Commercial Land with Highway
For Sale
$500,000
7621 Alexandria Pike, Alexandria, KY 41001
One-acre commercial land with highway frontage and an existing brick four-bedroom house for conversion.
Property Size1,720 SF
Lot Size1.00 Acre
Price / SF$290.70
Days on Market724
Property Features for 7621 Alexandria Pike
General Information
Standard status
Active
Size
1,720 SF
Lot size
1.00 Acre
Zoning
Highway Commercial
Site & Location
Traffic Count
30,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Listing Agency:
Neltner Realty
Listed By:
Ben Neltner · License #230615
(859) 816-0228
Source:
Exprealty
Added: Sep 13, 2024
Changed: Sep 5
Last Checked: Sep 6 at 9:38AM
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
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.
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 = 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
$19,145
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
3.83%
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%
$382,900
$382.9K
Cap Rate 7%
$273,500
$273.5K
Cap Rate 9%
$212,722
$212.7K
Market Conditions
NOI Build-Up for 1,720 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
$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 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%
$382,900
Cap Rate 7%
$273,500
Cap Rate 9%
$212,722
Alternative Uses
Best Use
Retail
$273.5K
$239.3K – $319.1K
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
NOI $33,024 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
