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

    1315 Herr Ln Louisville, KY 40222

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Louisville retail space, fully vacant.

    Lot size:
    29,391 SF

    Property Features for 1315 Herr Ln

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    29,391 SF

    Spaces For Lease

    at 1315 Herr Ln, Louisville, KY 40222 Contact us

    We can help!

    Listing Contact
    Kevin Mayhugh
    Kevin Mayhugh

    Listing Agency: TSCG The Shopping Center Group Louisville Listing Agent: Kevin Mayhugh

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Westport Village, located at 1315 Herr Ln, Louisville, KY 40222, presents a unique opportunity for retail businesses seeking high-visibility space in a thriving market. This 29,391 square foot strip center offers multiple spaces available, ranging from a minimum of 1,258 square feet to a maximum contiguous space of 24,000 square feet. Currently, the entire center is vacant, providing a blank canvas for a single large tenant or multiple smaller businesses. The property enjoys an ideal location off Westport Road, at its intersection with Herr Lane and Lyndon Lane, offering excellent accessibility and high traffic volume. Its proximity to Interstate 264 (Louisville's Inner Beltline) ensures convenient access for customers and employees. Furthermore, Westport Village benefits from its strategic position just 1.2 miles northeast of the St. Matthews retail market, Kentucky's largest, placing it within a densely populated and commercially active area. This presents a rare chance to establish a significant retail presence in a highly desirable location within Jefferson County. The property's size and flexibility make it suitable for a wide range of retail concepts. Interested parties are encouraged to inquire for further details and leasing options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Westport Village Shopping Center & Mall Fulton, Devlin & Powers, ... Law Firm BoomBozz Pizza & Watchbar Restaurant Pediatric Solutions Pediatrician Louisville Erectile Dysfunction ... Medical Group

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.6125104
    Latitude
    38.2676501

    Nearby Similar for Lease

    • $12 SF/Yr
      14,500 SF

      Retail Building with Drive-Thru

      14,500 SF retail building with drive-thru and ample parking.
      701 Valley College Dr, Louisville, KY 40272
      View Details
    • Contact for pricing

      MET Building

      Workspaces, services and support to help you work better in Miami Airport
      312 4Th St, Louisville, KY 40202
      View Details
    • Contact for pricing

      Brownsboro Crossing

      Workspaces, services and support to help you work better in Miami Downtown
      9850 Von Allmen Ct, Louisville, KY 40241
      View Details
    • Contact for pricing

      KY, Louisville - East Witherspoon St

      Discover many ways to work your way in Highland Pointe
      222 Witherspoon St, Louisville, KY 40202
      View Details
    • Contact for pricing

      KY, Louisville - Linn Station Road

      Discover many ways to work your way in San Antonio Airport
      10200 Linn Station Rd, Louisville, KY 10200
      View Details
    • $18 SF/Yr
      5,300 SF

      Medical Office Freestanding Building

      5,300 SF medical office building for lease in Louisville.
      927 E Broadway, Louisville, KY 40204
      View Details
    • $24 SF/Yr
      2,627 SF

      Medical Office Space For Rent

      Medical office space in high-traffic location near major retailers.
      9370 Cedar Center Way, Louisville, KY 40291
      View Details
    • $5 SF/Yr
      21,710 SF

      Downtown Louisville Warehouse and Showroom

      Warehouse with showroom and office space in downtown Louisville.
      1709-1711 W Main St, Louisville, KY 40203
      View Details
    • $12 SF/Yr
      5,700 SF

      Retail Space on New Cut

      Retail space with high visibility in Louisville, Kentucky.
      5530 New Cut Rd, Louisville, KY 40214
      View Details
    • $24 SF/Yr
      1,600 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility near major retailers and healthcare.
      9314 Cedar Center Way, Louisville, KY 40291
      View Details
    • Contact for pricing

      Grocery Anchored Retail Center

      Retail space in established shopping center near residential developments.
      12302 Taylorsville Rd, Louisville, KY 40299
      View Details
    • $6 SF/Yr
      17,479 SF

      Versatile Flex Space in Louisville

      Mix of office, shop, and open areas with crane.
      1900 W Muhammad Ali Blvd, Louisville, KY 40203
      View Details

    FAQs

    What type of property is this?
    Neighborhood center - Prime Louisville retail space, fully vacant.
    Where is this neighborhood center located?
    The property is located at 1315 Herr Ln Louisville, KY.
    What are key features of this property?
    This property features: I-264 access.; Strong tenant mix including national and local favorites.; High traffic count of 40,900 ADT on Westport Road.
    (502) 753-0080 Call to check price and availability
    Request Owner's contact information
    1315 Herr Ln Louisville, KY 40222
    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.
    1315 Herr Ln
    Louisville, KY 40222
    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
    1315 Herr Ln Louisville, KY 40222
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kevin Mayhugh
    Kevin Mayhugh
    Real Estate License ID: 10433631
    (502) 753-0080
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!