Mixed-Use Retail and Apartment
For Sale
$1,100,000
3314 Preston Hwy, Louisville, KY 40213
Two retail tenants complement two currently rented apartments in a single income-producing property.
Property Size5,700 SF
Price / SF$192.98
Days on Market361
Property Features for 3314 Preston Hwy
General Information
Standard status
Active
Size
5,700 SF
Total Parking Spaces
23
Property subtype
Retail
Additional Details
Multifamily Units
2
Amenities
23 Parking Spaces
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
Hoagland Commercial
Listed By:
Zachary Swanson · License #76272
(502) 664-5277
Source:
Kcrea.resimplifi
Added: Oct 20, 2025
Changed: Oct 3
Last Checked: Oct 14 at 7:46PM
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 Hoagland Commercial
Investment Insights
Based on property information with market context.
This mixed-use property combines 5,700 square feet of retail and multifamily space in a building constructed in 2004. The commercial component includes two retail tenants, Subway and Kentucky Paquet, while two apartments are currently rented.
The property is located at 3314 Preston Hwy in Louisville, Kentucky, near Louisville Airport and the Convention Center. Its combination of retail occupancy and residential units creates a four-tenant configuration within one commercial property.
The property is located at 3314 Preston Hwy in Louisville, Kentucky, near Louisville Airport and the Convention Center. Its combination of retail occupancy and residential units creates a four-tenant configuration within one commercial property.
Key Highlights
- 5,700‑square‑foot mixed‑use property
- Two retail tenants: Subway and Kentucky Paquet
- Two apartments currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,716
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,354,320
$1.4M
Cap Rate 7%
$967,371
$967.4K
Cap Rate 9%
$752,400
$752.4K
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$123.1K $21.60/SF
− Vacancy
−$14.8K −$2.59/SF
EGI
$108.3K $19.01/SF
− OpEx
−$40.6K −$7.13/SF
NOI
$67.7K $11.88/SF
Area
Louisville, KY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,354,320
Cap Rate 7%
$967,371
Cap Rate 9%
$752,400
Alternative Uses
Best Use
Mixed Use
$967.4K
$846.5K – $1.13M
NOI $67,716 @ 7.0% cap · market cap 6.16%
Second Best
Retail
$938.8K
$821.4K – $1.10M
NOI $65,715 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,421 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
135k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 34%
Groceries 16%
Home Improvements & Furnishings 8%
McDonald's
Dining
26,862 visits/mo
0.3 miles
Aldi
Groceries
21,890 visits/mo
0.5 miles
Thorntons
Shops & Services
20,895 visits/mo
0.1 miles
Dollar Tree
Shops & Services
14,532 visits/mo
0.5 miles
Floor & Decor
Home Improvements & Furnishings
7,577 visits/mo
0.4 miles
Demographics for 40213, KY
16,698
Population
7,730
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
9.6 sq mi
ZIP Area
1,739
Density / Sq Mi
$60,734
Median Household Income
$38,595
Median Earnings
$952
Median Rent
$169,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two retail tenants complement two currently rented apartments in a single income-producing property.
Where is this mixed-use property located?
The property is located at 3314 Preston Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,700‑square‑foot mixed‑use property; Two retail tenants: Subway and Kentucky Paquet; Two apartments currently rented
