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

    9108 Preston Hwy Louisville, KY 40219

    • Commercial real estate
    • 2.35 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2337735
    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 real estate

    Property Details for 9108 Preston Hwy

    Lot size
    2.35 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.35-acre commercial and residential zoned (R-4) land parcel presents a unique investment opportunity in Louisville, Kentucky. Located at the highly visible signalized intersection of Preston Highway and South Park Road, this property boasts approximately 350 feet of frontage on Preston Highway and 250 feet along South Park Road, benefiting from nearly 24,000 vehicles passing daily. The site, encompassing addresses 9108-9110-9112-9118 Preston Highway, is divisible into two parcels of approximately one acre each, offering flexibility for development. This rapidly growing area is experiencing significant commercial expansion, with recent additions including a new Menards and Lowe's, along with planned developments such as a Chick-fil-A. The property's strategic location is further enhanced by the presence of a Thornton's and Circle K convenience stores at the same intersection. This prime location, coupled with the high traffic count and ongoing development, makes this property an ideal investment for developers seeking to capitalize on the area's substantial growth. The asking price is $1,650,000. Jefferson County, KY zip code 40219.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.6778989
    Latitude
    38.1189354

    Comparable in this City

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      0.84 Acres

      Louisville Commercial Land - Build to Suit

      0.84-acre lot, prime Louisville location.
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    • $1,000,000
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      Retail Land For Sale

      Retail land available on a busy corner with high visibility.
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      Louisville Commercial Land - $750K

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      South Park Road Land - Louisville, KY

      12 Acres, R-4 Zoning, High Traffic
      0 South Park Rd, Louisville, KY 40219
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    • $1,000,000
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      Prime Louisville Commercial Land

      High-traffic corner lot, C-2 zoning.
      6517 Preston Hwy, Louisville, KY 40219
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    Similar Nearby for Sale

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    • $1,000,000
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      Prime Louisville Commercial Land

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      6517 Preston Hwy, Louisville, KY 40219
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    • $900,000
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      Prime Louisville Commercial Land

      4.24 Acres, I-65 Access, $1.2M
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      Outer Loop Commercial Land - 6.5 Acres

      Prime Louisville commercial land, high visibility, R4 zoning.
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      0.84 Acres

      Louisville Commercial Land - Build to Suit

      0.84-acre lot, prime Louisville location.
      5775 Preston Hwy, Louisville, KY 40219
      View Details

    Similar Nearby for Lease

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      Outer Loop Commercial Land - 1.21 Acres

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      Land Near Louisville Airport

      Land available for rent near Louisville Muhammad Ali International Airport.
      5601 Preston Hwy, Louisville, KY 40219
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    • $232,313
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      Prime Commercial Development Site Available

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      Preston Hwy Build-to-Suit Land

      8.4 Acres, High-Traffic Location
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      169,783 SF

      Festival at Jefferson Court Medical Office Space

      Jefferson Mall-adjacent medical office suite available.
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      Jefferson Mall Retail Spaces

      Prime Louisville Mall Retail, 6 Spaces Available
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    9108 Preston Hwy
    Louisville, KY 40219
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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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