Building Details

Year Built 1992

Listing Agency: Lenihan Sotheby's Int'l Realty

Listed By: Charles Pence Show Phone

Source: Kcrea.resimplifi

Added: Oct 10, 2025 Changed: Oct 3 Last Checked: Oct 12 at 4:46PM

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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 Lenihan Sotheby's Int'l Realty

Investment Insights

Based on property information with market context.

This 1.44-acre commercial land parcel occupies a corner at Hwy 329 and Old Zaring Rd in Crestwood, Kentucky. The property includes an existing structure built in 1992, offering the option to retain and renovate the improvement or pursue new construction. C-2 Community Commercial Zone designation supports a commercial development setting.

Access is provided from Hwy 329, with I-71 nearby via Exit 14. The site is positioned within an area described as experiencing ongoing commercial and residential development, with surrounding new and planned projects. Its corner configuration and connection to the interstate-oriented road network provide practical access for future commercial planning.

Key Highlights

• 1.44‑acre corner parcel at Hwy 329 and Old Zaring Rd
• C‑2 Community Commercial Zone designation
• I‑71 access via Exit 14

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,757

Cap Rate

6.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,055,140 $1.1M

Cap Rate 7%

$753,671 $753.7K

Cap Rate 9%

$586,189 $586.2K

Market Conditions

NOI Build-Up for 5,280 SF

Gross rent

$82.4K $15.60/SF

− Vacancy

−$7.0K −$1.33/SF

EGI

$75.4K $14.27/SF

− OpEx

−$22.6K −$4.28/SF

NOI

$52.8K $9.99/SF

Area

Oldham County, KY

Vacancy

8.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,055,140

Cap Rate 7%

$753,671

Cap Rate 9%

$586,189

Alternative Uses

Best Use

Retail

$753.7K

$659.5K – $879.3K (±1% cap)

NOI $52,757 @ 7.0% cap · market cap 6.21%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.11M

$974.0K – $1.30M (±1% cap)

NOI $77,918 @ 7.0% cap · market cap 9.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Real Estate Agency Furniture & Home Goods Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Explore this area Business Placement

Demographics for 40014, KY

22,255

Population

8,028

Households

2.8

Avg Household Size

40

Median Age

47%

College-Educated

97%

High-School Grad

52.1 sq mi

ZIP Area

427

Density / Sq Mi

$118,750

Median Household Income

$57,297

Median Earnings

$1,117

Median Rent

$381,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial land - Corner commercial land with an existing structure, interstate access, and C-2 zoning for future development or reuse.

Where is this commercial land located?

The property is located at 7511 Hwy 329 Crestwood, KY.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 1.44‑acre corner parcel at Hwy 329 and Old Zaring Rd; C‑2 Community Commercial Zone designation; I‑71 access via Exit 14