Building Details

Year Built 1966

Listing Agency: Neltner Realty

Listed By: Ben Neltner · License #230615 Show Phone

Source: Lovdalgroup

Added: Jul 18 Changed: Oct 7 Last Checked: Oct 7 at 1:18PM

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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 Neltner Realty

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Investment Insights

Based on property information with market context.

This for-sale property consists of approximately one acre with frontage on a highway designated as Highway Commercial. The site also includes a brick four-bedroom house, described as having potential to be converted into an office or store.

The property is located at 7621 Alexandria Pike in Alexandria, KY. Public remarks note over 30,000 vehicle count per day, supporting strong day-to-day exposure for a commercial use.

Additional land is available, and more details can be provided upon request.

Key Highlights

• 1‑acre property with frontage on 27, zoned Highway Commercial
• Existing brick 4‑bedroom house on site, suitable for conversion to an office or store
• Reported traffic counts of over 30,000 cars per day

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,145

Cap Rate

3.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$382,900 $382.9K

Cap Rate 7%

$273,500 $273.5K

Cap Rate 9%

$212,722 $212.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,720 SF

Gross rent

$28.3K $16.44/SF

− Vacancy

−$927 −$0.54/SF

EGI

$27.3K $15.90/SF

− OpEx

−$8.2K −$4.77/SF

NOI

$19.1K $11.13/SF

Area

Campbell County, KY

Vacancy

3.28%

Lease Rate

$16.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$382,900

Cap Rate 7%

$273,500

Cap Rate 9%

$212,722

Alternative Uses

Best Use

Retail

$273.5K

$239.3K – $319.1K (±1% cap)

NOI $19,145 @ 7.0% cap · market cap 3.83%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$471.8K

$412.8K – $550.4K (±1% cap)

NOI $33,024 @ 7.0% cap · market cap 6.60%

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 Real Estate Agency Building Supply Big Box & Wholesale Store Law Firm Dental Office Parking Lot & Garage

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

Lease Details

30,000 VPD

Traffic count

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

336

Businesses Nearby

87k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 53% Shops & Services 32% Home Improvements & Furnishings 15%

Speedway Shops & Services

14,900 visits/mo 0.2 miles

Tractor Supply Co. Home Improvements & Furnishings

12,927 visits/mo 0.4 miles

Burger King Dining

10,715 visits/mo 0.3 miles

Popeyes Louisiana Kitchen Dining

7,850 visits/mo 0.3 miles

Dunkin' Donuts Dining

6,665 visits/mo 0.3 miles

Demographics for 41001, KY

19,294

Population

7,387

Households

2.6

Avg Household Size

40

Median Age

35%

College-Educated

94%

High-School Grad

51.7 sq mi

ZIP Area

373

Density / Sq Mi

$102,468

Median Household Income

$57,834

Median Earnings

$1,113

Median Rent

$265,100

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

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72,000 SF Shopping Center

Alexandria Pike & Poplar Ridge Road, Alexandria, KY 41001

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72,000 SF

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Frequently Asked Questions

What type of property is this?

Commercial land - One-acre commercial land with highway frontage and an existing brick four-bedroom house for conversion.

Where is this commercial land located?

The property is located at 7621 Alexandria Pike Alexandria, KY.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 1‑acre property with frontage on 27, zoned Highway Commercial; Existing brick 4‑bedroom house on site, suitable for conversion to an office or store; Reported traffic counts of over 30,000 cars per day