Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3421 Broadway Louisville, KY 40211
    Back to Search
    Property profile & analytics

    3421 Broadway Louisville, KY 40211

    View on Map
    • Retail properties & Spaces
    • 10,560 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Matthew D. Brooks, PharmD / Pharmacy
    • PNC ATM / Atm

    Property Details for 3421 Broadway

    Property size
    10,560 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a 10,560 square foot Family Dollar storefront located at 3421 W Broadway, Louisville, KY 40211. The property, a single-story building, underwent a complete renovation in 2013 and boasts a 100% occupancy rate. The current lease, a modified net lease with rent bumps and options, commenced June 29, 2013, and expires June 28, 2028, leaving approximately 3.6 years remaining. The tenant, Family Dollar, is backed by a corporate guarantee from Dollar Tree, a Fortune 500 company with an investment-grade credit rating. The property generates a strong net operating income (NOI) of $90,293, resulting in an attractive 9.0% cap rate at an asking price of $1,000,000. Situated in a prime location within Louisville's residential neighborhoods, this property benefits from a dense population base exceeding 85,000 residents within a 3-mile radius and over 215,000 within 5 miles. The success of this location is further evidenced by Family Dollar's recent 5-year lease renewal in 2023. This is a rare opportunity to acquire a high-performing, credit-rated net lease property in a densely populated area with significant growth potential. The property's strong performance and favorable lease terms make it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.8097
    Latitude
    38.2502

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      3308 Algonquin Pkwyr

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      3308 Algonquin Pkwyr, Louisville, KY 40211-1911
      View Details
    • Value Estimation by Request
      0.16 Acres

      517 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      517 Oak St, Louisville, KY 40211
      View Details
    • Value Estimation by Request
      0.24 Acres

      Mccawley Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.24 Acres
      Mccawley Rd, Louisville, KY 40211
      View Details
    • Value Estimation by Request
      6.51 Acres

      Poplar Level Rd

      RETAIL STORES (PERSONAL SERVICES) • 6.51 Acres
      Poplar Level Rd, Louisville, KY 40211
      View Details
    • Value Estimation by Request
      0.10 Acres

      1223 Dl Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.10 Acres
      1223 Dl Ave, Louisville, KY 40211
      View Details
    • Value Estimation by Request
      0.16 Acres

      3121 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      3121 Broadway, Louisville, KY 40211-1434
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase.
      3140 Wilson Ave, Louisville, KY 40211
      View Details
    • $520,000
      1.00 Acre

      Louisville Retail Property For Sale

      Retail property in high-traffic area, generating monthly income.
      3958 Cane Run Rd, Louisville, KY 40211
      View Details
    • $774,000
      10,848 SF

      Louisville Multifamily Investment Opportunity

      Well-maintained 12-unit property near Shawnee Park.
      649 S 44Th St, Louisville, KY 40211
      View Details
    • Contact for pricing
      58,811 SF

      Versatile Industrial Property For Sale

      Over 58,000 SF industrial property with flexible applications.
      2612 W Chestnut St, Louisville, KY 40211
      View Details
    • Contact for pricing

      Commercial Land Available For Sale

      0.825 acre commercial land suitable for multiple development uses.
      3048 W Broadway, Louisville, KY 40211
      View Details

    Similar Nearby for Lease

    • $10,000 /Mo
      18,000 SF

      Prime Retail Center For Sale

      2.45-acre retail center with strong tenants and growth potential.
      3115 W Broadway, Louisville, KY 40211
      View Details
    • Contact for pricing

      Available Commercial Space For Lease

      100,922 SF of commercial space available for lease.
      4250 Bells Ln, Louisville, KY 40211
      View Details
    • Contact for pricing
      98,659 SF

      Industrial Space with Rail Access

      100,922 SF available with rail service near airport.
      4250 Bells Ln, Louisville, KY 40211
      View Details
    • Contact for pricing
      65,000 SF

      Industrial Space Available For Sublease

      65,000 SF industrial space available for sublease.
      3000 W Broadway, Louisville, KY 40211
      View Details
    Request Owner's contact information
    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.
    3421 Broadway
    Louisville, KY 40211
    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
    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

    Thank You for Inquiry
    3421 Broadway, Louisville, KY, 40211
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!