C-2 Commercial Corner
For Sale
$850,000
7511 Hwy 329, Crestwood, KY 40014
Corner commercial land with an existing structure, interstate access, and C-2 zoning for future development or reuse.
Property Size5,280 SF
Price / SF$160.98
Days on Market324
Property Features for 7511 Hwy 329
General Information
Standard status
Active
Size
5,280 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
C-2 Community Commercial Zone
Amenities
Power
Water
20 Parking Spaces
Building Details
Year Built
1992
Listing Agency:
Lenihan Sotheby's Int'l Realty
(502) 291-4739
Listed By:
Charles Pence
(502) 291-4739
Source:
Kcrea.resimplifi
Added: Oct 10, 2025
Changed: Aug 28
Last Checked: Aug 29 at 5:58AM
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.
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 = 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
$52,757
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
6.21%
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%
$1,055,140
$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
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
$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 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%
$1,055,140
Cap Rate 7%
$753,671
Cap Rate 9%
$586,189
Alternative Uses
Best Use
Retail
$753.7K
$659.5K – $879.3K
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
NOI $77,918 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
