National Turnpike Automotive and
For Sale
Contact for pricing
8307 National Tpke, Louisville, KY 40214
Two lots with garages and retail space on 0.71 acres.
Property Size5,826 SF
Lot Size0.71 Acres
Price / SF$205.97
Days on Market189
Property Features for 8307 National Tpke
General Information
Standard status
Active
Size
5,826 SF
Lot size
0.71 Acres
Property subtype
Retail
Zoning
EZ1
Occupancy
75%
Investment Type
Value Add
Net Operating Income
$72,000
Building Details
Buildings
4
Listing Agency:
Key Point Realty
Listed By:
Senahid Bektas · License #295475
Source:
Crexi
Added: Feb 11
Changed: Aug 12
Last Checked: Aug 17 at 2:01PM
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 Key Point Realty
Investment Insights
Based on property information with market context.
Two lots are being sold as a package deal, located at 8307 and 8309 National Turnpike, adjacent to a Thornton's gas station. The combined lots occupy 0.71 acres and offer potential for various investments. The property includes offices and multiple garage bays, with a recently constructed oversized garage completed in 2024. Zoned EZ1, the garages at the rear of 8307 National Turnpike are currently rented for $3,000 per month, while 8309 National Turnpike is rented separately for $2,000 per month. The owner operates a used car sales dealership from the front building of 8307 National Turnpike. The property size is 5,826 square feet.
Key Highlights
- Package deal: Two lots (8307 & 8309 National Turnpike) totaling 0.71 acres.
- High‑traffic location next to Thorntons gas station.
- Zoned EZ1, offering many investment possibilities.
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
$67,535
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
5.63%
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%
$1,350,700
$1.4M
Cap Rate 7%
$964,786
$964.8K
Cap Rate 9%
$750,389
$750.4K
Market Conditions
NOI Build-Up for 5,826 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
$104.9K $18.00/SF
− Vacancy
−$8.4K −$1.44/SF
EGI
$96.5K $16.56/SF
− OpEx
−$28.9K −$4.97/SF
NOI
$67.5K $11.59/SF
Area
ZIP 40214
Vacancy
8.00%
Lease Rate
$18.00 /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%
$1,350,700
Cap Rate 7%
$964,786
Cap Rate 9%
$750,389
Alternative Uses
Best Use
Retail
$964.8K
$844.2K – $1.13M
NOI $67,535 @ 7.0% cap · market cap 5.63%
Second Best
Industrial
$502.8K
$440.0K – $586.7K
NOI $35,199 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,720 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
69k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 21%
Thorntons
Shops & Services
22,741 visits/mo
0.1 miles
Moby Dick
Dining
14,217 visits/mo
0.4 miles
Circle K
Shops & Services
12,114 visits/mo
0.3 miles
Speedway
Shops & Services
9,380 visits/mo
0.2 miles
Dollar General
Shops & Services
9,046 visits/mo
0.4 miles
Demographics for 40214, KY
46,220
Population
20,459
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
15.0 sq mi
ZIP Area
3,081
Density / Sq Mi
$53,563
Median Household Income
$37,121
Median Earnings
$950
Median Rent
$176,700
Median Home Value
Market
Vacancy Rate% for Retail in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Two lots with garages and retail space on 0.71 acres.
Where is this automotive property located?
The property is located at 8307 National Tpke Louisville, KY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Package deal: Two lots (8307 & 8309 National Turnpike) totaling 0.71 acres.; High‑traffic location next to Thorntons gas station.; Zoned EZ1, offering many investment possibilities.
