Retail Property with Development
For Sale
$2,350,000
701 Valley College Drive, Louisville, KY 40272
Commercial Sale, Louisville, KY
Property Size14,564 SF
Lot Size3.45 Acres
Price / SF$161.36
Days on Market9
Property Features for 701 Valley College Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-1
Zoning description
C-1 & OR-3
Directions
31W South to left on Stonestreet Road, property is on the left corner of Stonestreet Road and Valley College Drive.
Subdivision
052 - Jefferson County
Standard status
Active
APN
230000040000
Size
14,564 SF
Lot size
3.45 Acres
Building Details
Year built
2006
Floors in Building
1
Building materials
Brick
Listing Agency:
Block + Lot Homes
(859) 309-0099
Listed By:
Robert W Rouse
(859) 967-7299
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 7 at 5:06PM
MLS# 26026942
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The offering includes a 14,564-square-foot brick retail building constructed in 2006 and occupied by Family Dollar under a recently signed long-term lease. The property also includes approximately 1 acre of adjacent land described as suitable for future development. The full site encompasses 3.45 acres.
The building is across the street from U of L Health Medical Center Southwest and Jefferson Community & Technical College Southwest Campus. Stonestreet Road and Dixie Highway meet approximately one mile away; the stated ADT figures are 11,960 for Stonestreet Road and 29,531 for Dixie Highway. The surrounding trade area includes Meijer, Walmart, and other retail and restaurant amenities near Park Place Mall.
The retail property is identified with C-1 zoning, while the adjacent development parcel is identified with OR-3 zoning.
The building is across the street from U of L Health Medical Center Southwest and Jefferson Community & Technical College Southwest Campus. Stonestreet Road and Dixie Highway meet approximately one mile away; the stated ADT figures are 11,960 for Stonestreet Road and 29,531 for Dixie Highway. The surrounding trade area includes Meijer, Walmart, and other retail and restaurant amenities near Park Place Mall.
The retail property is identified with C-1 zoning, while the adjacent development parcel is identified with OR-3 zoning.
Key Highlights
- 14,564‑square‑foot brick retail building, constructed in 2006
- Family Dollar occupies the building under a newly signed long‑term lease
- Approximately 1 acre of adjacent development land; overall site totals 3.45 acres
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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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
29k
Monthly Visits Nearby
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?
Retail space - A long-term Family Dollar lease accompanies separate land with stated development potential.
Where is this retail space located?
The property is located at 701 Valley College Drive 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‑square‑foot brick retail building, constructed in 2006; Family Dollar occupies the building under a newly signed long‑term lease; Approximately 1 acre of adjacent development land; overall site totals 3.45 acres
