Family Dollar Storefront with Development
For Sale
$2,350,000
701 Valley College Dr, Louisville, KY 40272
A Family Dollar tenant occupies the retail building, with separate development land included in the offering.
Property Size14,564 SF
Price / SF$161.36
Days on Market8
Property Features for 701 Valley College Dr
General Information
Standard status
Active
Size
14,564 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Year Built
2006
Buildings
1
Tenancy
Single
Listing Agency:
RE/MAX Elite Realty
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 7 at 11:34AM
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 RE/MAX Elite Realty
Investment Insights
Based on property information with market context.
The 14,564-square-foot retail building, constructed in 2006, is leased to Family Dollar under a recently executed long-term lease. The offering also includes approximately 1 acre of adjacent land, zoned OR-3, with frontage on Stonestreet Road.
The property is approximately 1 mile from the intersection of Stonestreet Road and Dixie Highway. The surrounding area includes residential density, Meijer, Walmart, restaurants, and retail amenities near Park Place Mall. U of L Health Medical Center Southwest and Jefferson Community & Technical College Southwest Campus are also identified in the surrounding area.
The property is approximately 1 mile from the intersection of Stonestreet Road and Dixie Highway. The surrounding area includes residential density, Meijer, Walmart, restaurants, and retail amenities near Park Place Mall. U of L Health Medical Center Southwest and Jefferson Community & Technical College Southwest Campus are also identified in the surrounding area.
Key Highlights
- 14,564 SF retail building leased to Family Dollar under a newly executed long‑term lease
- Approximately 1 acre of adjacent development land zoned OR‑3
- Land fronts Stonestreet Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$167,908
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,358,160
$3.4M
Cap Rate 7%
$2,398,686
$2.4M
Cap Rate 9%
$1,865,644
$1.9M
Market Conditions
NOI Build-Up for 14,564 SF
Gross rent
$262.2K $18.00/SF
− Vacancy
−$22.3K −$1.53/SF
EGI
$239.9K $16.47/SF
− OpEx
−$72.0K −$4.94/SF
NOI
$167.9K $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%
$3,358,160
Cap Rate 7%
$2,398,686
Cap Rate 9%
$1,865,644
Alternative Uses
Best Use
Retail
$2.40M
$2.10M – $2.80M
NOI $167,908 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,249 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
14,988 visits/mo
0.5 miles
Shell
Shops & Services
8,456 visits/mo
0.2 miles
Family Dollar
Shops & Services
5,992 visits/mo
0.1 miles
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - A Family Dollar tenant occupies the retail building, with separate development land included in the offering.
Where is this storefront property located?
The property is located at 701 Valley College Dr Louisville, KY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 14,564 SF retail building leased to Family Dollar under a newly executed long‑term lease; Approximately 1 acre of adjacent development land zoned OR‑3; Land fronts Stonestreet Road
