Retail Strip Center with
For Sale
$1,625,000
1348 River Rd, Louisville, KY 40206
Multi-space commercial property with restaurant-oriented improvements, outdoor seating, and access to a drive-through configuration.
Property Size7,781 SF
Price / SF$208.84
Days on Market85
Property Features for 1348 River Rd
General Information
Standard status
Active
Size
7,781 SF
Property subtype
Retail
Zoning
W2-O
Site & Location
Drive-Thru
Yes
Road Access
Yes
Additional Details
Patio
Yes
Amenities
Outdoor Seating
Water
Sewer
Building Details
Tenancy
Multi
Listing Agency:
The Pantoja Commercial Group, LLC.
Listed By:
Paul Pantoja
(502) 299-0306
Source:
Kcrea.resimplifi
Added: Jul 22
Changed: Oct 6
Last Checked: Oct 12 at 4:42PM
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 The Pantoja Commercial Group, LLC.
Investment Insights
Based on property information with market context.
This retail strip center includes multiple commercial spaces and has been improved for flexible occupancy. One area is configured for restaurant use with outdoor seating and a drive-through, while another is currently used as a venue rental space on a month-to-month lease. The property can also accommodate owner occupancy and may be divided into additional tenant areas.
Recent property improvements include a new asphalt parking lot along with electrical and plumbing work. The building is zoned W2-O and fronts River Rd. Its setting is next to Waterfront Park and near downtown Louisville, providing a commercial location suited to retail, food service, office, or other uses supported by the existing configuration.
Recent property improvements include a new asphalt parking lot along with electrical and plumbing work. The building is zoned W2-O and fronts River Rd. Its setting is next to Waterfront Park and near downtown Louisville, providing a commercial location suited to retail, food service, office, or other uses supported by the existing configuration.
Key Highlights
- Retail strip center with multiple commercial spaces
- Restaurant‑oriented area with outdoor seating and drive‑through
- Current venue rental space leased month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,707
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,794,140
$1.8M
Cap Rate 7%
$1,281,529
$1.3M
Cap Rate 9%
$996,744
$996.7K
Market Conditions
NOI Build-Up for 7,781 SF
Gross rent
$140.1K $18.00/SF
− Vacancy
−$11.9K −$1.53/SF
EGI
$128.2K $16.47/SF
− OpEx
−$38.4K −$4.94/SF
NOI
$89.7K $11.53/SF
Area
Louisville, KY
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,794,140
Cap Rate 7%
$1,281,529
Cap Rate 9%
$996,744
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,707 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,178 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Strip mall - Multi-space commercial property with restaurant-oriented improvements, outdoor seating, and access to a drive-through configuration.
Where is this strip mall located?
The property is located at 1348 River Rd Louisville, KY.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Retail strip center with multiple commercial spaces; Restaurant‑oriented area with outdoor seating and drive‑through; Current venue rental space leased month to month
