Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    3501 Springhurst Blvd Louisville, KY 40241-4144
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3501 Springhurst Blvd Louisville, KY 40241-4144

    View on Map
    • Retail space
    • 23,500 SF
    • 1.95 lot acres
    Off-Market
    Property ID
    US34-0349380
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,030,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • OfficeMax / (Bike/Boat/Book/etc) Store
    • OfficeMax Tech Services / Tech Support Center / IT Consulting Firm
    • OfficeMax Print & Copy Services / (Bike/Boat/Book/etc) Store / Printing Service
    • FedEx Drop Box / Postal Service / Courier Service
    • FedEx ShipSite / Postal Service / Courier Service

    Property Details for 3501 Springhurst Blvd

    Year built
    1998
    Lot size
    1.95 lot acres
    Property size
    23,500 SF
    Zone code
    C2-COMMERCIAL
    Property type
    Retail space
    APN
    21299800350000
    APU
    21299800350000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $709,000
      Market price range: $453k - $2.32M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.5592
    Latitude
    38.297
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $36,015
    $1,220,120
    $1,889,990
    $3,110,110
    -
    $1,220,120
    $1,889,990
    $3,110,110

    Comparable in this City

    • Value Estimation by Request
      1.79 Acres

      10009 Brownsboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.79 Acres
      10009 Brownsboro Rd, Louisville, KY 40241-1101
      View Details
    • Value Estimation by Request
      1.11 Acres

      4152 Towne Ctr Dr

      RETAIL STORES (PERSONAL SERVICES) • 1.11 Acres
      4152 Towne Ctr Dr, Louisville, KY 40241-4153
      View Details
    • Value Estimation
      $1,535,000
      13,827 SF

      9702 Westport Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,827 SF
      9702 Westport Rd, Louisville, KY 40241-2138
      View Details
    • Value Estimation
      $2,665,000
      27,403 SF

      10220 Westport Rd

      RETAIL STORES (PERSONAL SERVICES) • 27,403 SF
      10220 Westport Rd, Louisville, KY 40241-2148
      View Details
    • Value Estimation
      $580,000
      3,936 SF

      11301 Westport Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,936 SF
      11301 Westport Rd, Louisville, KY 40241-3807
      View Details
    • Value Estimation
      $6,035,000
      85,701 SF

      9451 Westport Rd

      RETAIL STORES (PERSONAL SERVICES) • 85,701 SF
      9451 Westport Rd, Louisville, KY 40241-2294
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      5.66 Acres on Brownsboro Road

      Land available in high-growth Louisville area near I-71.
      10501 Brownsboro Rd, Louisville, KY 40241
      View Details
    • Contact for pricing

      New Single-Tenant Zaxby's Restaurant

      New Zaxby's restaurant with a 15-year absolute net lease.
      9903 Brownsboro Rd, Louisville, KY 40241
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,000 SF

      Louisville Retail Space For Rent

      Retail and dining space available in Louisville's premier shopping destination.
      4001-4031 Summit Plaza Dr, Louisville, KY 40241
      View Details
    • Contact for pricing
      7,000 SF

      Retail Space in Paddock Shops

      Retail and dining destination in Louisville and southern Indiana.
      4200-4292 Summit Plaza Dr, Louisville, KY 40241
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      4100 Towne Center Dr, Louisville, KY 40241
      View Details
    • Contact for pricing

      Jefferson Trade Center Flex Space

      361,900 SF complex at I-265 and Westport Road.
      3600 Chamberlain Ln, Louisville, KY 40241
      View Details
    • Contact for pricing

      Retail Space Near Major Retailers

      Well-located shopping center near major retailers and hotels.
      3600 Springhurst Blvd, Louisville, KY 40241
      View Details
    • Contact for pricing

      Premier Louisville Open-Air Retail Hub

      High-occupancy retail center with excellent visibility and accessibility.
      10508 Fischer Park Dr, Louisville, KY 40241
      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.
    3501 Springhurst Blvd
    Louisville, KY 40241-4144
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!