Mixed-Use Property with Enclosed
For Sale
$899,000
4510 N Preston Hwy, Shepherdsville, KY 40165
B-1-zoned property combines insulated commercial buildings, a covered boat and RV shelter, parking, and an on-site residence.
Property Size11,411 SF
Lot Size1.35 Acres
Price / SF$78.78
Days on Market12
Property Features for 4510 N Preston Hwy
General Information
Standard status
Active
Size
11,411 SF
Lot size
1.35 Acres
Property subtype
Other
Zoning
B-1
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Service Bays
5
Amenities
full bathroom
covered boat/RV shelter
Building Details
Buildings
2
Construction
metal
Abandoned
No
Listing Agency:
85W Real Estate
(502) 424-6873
Listed By:
Travis Cox · License #218292
(502) 424-6873
Source:
Kcrea.resimplifi
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 1:38PM
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 85W Real Estate
Investment Insights
Based on property information with market context.
This B-1-zoned mixed-use property spans 1.35 acres along North Preston Highway in Shepherdsville, Kentucky. The commercial component includes more than 8,000 square feet of insulated metal buildings arranged with five enclosed bays, a full bathroom, and a covered shelter for boats or RVs. On-site parking supports the existing commercial configuration and a range of service-oriented operations.
A 1.5-story single-family residence is also located on the property, with 1,400 square feet above grade and 720 square feet below grade. The home is occupied under a month-to-month lease and can provide a separate residential component alongside the commercial improvements. The site has road frontage on North Preston Highway and is currently associated with Anglers Outpost and Marine.
A 1.5-story single-family residence is also located on the property, with 1,400 square feet above grade and 720 square feet below grade. The home is occupied under a month-to-month lease and can provide a separate residential component alongside the commercial improvements. The site has road frontage on North Preston Highway and is currently associated with Anglers Outpost and Marine.
Key Highlights
- 1.35‑acre mixed‑use property at 4510 N Preston Hwy, Shepherdsville, KY 40165
- B‑1 zoning with road frontage on N Preston Hwy
- Over 8,000 sq ft of insulated metal commercial buildings
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
$78,134
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
8.69%
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%
$1,562,680
$1.6M
Cap Rate 7%
$1,116,200
$1.1M
Cap Rate 9%
$868,156
$868.2K
Market Conditions
NOI Build-Up for 11,411 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
$116.4K $10.20/SF
− Vacancy
−$4.8K −$0.42/SF
EGI
$111.6K $9.78/SF
− OpEx
−$33.5K −$2.93/SF
NOI
$78.1K $6.85/SF
Area
Bullitt County, KY
Vacancy
4.10%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,562,680
Cap Rate 7%
$1,116,200
Cap Rate 9%
$868,156
Alternative Uses
Best Use
Mixed Use
$1.93M
$1.68M – $2.25M
NOI $134,792 @ 7.0% cap · market cap 14.99%
Second Best
Warehouse
$1.40M
$1.22M – $1.63M
NOI $97,944 @ 7.0% cap · market cap 10.89%
Theoretical Best
Office A
$2.41M
$2.10M – $2.81M
NOI $168,393 @ 7.0% cap · market cap 18.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
207
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - B-1-zoned property combines insulated commercial buildings, a covered boat and RV shelter, parking, and an on-site residence.
Where is this mixed-use property located?
The property is located at 4510 N Preston Hwy Shepherdsville, KY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 1.35‑acre mixed‑use property at 4510 N Preston Hwy, Shepherdsville, KY 40165; B‑1 zoning with road frontage on N Preston Hwy; Over 8,000 sq ft of insulated metal commercial buildings
