5101 Preston HwyLouisville, KY 40213

Property Details for 5101 Preston Hwy

Year built

1974

Lot size

0.64 AC

Property size (Sq ft)

2,744 SF

Zone code

C1-COMMERCIAL

Property type

Turn key restaurants

APN

23079800970000

APU

23079800970000

Description

This exceptional 0.64-acre commercial property, located at a signalized intersection on Preston Highway in Jefferson County, presents a prime retail investment opportunity. The property features a 3,602 square foot building, currently occupied by a fast-food/drive-thru restaurant that will soon be vacant, leaving 2,744 square feet available. The building, constructed in 1974, is a single-story structure with 30 parking spaces. The site's strategic location offers unparalleled visibility and accessibility, making it ideal for a variety of retail or restaurant uses. The property is zoned C1 and boasts strong demographics, with approximately 60,000 people residing within a three-mile radius and over 2,700 households within one mile. This presents a unique chance to capitalize on a thriving market, especially considering the seller's closure of similar locations in Louisville, indicating a potential for strong future demand. The lot size is 27,878 square feet, providing ample space for expansion or additional development. This is a rare opportunity to acquire a well-positioned pad site in a high-traffic area with significant growth potential. The property is ready for immediate occupancy and offers a blank canvas for a new business venture.

• CAP approach

  CAP return

  Valuation

  6%

  $497,573

  6.5%

  $459,298

  7%

  $426,491

• Comparable approach

  Method

  Valuation

  Relative Method

  $595,233

  Geo Method

  $595,233

• Alternative Use

  Use

  Valuation

  Residential

  $387,435

  Hospitality

  $354,888

  Educational

  $295,263

  Medical

  $305,418

  Retail

  $459,298

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.1746

Longitude

-85.7121

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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