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    970 3Rd St Louisville, KY 40203

    Sponsored
    For Lease
    $19 SF/Yr ($1,995 /Mo)

    Louisville Retail Building - 1245 sq ft

    Lot size:
    1,245 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1,245-square-foot free-standing retail building, located at 970 S 3rd St in Louisville, Kentucky, presents a unique investment opportunity. Formerly home to the beloved D. Nalley's diner for many years, this landmark property boasts a rich history and prime location within the thriving SoBro district. Built in 1960, the single-story building is zoned PD and offers ample parking at the rear. Its ideal setup for a restaurant makes it an attractive option for food and beverage businesses, but its versatile design allows for adaptation to various alternative uses. Benefitting from its proximity to both the residential areas of Old Louisville and the educational corridor (Spalding University and the University of Louisville), this property enjoys high visibility and convenient access to downtown Louisville. The building's single-tenant occupancy provides flexibility and control for the new owner or lessee. This is a rare chance to acquire a well-established property in a rapidly growing area of Louisville, offering significant potential for return on investment. The property's history as a successful neighborhood diner provides a strong foundation for future success. The ample parking is a significant advantage in a densely populated area. This property is ready for its next chapter.

    Property Features for 970 3Rd St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,245 SF
    Total Rate
    1995.11

    Building Details

    Year Built
    1960
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    1,245 SF
    Rate per SF
    $19

    HighLights

    • 1,245‑square‑foot free‑standing retail building in Louisville, KY's SoBro district.
    • Prime location with ample rear parking.
    • Zoned PD, suitable for restaurant or other uses.
    • High visibility near Old Louisville and universities.
    • Single‑tenant occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    D. Nalley's Diner

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.7581266
    Latitude
    38.239197

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    FAQs

    What type of property is this?
    Restaurant - Louisville Retail Building - 1245 sq ft
    Where is this restaurant located?
    The property is located at 970 3Rd St Louisville, KY.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 1,245-square-foot free-standing retail building in Louisville, KY's SoBro district.; Prime location with ample rear parking.; Zoned PD, suitable for restaurant or other uses.
    Request Owner's contact information
    970 3Rd St Louisville, KY 40203
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    Louisville, KY 40203
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    Realmo Value Estimation

    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.

    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.

    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
    970 3Rd St Louisville, KY 40203
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