Commercial Real Estate Market in Prospect, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
26 active listings and 265 off-market properties in Prospect, KY. Commercial property asks $1,220/SF to buy and $27.61/SF/Yr to lease.
Market Trends
Prospect, KY spans 28.2 square miles in Jefferson County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Prospect, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Prospect, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Prospect, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Prospect, KY asks $120/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 98.2%
- Commercial 1.9%
Largest Zones share of zoned land by district
Residential Single Family District
Residential Multifamily District
Residential Single Family District
Residential Multifamily District
Commercial District
Prospect, KY zones 2,497 acres across 12 districts. Commercial zoning covers 1.9% of zoned land, residential 98.2%. The largest single district is Residential Single Family District at 88.3%. For commercial buyers the practical constraint is that only 1.9% of land carries a commercial or industrial designation.
Residential Single Family District (R4)
The R-4 District is intended for low-density, single-family residential development, preserving neighborhood character and open space.
Market overview
Demographics & Economy
Prospect, KY has 20,254 residents in 8,400 households. Density runs 719 people per square mile. Median household income here is $165,000 and median gross rent $1,844 a month.
20,254
Population
8,400
Households
2.4
Avg Household Size
45
Median Age
71%
College-Educated
99%
High-School Grad
28.2 sq mi
ZIP Area
719
Density / Sq Mi
$165,000
Median Household Income
$83,963
Median Earnings
$1,844
Median Rent
$533,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| River Bluff | — | — |
| Green Spring | — | — |
| Utica | — | — |
| Hills And Dales | — | — |
Commercial property in Prospect, KY asks $1,220/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Prospect?
Commercial property in Prospect, KY asks an average of $1,220 per square foot. The 4 most recent recorded sales traded at a median of $357/SF, so asking sits 242% above the achieved median. Multifamily carries the highest asking price at $120/SF.
How much does it cost to lease commercial space in Prospect?
Asking lease rates in Prospect, KY average $27.61 per square foot per year.
What zoning applies to commercial property in Prospect?
Prospect, KY zones 2,497 acres across 12 districts, of which 1.9% is commercial and 0% industrial. The largest single district is Residential Single Family District at 88.3% of zoned land. The R-4 District is intended for low-density, single-family residential development, preserving neighborhood character and open space. Residential zoning covers 98.2% and open space 0%.
Where does Realmo's Prospect market data come from?
Realmo compiles Prospect, KY figures from 7 recent recorded sales, 17 active sale listings, 9 active lease listings, 265 tracked off-market properties, the current Prospect zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 17 active for-sale and 9 active for-lease listings in Prospect, KY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 2,497 zoned acres across 12 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level, industrial vacancy is reported at South region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
