Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Highway Frontage Redevelopment Opportunity Title is generated by Realmo AI

    11217 Hwy 44 E, Mount Washington, KY 40047

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Prime commercial land with redevelopment or retrofit potential.

    Type:Land
    Property size:
    1,116 SF
    Lot size:
    0.35 Acres
    Price / SF:
    $357/SF
    Added:
    Oct 21, 2024
    Days on Market:
    591
    Last Refresh:
    May 12 at 8:36 pm

    Property Features for 11217 Hwy 44 E

    General Information

    Standard status
    Active
    Size
    1,116 SF
    Lot size
    0.35 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Nick Grisanti

    Listing agent Nick Grisanti License #274313

    Listing office Grisanti Group Commercial Real Estate

    Listing date Oct 21, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Grisanti Group Commercial Real Estate

    HighLights

    • Prime location on Hwy 44 in Mt. Washington.
    • Zoned B‑2 for redevelopment or retrofit.
    • 76' of frontage on Hwy 44.
    • 0.351 acres (Lot 7 of the Edith Grigsby Estate Division).
    • Surrounded by numerous national and regional restaurants and retailers.
    • Close proximity to a high‑traffic Kroger.

    Overview

    This property features 76 feet of frontage on Highway 44 in Mt. Washington. The 0.351-acre lot, identified as Lot 7 of the Edith Grigsby Estate Division, is zoned B-2. An existing 1,116 square foot Bedford stone house is currently leased on a month-to-month basis. The location presents a prime opportunity for either demolition and redevelopment or retrofitting the existing structure for office or retail use. The property is surrounded by numerous national and regional restaurants and retailers. It is also in close proximity to a high-traffic Kroger location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Washington
    County
    Bullitt
    State
    Kentucky
    Longitude
    -85.532983
    Latitude
    38.053878

    Nearby Similar for Sale

    • $4,315,543
      5,915 SF

      New Retail Space For Sale

      New construction retail space available for sale, 5.25% CAP.
      447 Oakbrooke Dr, Mount Washington, KY 40047
      View Details
    • Contact for pricing

      Commercial Asset on Bardstown Road

      Highly visible commercial property in a growing Louisville submarket.
      519 N BARDSTOWN RD, MOUNT WASHINGTON, KY
      View Details
    • $28

      New Retail Space in Mt. Washington

      New construction retail space for lease in Mount Washington.
      11184 Kentucky 44, Mt Washington, KY 40047
      View Details
    • $2,900,000
      30,500 SF

      Mount Washington Retail Opportunity

      Retail property with ample parking and pylon signage available.
      10070 Highway 44 E, Mount Washington, KY
      View Details
    • $2,900,000
      30,500 SF

      Mount Washington Retail Space Available

      Retail space for sale in Mount Washington, Kentucky.
      10070 Hwy 44 E, Mount Washington, KY 40047
      View Details
    • Contact for pricing

      Prime Retail Development Opportunity

      Retail development land for sale in Mount Washington, KY.
      Spring Place Dr, Mt Washington, KY 40047
      View Details
    • Contact for pricing

      Land For Sale

      Land available in Mount Washington, Kentucky.
      Oakbrooke Drive/Eastbrooke Parkway/Eastbrooke Pointe Drive, Mount Washington, KY 40047
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land with redevelopment or retrofit potential.
    Where is this commercial land located?
    The property is located at 11217 Hwy 44 E Mount Washington, KY.
    What is the asking price?
    The asking price for this property is $399,500.
    What are key features of this property?
    This property features: Prime location on Hwy 44 in Mt. Washington.; Zoned B‑2 for redevelopment or retrofit.; 76' of frontage on Hwy 44.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nick Grisanti
    Real Estate License ID: 274313
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    11217 Hwy 44 E, Mount Washington, KY 40047
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!