Corner Lot Near Tully
For Sale
Contact for pricing
3301 College Dr, Louisville, KY 40299
Corner lot suitable for retail or office development.
Property Size6,000 SF
Days on Market863
Property Features for 3301 College Dr
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Land
Zoning
C1
Amenities
Water
Sewer
Vacant
Listing Agency:
Commonwealth Commercial Real Estate
Listed By:
Rhonda Karageorge · License #46762
(502) 379-6003
Source:
Kcrea.resimplifi
Added: Jun 7, 2024
Changed: Oct 15
Last Checked: Oct 16 at 5:45AM
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 Commonwealth Commercial Real Estate
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Investment Insights
Based on property information with market context.
Available for sale or joint venture, this corner lot is located at the intersection of Sprowl Road and College Drive, just off Taylorsville Road. The site is directly across the street from Tully Elementary School and in close proximity to a Baptist Health facility. Zoned C-1, the property is suitable for the construction of a professional or business office, or a retail building, up to approximately 6,000 square feet. Parking is available for up to 22 cars. Potential uses include medical, orthodontic, dental, insurance agency, beauty shop, nail salon, interior decor store, or veterinary clinic.
Key Highlights
- High‑visibility corner lot location at the intersection of Sprowl Road and College Drive.
- Zoned C‑1, allowing for a wide range of retail or office uses.
- Potential to build up to 6,000 sq ft of retail or office space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,562
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,291,240
$1.3M
Cap Rate 7%
$922,314
$922.3K
Cap Rate 9%
$717,356
$717.4K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$100.8K $16.80/SF
− Vacancy
−$8.6K −$1.43/SF
EGI
$92.2K $15.37/SF
− OpEx
−$27.7K −$4.61/SF
NOI
$64.6K $10.76/SF
Area
ZIP 40299
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,291,240
Cap Rate 7%
$922,314
Cap Rate 9%
$717,356
Alternative Uses
Best Use
Office B
$1.01M
$885.6K – $1.18M
NOI $70,848 @ 7.0% cap · market cap 7,084,800.00%
Second Best
Retail
$922.3K
$807.0K – $1.08M
NOI $64,562 @ 7.0% cap · market cap 6,456,200.00%
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,816 @ 7.0% cap · market cap 10,281,600.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 40299, KY
43,030
Population
17,567
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
54.0 sq mi
ZIP Area
797
Density / Sq Mi
$85,419
Median Household Income
$50,427
Median Earnings
$1,290
Median Rent
$274,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Louisville, KY
Frequently Asked Questions
What type of property is this?
Commercial land - Corner lot suitable for retail or office development.
Where is this commercial land located?
The property is located at 3301 College Dr Louisville, KY.
What are key features of this property?
This property features: High‑visibility corner lot location at the intersection of Sprowl Road and College Drive.; Zoned C‑1, allowing for a wide range of retail or office uses.; Potential to build up to 6,000 sq ft of retail or office space.
