221 S Hancock St Unit B, Louisville, KY 40202

$249,500

This commercial-zoned NuLu loft condo is a rare opportunity for both investors and owner-occupants in one of Louisville's hottest, most walkable districts. Set in a historic converted fire station with only three residential units and two commercial spaces, this 1-bed, 1.5-bath residence offers flexible use today—live/work, solo creative office, or… Read More long-term and mid-term rental (subject to bylaws)—with compelling upside if short-term rentals are ever allowed in the future, all with a low HOA fee. Behind the historic brick façade, you'll find a character-filled loft with original hardwood floors, exposed brick, and exposed beams that create an architectural ceiling detail begging for thoughtful lighting. The open living area is anchored by a large movable interior wall that lets you reconfigure the space for working, entertaining, or retreating, while the lofted office area gives frequent travelers, creatives, and remote professionals a true separation of workspace and home. The layout lives larger than expected thanks to smart storage, a quiet, tucked-away setting, and one off-street parking space in the adjacent lot. New AC and furnace (3months) and relatively new fridge and stove (3 years) help keep operating and maintenance costs lower for both owners and investors. Currently, the association permits rentals with board compliance but prohibits transient or hotel-like use, making this an appealing option for long-term tenants, traveling professionals, and mid-term corporate or family stays. Commercial zoning and a very small, hands-on association mean there may be future flexibility for short-term rentals if bylaws evolve. Located in the heart of NuLu's East Market District, this loft sits moments from award-winning restaurants, art galleries, boutique hotels, and local shops that keep the neighborhood in constant demand with both locals and visitors. NuLu's recognition as one of Louisville's premier arts and dining districts, combined with major nearby investments in offices, hospitality, and mixed-use development, reinforces a long-term appreciation story and steady demand from renters, professionals, and traveling guests. With commercial zoning, low HOA fees, and a character-rich loft in a historic fire station, this NuLu condo checks the boxes for investors, live/work users, and owner-occupants who want to be in the middle of the action while holding prime future upside. Rentals (other than transient/hotel use) are permitted with board compliance, and the small, manageable HOA means faster conversations around any future bylaw changes. Whether you're looking for a base for frequent Louisville trips, a long-term or mid-term rental, or a unique creative office loft, this is a hard-to-replicate position in one of the city's most in-demand neighborhoods. Read Less

Courtesy of Jonathan D Klunk, EXP Realty LLC, .

Listing Snapshot

Days Online

Last Updated

Apr 29, 2026

Property Type

Condominium

Beds

Full Baths

Partial Baths

Square Ft.

1,063

Year Built

175

MLS Number

1715763

30 Days Snapshot Of 40202

$265k

-52%

(avg) sold price

-50%

home sold

-76%

(avg) days on market

Snapshot

Area Map

Additional Details

Basement

Basement: "None"

Building

Architectural Style: "Contemporary", "Open Plan", "Other", Building Area Source: Other, Building Area Total: 1,063, Construction Materials: "Brick", Living Area: 1,063, Year Built: 175, 3 stories, 3 total stories

Cooling

Cooling Included, Cooling: "Central Air"

Heating

Heating: "Forced Air", Heating Included

Home Owner's Association

Association Fee: $0, Home Owners Association

Lot

0 acres, Area: 0, 0 square feet

Parking

Features: "On Street", "Off Street"

Property

Parcel Number: 04017N00040000, Property Sub Type: Condominium

Roof

Roof: "Shingle"

Sewer

Sewer: "Public Sewer"

Taxes

Tax Lot: 0

Utilities

Utilities: "Fuel:Natural", Water Source: "Public"

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