Commercial Land with Highway
7621 Alexandria Pike Alexandria, KY 41001
7621 Alexandria Pike, Alexandria, KY, 41001
$500,000
For Sale
$500,000
One-acre commercial land with highway frontage and an existing brick four-bedroom house for conversion.
Property Size1,720 SF
Lot Size1.00 Acre
Price / SF$290.70
Days on Market678
Property Features for 7621 Alexandria Pike
General Information
- Standard status
- Active
- Size
- 1,720 SF
- Lot size
- 1.00 Acre
Listing agency
Neltner Realty
(859) 816-0228
Listed by
Ben Neltner · License #230615
(859) 816-0228
Source
Exprealty
Added: Sep 13, 2024 Updated: Jul 22 at 10:31AM Checked: Jul 22 at 10:31AM
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 Neltner Realty
Investment Insights
Based on property information with market context.
This for-sale property consists of approximately one acre with frontage on a highway designated as Highway Commercial. The site also includes a brick four-bedroom house, described as having potential to be converted into an office or store.
The property is located at 7621 Alexandria Pike in Alexandria, KY. Public remarks note over 30,000 vehicle count per day, supporting strong day-to-day exposure for a commercial use.
Additional land is available, and more details can be provided upon request.
The property is located at 7621 Alexandria Pike in Alexandria, KY. Public remarks note over 30,000 vehicle count per day, supporting strong day-to-day exposure for a commercial use.
Additional land is available, and more details can be provided upon request.
Key Highlights
- 1‑acre property with frontage on 27, zoned Highway Commercial
- Existing brick 4‑bedroom house on site, suitable for conversion to an office or store
- Reported traffic counts of over 30,000 cars per day
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.2k | $21.60 |
| − Vacancy | −$7.4k | −$4.32 |
| EGI | $29.7k | $17.28 |
| − OpEx | −$7.4k | −$4.32 |
| NOI | $22.3k | $12.96 |
1,720 SF · lease $21.60/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$318.4K
$278.6K – $371.5K
NOI $22,291 @ 7.0% cap · market cap 4.46%
Second Best
Retail
$273.5K
$239.3K – $319.1K
NOI $19,145 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$471.8K
$412.8K – $550.4K
NOI $33,024 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - One-acre commercial land with highway frontage and an existing brick four-bedroom house for conversion.
Where is this commercial land located?
The property is located at 7621 Alexandria Pike Alexandria, KY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1‑acre property with frontage on 27, zoned Highway Commercial; Existing brick 4‑bedroom house on site, suitable for conversion to an office or store; Reported traffic counts of over 30,000 cars per day
