Premier Downtown Louisville Development Site

Vacant Land for Sale
Also listed as Retail-Commercial, Multi-Family
Catylist Listing ID: 29890400
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Vacation/Resort, Other
Gross Land Area: 2.72 Acres
Sale Price: $8,900,000
Unit Price: $3,272,058 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 4/4/2018

Overview / Comments

Rare opportunity to acquire a premier development site in Downtown Louisville. The site, which is 2.72 total acres is located in the heart of the NuLu neighborhood and is comprised of 2 contiguous parcels at 700 East Main Street & 121 S. Clay Street. It is a true rarity to have such a large, one-owner tract in this location. The site is ideal for a large mixture of uses that include, but is not limited to entertainment & hospitality, retail, office, hotel, apartments, residential condos and medical.

This property is prime for a substantial development project that would be truly transformative for the surrounding neighborhood and Downtown Louisville as a whole. The site is a full city block that stretches along East Main Street from S. Shelby Street to the West to S. Clay Street. In a high profile, high traffic location that includes 2 North facing corners along East Main Street.

The “NULU” neighborhood in Downtown Louisville has started to undergo a major transformation with its location and its reputation as being Louisville’s hip & vibrant neighborhood, an area that contains Louisville’s newest and hottest restaurants and retail users. The site also takes advantage of close proximity to the historic Butchertown neighborhood to the North. Directly across the E. Main Street, a new 7-story, 260+ unit, Class A apartment complex is currently under construction and directly to the South on the block facing E. Market Street, a new 6-story, 150 room AC Marriot Hotel. The site serves as a gateway to the CBD to the West, and is also in close proximity to such attractions as Louisville Slugger Field, The KFC Yum! Center, and the Louisville Convention Center. It is also steps from many downtown hotels. Given the location, this represents one of the most prime, underdeveloped tracts in the City.

Louisville has recently been recognized as one of the country’s most promising “18 hour cities” and the Downtown sub-market is entering a phase of major growth. This opportunity allows a developer or user to participate in a substantial project in a market that is undergoing dramatic improvements with the doubling of the convention center, addition of over 1,000 new hotel rooms, new construction apartments and renovation of older apartment properties into Class A product.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 017D01440000
Zoning: EZ-1 - Enterprise Zone District
Property Located Between: S. Clay Street & S. Shelby Street
Property Visibility: Excellent
Largest Nearby Street: E. Main Street
Feet of Frontage: 530
Traffic/Vehicle Count: 12,000
Highway Access: I-65, I-71, I-64
Airports: SDF
Zoning Description: 700 E. Main Street is currently zoned EZ-1 121 S. Clay Street is currently zoned C-2
Topography: Level

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,059 131,881 315,332
Median Age: 36.45 36.13 37.43
Households: 5,245 59,524 137,265
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