Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    312 W Main St La Grange, KY 40031

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two properties near downtown LaGrange, offering commercial and residential zoning.

    Type:Retail
    Property size:
    8,906 SF
    Price / SF:
    $109/SF
    Added:
    Apr 15, 2024
    Days on Market:
    737
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 312 W Main St

    General Information

    Standard status
    Active
    Size
    8,906 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Emma Noble

    Listing agent Emma Noble License #275289

    Listing office Horizon Commercial Realty

    Listing date Apr 15, 2024

    Source Crexi

    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 Horizon Commercial Realty

    Overview

    LaGrange Commercial Investment Opportunity

    This investment opportunity includes two properties located between West Main Street and West Jefferson Street. The properties are within walking distance of downtown LaGrange and LaGrange Springs Park. One property, located at 311 W Jefferson St, is zoned commercial. The second property, located at 312 W Main St, is zoned R-4. The total property size is 8906 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Grange
    County
    Oldham
    State
    Kentucky
    Longitude
    -85.3826017
    Latitude
    38.4069604

    Nearby Similar for Sale

    • $283,910

      Kentucky Equestrian Community Homesite

      5-acre homesite in premier equestrian community near La Grange.
      5201 Old Sligo Rd unit: Tract 2, La Grange, KY 40031
      View Details
    • $104,999

      Vacant Lot in La Grange

      1.2 acre vacant lot in a desirable Oldham County location.
      3602 New Moody Ln, La Grange, KY 40031
      View Details
    • $239,000

      Rolling Land in La Grange

      5.9 acres with no restrictions near I-71.
      1000 Mount Olivet Rd, La Grange, KY 40031
      View Details
    • $79,900

      Residential Lot in Maple Grove

      1.52-acre lot in La Grange, build your dream home.
      2303 Zhale Smith Rd, La Grange, KY 40031
      View Details
    • $107,000

      Wooded Homesite in Oldham County

      1+ acre wooded homesite near schools, shopping, and dining.
      5304 Sycamore Ridge Ln, La Grange, KY 40031
      View Details
    • $122,000

      Wooded Homesite in La Grange

      1.94 acre wooded homesite in Oldham County.
      2489 W Hwy 42, La Grange, KY 40031
      View Details
    • $107,000

      Wooded Homesite in Oldham County

      1+ acre wooded homesite near schools, shopping, and dining.
      5113 Sycamore Ridge Ln, La Grange, KY 40031
      View Details
    • $79,000

      La Grange Land For Sale

      1.8 acre building site with mature trees and creek.
      2011 KY-524 unit: Tract 2, La Grange, KY 40031
      View Details
    • $107,000

      Wooded Lot in Sycamore Run

      Serene 1.02 acre wooded lot in La Grange, KY.
      5103 Sycamore Ridge Ln, La Grange, KY 40031
      View Details
    • $112,000

      Wooded Lot in Sycamore Run

      Serene wooded lot in desirable Sycamore Run subdivision.
      5112 Sycamore Ridge Ln, La Grange, KY 40031
      View Details
    • $107,000

      Wooded Lot in Sycamore Run

      Wooded lot in Sycamore Run subdivision, La Grange, KY.
      5205 Sycamore Ridge Ln, La Grange, KY 40031
      View Details
    • $97,000

      Wooded Lot in Sycamore Run

      Serene 1.03 acre wooded lot in desirable Sycamore Run.
      5309 Sycamore Ridge Ln, La Grange, KY 40031
      View Details

    FAQs

    What type of property is this?
    Storefront property - Two properties near downtown LaGrange, offering commercial and residential zoning.
    Where is this storefront property located?
    The property is located at 312 W Main St La Grange, KY.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Unique investment opportunity.; Walking distance to downtown LaGrange and LaGrange Springs Park.; Two properties included in the sale.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Emma Noble
    Real Estate License ID: 275289
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!