Commercial Land with Existing
For Sale
$450,000
219 W Hebron Ln, Shepherdsville, KY 40165
Commercially zoned acreage includes a house and two-car garage for storage.
Property Size1,400 SF
Price / SF$321.43
Days on Market424
Property Features for 219 W Hebron Ln
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Other
Zoning
Commercial Zone
Amenities
Power
Listing Agency:
Century 21 Advantage Plus
(502) 296-1578
Listed By:
Lou Ann Moore · License #180702
(502) 296-1578
Source:
Kcrea.resimplifi
Added: Jul 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:19PM
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 Century 21 Advantage Plus
Investment Insights
Based on property information with market context.
This 1.5-acre commercial land property includes an existing house and a two-car garage used for storage. The improvements are identified for potential office, retail, or live-in business use, providing an existing structure within the commercially zoned site.
The property is located at 219 W Hebron Ln in Shepherdsville, with sightlines from Hwy 61 North and a traffic signal positioned in front of the site. Louisville and I-65/Gene Snyder are described as minutes away, connecting the property to nearby regional destinations and transportation routes.
The property is located at 219 W Hebron Ln in Shepherdsville, with sightlines from Hwy 61 North and a traffic signal positioned in front of the site. Louisville and I-65/Gene Snyder are described as minutes away, connecting the property to nearby regional destinations and transportation routes.
Key Highlights
- 1.5 acres zoned for commercial use
- Existing house with a two‑car garage for storage
- Potential office, retail, or live‑in business configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,080
$345.1K
Cap Rate 7%
$246,486
$246.5K
Cap Rate 9%
$191,711
$191.7K
Market Conditions
NOI Build-Up for 1,400 SF
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.
Gross rent
$28.1K $20.04/SF
− Vacancy
−$5.1K −$3.61/SF
EGI
$23.0K $16.43/SF
− OpEx
−$5.8K −$4.11/SF
NOI
$17.3K $12.32/SF
Area
Bullitt County, KY
Vacancy
18.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,080
Cap Rate 7%
$246,486
Cap Rate 9%
$191,711
Alternative Uses
Best Use
Office B
$246.5K
$215.7K – $287.6K
NOI $17,254 @ 7.0% cap · market cap 3.83%
Second Best
Mixed Use
$236.3K
$206.7K – $275.6K
NOI $16,538 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$295.1K
$258.3K – $344.3K
NOI $20,660 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 40165, KY
36,161
Population
15,622
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
113.2 sq mi
ZIP Area
319
Density / Sq Mi
$77,083
Median Household Income
$41,914
Median Earnings
$939
Median Rent
$242,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned acreage includes a house and two-car garage for storage.
Where is this commercial land located?
The property is located at 219 W Hebron Ln Shepherdsville, KY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1.5 acres zoned for commercial use; Existing house with a two‑car garage for storage; Potential office, retail, or live‑in business configuration
