Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5905 Fegenbush Ln Louisville, KY 40228

    • Commercial land
    • 14.15 lot acres
    For Sale
    View listing
    Last Sale
    Mar 11, 2024
    $2,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0389589
    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.

    Current Use by Public Records

    • Commercial land

    Property Details for 5905 Fegenbush Ln

    Lot size
    14.15 lot acres
    Zone code
    C1-COMMERCIAL
    Property type
    Commercial land
    APN
    23063601350000
    APU
    23063601350000

    Description

    This exceptional 2.17-acre commercial development site, located at 5905 Fegenbush Ln, Louisville, KY 40228 (APN: 0635SROW0000), presents a unique investment opportunity. Currently zoned C-1, this property offers significant potential for a variety of commercial uses. The lot boasts a highly desirable location at a signalized corner with access to Fegenbush Lane and future roadway connection to S. Hurstbourne Parkway. All utilities are readily available on-site. The property is ideally suited for retail development, with suggested uses including a drug store, car wash, or gas station/convenience store. Priced at $550,000 per acre, this represents a compelling value in a thriving Louisville market. While this listing focuses on the 2.17-acre parcel, please inquire about the availability of additional acreage. The property is offered with a remaining lease term of 0.5 years. This prime location and flexible zoning make this an exceptional opportunity for investors and developers seeking a high-impact commercial development site in a rapidly growing area of Jefferson County. Don't miss this chance to secure a piece of Louisville's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,500,000
      ML approach
      $2,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.6394
    Latitude
    38.1641
    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
    $23,421
    $1,988,200
    $0.00
    $1,988,200
    -
    $1,988,200
    $0.00
    $1,988,200

    Comparable in this City

    • Value Estimation by Request
      0.60 Acres

      7925 Fegenbush Ln

      VACANT COMMERCIAL LAND • 0.60 Acres
      7925 Fegenbush Ln, Louisville, KY 40228-1753
      View Details
    • Value Estimation by Request
      2.30 Acres

      6412 Manslick Rd

      VACANT COMMERCIAL LAND • 2.30 Acres
      6412 Manslick Rd, Louisville, KY 40228-2304
      View Details
    • Value Estimation by Request
      0.92 Acres

      5711 Shepherdsville Rd

      VACANT COMMERCIAL LAND • 0.92 Acres
      5711 Shepherdsville Rd, Louisville, KY 40228
      View Details
    • Value Estimation by Request
      0.45 Acres

      7918 Fegenbush Ln

      VACANT COMMERCIAL LAND • 0.45 Acres
      7918 Fegenbush Ln, Louisville, KY 40228-1752
      View Details
    • Value Estimation by Request
      0.73 Acres

      6460 Outer Loop

      VACANT COMMERCIAL LAND • 0.73 Acres
      6460 Outer Loop, Louisville, KY 40228-1818
      View Details
    • Value Estimation by Request
      4.02 Acres

      5002 Shepherdsville Rd

      VACANT COMMERCIAL LAND • 4.02 Acres
      5002 Shepherdsville Rd, Louisville, KY 40228-1002
      View Details

    Similar Nearby for Sale

    • $500,500

      Commercial Land For Sale

      Commercial land with C-1 zoning, suitable for retail.
      5905 Fegenbush Ln, Louisville, KY 40228
      View Details
    • $775,000
      25.06 Acres

      Louisville Residential Land - 25 Acres

      Prime Louisville development land, R-4 & R-6 zoned.
      6601 Sunnyhill Rd, Louisville, KY 40228
      View Details
    • Contact for pricing
      1.40 Acres

      Prime Louisville Commercial Land

      1.4-acre C-1 zoned lot, ideal retail site.
      5905 Fegenbush Ln, Louisville, KY 40228
      View Details
    • $579,000
      2.00 Acres

      Louisville Townhome Development Land

      Prime 2-3.5 acre site, 25+ townhome potential.
      7402 Beulah Church Rd, Louisville, KY 40228
      View Details
    • $225,000
      4.00 Acres

      Hurstbourne Parkway Commercial Land

      Prime Louisville location, excellent access, zoned PEC & C-1.
      7300 Hurstbourne Pkwy, Louisville, KY 40228
      View Details
    • Contact for pricing
      0.50 Acres

      Outlot Available Outer Loop Plaza

      Individual retail properties • 0.50 Acres
      7607 Outer Loop, Louisville, KY 40228
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Land Near GE Appliance

      4.2-acre commercial land for lease near GE Appliance Park.
      5002 Shepherdsville Rd, Louisville, KY 40228
      View Details
    • $1.00 SF/Yr
      124,000 SF

      Outer Loop Plaza: Retail Redevelopment

      Louisville, KY Retail Space: Redevelopment Opportunity
      7525 Outer Loop, Louisville, KY 40228
      View Details
    • $7 SF/Yr
      150,000 SF

      Louisville Warehouse Space Available

      Class A industrial space, 61,777 SF available
      5500 Shepherdsville Rd, Louisville, KY 40228
      View Details
    • $4 SF/Yr
      29,324 SF

      Warehouse/Distribution Space Available

      Clean warehouse/distribution space with dock and drive-in loading.
      6020 Shepherdsville Rd, Louisville, KY 40228
      View Details
    • $12 SF/Yr
      1,392 SF

      Poplar Park Office Space Available

      Office space for rent in Poplar Park, Louisville.
      5611 Fern Valley Rd, Louisville, KY 40228
      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.
    5905 Fegenbush Ln
    Louisville, KY 40228
    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.