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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10508 Fischer Park Dr Louisville, KY 40241

    • Power centers
    • 444,503 SF
    • 58.48 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Springhurst Towne Center / Shopping Center & Mall

    Property Details for 10508 Fischer Park Dr

    Year built
    1997
    Lot size
    58.48 lot acres
    Property size
    444,503 SF
    Property type
    Power centers
    Property subtype
    Retail properties

    Description

    Springhurst Towne Center, a premier open-air retail destination in Louisville's affluent east end, offers exceptional investment opportunities. This power center boasts 444,503 square feet of retail space across 37 suites, currently showing 41,000 square feet of available space. Built in 1997 and renovated in 2020, the property sits on 58.48 acres of land in Jefferson County's Springhurst submarket. The center enjoys unparalleled visibility and accessibility, strategically located near I-265 (78,490 vehicles per day) and Westport Rd (41,974 vehicles per day). Its impressive tenant roster includes major retailers such as Cinemark, TJ Maxx, Dick's Sporting Goods, Kohl's, and Hobby Lobby, further strengthened by shadow anchors Target and Meijer. Available spaces range from 1,200 to 20,000 square feet, providing flexibility for a variety of retail concepts. This consistently high-occupancy center presents a rare opportunity to establish a presence in one of Louisville's most desirable retail locations. The property's strong performance history and prime location make it an ideal investment for discerning buyers seeking a stable and high-growth retail asset.

    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
    -85.5564
    Latitude
    38.2982

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      0.32 Acres

      4804 Murphy Lnr

      RETAIL STORES (PERSONAL SERVICES) • 0.32 Acres
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    • Value Estimation by Request
      0.00 Acres

      5100 Us Hwy 42nd, Unit 1223

      RESIDENTIAL PARKING GARAGE • 0.00 Acres
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      34.64 Acres

      10501 Trotters Pointe Dr, Unit 204

      RESIDENTIAL PARKING GARAGE • 34.64 Acres
      10501 Trotters Pointe Dr, Louisville, KY 40241-1285
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    • Value Estimation
      $545,000
      2.06 Acres

      10620 Westport Rd

      RETAIL STORES (PERSONAL SERVICES) • 2.06 Acres
      10620 Westport Rd, Louisville, KY 40241-1959
      View Details

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    Similar Nearby for Lease

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      444,503 SF

      Springhurst Towne Center Retail

      Prime Louisville Retail Space Available
      10508 Fischer Park Dr, Louisville, KY 40241
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    10508 Fischer Park Dr
    Louisville, KY 40241
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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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