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    393 & I-71 Hwy Buckner, KY 40010

    Sponsored
    For Sale
    $2,374,500

    High-traffic Tulare location, 1,000 sq ft.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional retail storefront opportunity is situated on the highly visible southeast corner of Prosperity Avenue and Hillman Street in Tulare County. Boasting 1,000 square feet of vacant space, this property benefits from its strategic location at the entrance to Tulare's main retail area, directly accessible from the 99 Freeway's on and off-ramps. The site enjoys excellent visibility and accessibility, enhanced by a signalized intersection and driveway access from both Hillman Street and Prosperity Avenue. Monument signage and street-front sidewalk further amplify its appeal. This prime location places the property across from major retailers including Walmart, Smart & Final, Home Depot, and the access route to the Tulare Outlet Mall. The surrounding area is densely populated with national retailers such as Ross, dd's Discounts, Dollar Tree, FoodsCo, Big 5, Big Lots, O'Reilly, CVS, and Walgreens. A diverse range of national restaurant chains are also nearby, including IHOP, Blaze Pizza, Long John Silver's, Taco Bell, Del Taco, Carl's Jr, Sonic Drive-In, Panda Express, Subway, Deli Delicious, Jamba Juice, Dickies, Farmer Boys, Me-n-Ed's, Chili's, and Fugazzi's. This property presents a unique chance to establish a thriving business in a high-traffic, well-established retail corridor. The multiple tenancy option allows for flexibility and potential for growth.

    Property Features for 393 & I-71 Hwy

    General Information

    Property type
    Land
    Lot Size
    689,555 SF

    HighLights

    • 1,000 SF vacant storefront available in Tulare County.
    • High‑visibility location on Tulare's busiest retail corridor, Prosperity Ave., at the signalized intersection with Hillman St.
    • Excellent access from Highway 99 on/off ramps.
    • Monument signage and ample street frontage.
    • Located near major national retailers including Walmart, Home Depot, and Smart & Final, and numerous restaurants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Buckner
    County
    Oldham
    State
    Kentucky
    Longitude
    -85.4269316
    Latitude
    38.3750872

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      La Grange Retail Investment Opportunity

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    FAQs

    What type of property is this?
    Land - High-traffic Tulare location, 1,000 sq ft.
    Where is this land located?
    The property is located at 393 & I-71 Hwy Buckner, KY.
    What is the asking price?
    The asking price for this property is $2,374,500.
    What are key features of this property?
    This property features: 1,000 SF vacant storefront available in Tulare County.; High-visibility location on Tulare's busiest retail corridor, Prosperity Ave., at the signalized intersection with Hillman St.; Excellent access from Highway 99 on/off ramps.
    (502) 719-3221
    Request Owner's contact information
    393 & I-71 Hwy Buckner, KY 40010
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    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.

    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
    393 & I-71 Hwy Buckner, KY 40010
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