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    54 Just A Mere Ln Simpsonville, KY 40067
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    Property profile & analytics

    54 Just A Mere Ln, Simpsonville, KY 40067

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    • Commercial real estate
    • 5.51 lot acres
    Off-Market
    Property ID
    US34-1693108
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 54 Just A Mere Ln

    Lot size
    5.51 lot acres
    Property type
    Commercial real estate
    APN
    015-00-007

    Description

    This exceptional 5.51 to 6.5-acre commercial land parcel presents a unique investment opportunity in Simpsonville, KY. Located at 54 Just a Mere Ln, 40067, this property boasts a strategic position between the expanding Louisville east end and the western entrance to one of Kentucky's fastest-growing communities within Shelby County. Its prime location on Shelbyville Road offers unparalleled visibility and accessibility. Currently zoned R-1 (Residential - Very Low Density), the property is bordered by the Cardinal Club community, which includes a championship golf course, creating a desirable blend of rural charm and suburban convenience. The potential for increased density is evident given neighboring developments, and all utilities are readily available, simplifying development plans. The asking price is $850,000, and the parcel's APN is 015-00-007. This land offers significant potential for both development and investment, making it an attractive proposition for discerning buyers seeking a foothold in a thriving Kentucky market. The property is situated within the city limits of Simpsonville, offering access to local amenities and infrastructure. This is a rare opportunity to acquire a sizable lot in a high-growth area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Simpsonville
    County
    Shelby
    State
    Kentucky
    Longitude
    -85.3619098
    Latitude
    38.2218679

    Comparable in this City

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    • New
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      Simpsonville, KY Land Opportunity

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      Commercial Lots Near I-265

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    • $1,100,000

      Large Lot Behind Filling Station

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    • $400,000

      Prime Land on Shelbyville Road

      0.68 acre commercial land with high visibility and traffic.
      6926 Shelbyville Rd, Simpsonville, KY 40067
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    • $315,000
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      Simpsonville Land Ideal Home Site

      6.08 acre lot near I-64 with utilities available.
      Taylor Wood Rd, Simpsonville, KY 40067
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    Similar Nearby for Sale

    • $1,500,000
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      Simpsonville Industrial Land Sale

      6-Acre Industrial Site, Prime Location
      0 Innovation Way, Simpsonville, KY 40067
      View Details
    • New
      $44,900
      Pending

      Simpsonville, KY Land Opportunity

      Land with road frontage near I-64 in growing community.
      Bullitt Rd, Simpsonville, KY 40067
      View Details
    • Contact for pricing

      Commercial Lots Near I-265

      Two commercial lots totaling 2.49 acres near I-265.
      1848 New Veechdale Rd, 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
    • $400,000

      Prime Land on Shelbyville Road

      0.68 acre commercial land with high visibility and traffic.
      6926 Shelbyville Rd, Simpsonville, KY 40067
      View Details
    • $315,000
      6.08 Acres

      Simpsonville Land Ideal Home Site

      6.08 acre lot near I-64 with utilities available.
      Taylor Wood Rd, Simpsonville, KY 40067
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Land on Shelbyville Road

      High-visibility land for diverse development near major retail.
      6810 Shelbyville Rd, Simpsonville, KY 40067
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      Commercial Lots Near I-64

      Two commercial lots totaling 2.49 acres near I-64.
      Veechdale Rd, 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.
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      Retail Space in Simpsonville, KY

      Retail space available for lease in Simpsonville, Kentucky.
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      270,400 SF

      New Industrial Space Under Construction

      270,400 SF industrial space available for lease.
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    • Contact for pricing
      757,120 SF

      Simpsonville Warehouse Space Available

      757,120 sq ft warehouse space for lease.
      820 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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