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    Veechdale Rd Simpsonville, KY 40067

    • Retail properties
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Veechdale Rd

    Property type
    Retail properties
    Property subtype
    Office Properties & Spaces

    Description

    Two commercial lots totaling 2.49 acres are available for lease or sale in Simpsonville, KY. Located in Shelby County (APN 016A-03-002), this property offers exceptional visibility and accessibility. Zoned C-Commercial, the land is ready for immediate development, with all utilities available and detention already off-site. Ground leases are preferred, but outright sale of some lots is being considered. The site boasts excellent exposure from I-64, situated just east of the Gene Snyder Freeway (I-265) at the first Shelby County exit on Highway 1848. This strategic location benefits from proximity to major traffic arteries including US Highway 60 and Interstate 64, providing convenient access to Shelbyville, Frankfort, Lexington, Louisville, Evansville (IN), and St. Louis (MO). The surrounding area is characterized by significant commercial activity, making this an ideal location for a variety of businesses. Lot sizes range from approximately one to 2.49 acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Simpsonville
    County
    Shelby
    State
    Kentucky
    Longitude
    -85.3732
    Latitude
    38.1937

    Comparable in this City

    • Value Estimation by Request
      0.86 Acres

      1848 New Veechdale Rd

      Land • 0.86 Acres
      1848 New Veechdale Rd, Simpsonville, KY 40067
      View Details
    • Value Estimation by Request
      6.68 Acres

      6810 Shelbyville Rd

      Restaurants • 6.68 Acres
      6810 Shelbyville Rd, Simpsonville, KY 40067
      View Details
    • Value Estimation by Request
      5.51 Acres

      54 Just A Mere Ln

      Land • 5.51 Acres
      54 Just A Mere Ln, Simpsonville, KY 40067
      View Details
    • Value Estimation by Request
      8.95 Acres

      100 Saratoga Trl

      OFFICE (GENERAL) • 8.95 Acres
      100 Saratoga Trl, Simpsonville, KY 40067-6443
      View Details
    • Value Estimation by Request
      3.12 Acres

      211 Main St

      OFFICE (GENERAL) • 3.12 Acres
      211 Main St, Simpsonville, KY 40067-6409
      View Details
    • Value Estimation by Request
      1.99 Acres

      7387 Shelbyville Rd

      OFFICE (GENERAL) • 1.99 Acres
      7387 Shelbyville Rd, Simpsonville, KY 40067-6530
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.86 Acres

      Simpsonville Commercial Land

      Two lots, 2.49 acres, prime location
      1848 New Veechdale Rd, Simpsonville, KY 40067
      View Details
    • $1,500,000
      3.00 Acres

      Simpsonville Industrial Land Sale

      6-Acre Industrial Site, Prime Location
      0 Innovation Way, Simpsonville, KY 40067
      View Details
    • $1,100,000

      Large Lot Behind Filling Station

      Large commercial land lot available behind a filling station.
      802 Aristocraft, Simpsonville, KY 40067
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Simpsonville KY Commercial Land

      Prime KY commercial lots, ready to develop.
      0 Veechdale Rd, Simpsonville, KY 40067
      View Details
    • Contact for pricing
      45,600 SF

      Old Stone Junction: Simpsonville Retail Land

      Prime Simpsonville KY Retail Development Opportunity
      6810 Shelbyville Rd, Simpsonville, KY 40067
      View Details
    • $9 SF/Yr
      31,714 SF

      Simpsonville Warehouse with Office Space

      Warehouse with office space for lease in Simpsonville, Kentucky.
      40 Kingbrook Ct, Simpsonville, KY 40067
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    • $11 SF/Yr
      31,714 SF

      Kingbrook Ct Industrial Space

      11,800 SF Flex Space Available
      42 Kingbrook Ct, Simpsonville, KY 40067
      View Details
    • Contact for pricing
      505,440 SF

      New Industrial Space Under Construction

      Under construction: 270,400± SF industrial space in Simpsonville, KY.
      & I 64 Buck Creek Rd, Simpsonville, KY 40067
      View Details
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    Simpsonville, KY 40067
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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.

    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
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