RETAIL SPACE FOR LEASE IN LOUISVILLE

Why implement your retail space in Louisville?

Louisville, Kentucky, presents an exciting array of retail space for lease, catering to a wide range of businesses and industries. With its dynamic retail scene and diverse consumer base, Louisville offers ample opportunities for entrepreneurs and established retailers alike. From prime storefronts in high-traffic commercial areas to boutique spaces in trendy neighborhoods, the city provides options to suit different business needs and target markets. 

Whether it's a fashion boutique, a specialty store, or a food and beverage establishment, businesses can find the perfect retail space in Louisville to showcase their products and engage with customers. With a supportive business environment, a strong local economy, and a growing population, Louisville is an ideal location for retail businesses seeking to establish or expand their presence in the region.

Looking for retail space in Louisville? Let our experts help you find the perfect location to grow your business.

How much does it cost to rent a retail space in Louisville?

The cost of renting a retail space in Louisville can vary depending on several factors, including the location, size, condition, amenities, and lease terms. Retail rental prices are typically quoted on a per-square-foot basis annually. The range of rental costs can differ based on the specific neighborhood and the demand for retail spaces in that area. In prime commercial areas and popular shopping districts, rental prices can range from $18 to $40 or more per square foot per year. Neighborhood retail spaces in less central locations may fall within the range of $10 to $25 per square foot per year. Strip malls and shopping centers generally offer rental rates between $12 and $30 per square foot per year, depending on the location and tenant mix. In suburban areas outside the city center, rental prices can range from $8 to $20 per square foot per year. 

To read: our Louisville MarketBeat Retail report analyzes quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Are retail space rents likely to increase in Louisville?

In growing cities like Louisville, where there is economic expansion and population growth, there is generally the potential for retail space rents to increase over time. If the demand for retail spaces exceeds the available supply, rental prices may rise. Additionally, factors such as the development of new shopping centers, the opening of popular retailers, and revitalization efforts in specific neighborhoods can also impact rental rates.

What types of retail spaces can I lease in Louisville?

In Louisville, a wide variety of retail spaces are available for lease, catering to different business needs and preferences. From charming storefronts in historic districts to modern spaces in bustling shopping centers, the city offers diverse options. You can find spaces in high-traffic areas like the Highlands, known for its eclectic mix of shops and restaurants, or in the trendy NuLu district, which is popular for its art galleries and unique boutiques. For those seeking larger spaces, suburban shopping centers and malls provide ample square footage and parking facilities. Additionally, Louisville's downtown area offers opportunities for retailers looking to tap into the urban market with spaces that attract both locals and tourists.

What is the most common size range of retail spaces available in Louisville?

Retail spaces in Louisville vary widely in size, accommodating businesses of all scales. Common size ranges typically start from smaller spaces of around 500 square feet, ideal for boutique shops or specialty stores, and extend to larger spaces exceeding 10,000 square feet, suitable for anchor stores or expansive showrooms. The flexibility in size allows retailers to find a space that perfectly fits their operational needs and business goals. Whether you are a small business owner looking for a cozy spot or a larger retailer seeking a prominent location, Louisville's real estate market offers a spectrum of options to explore.

What are common lease types for retail in Louisville?

In Louisville, retail leases are generally structured to suit the specific needs of both landlords and tenants. The most common lease types include gross leases, net leases, and percentage leases. A gross lease typically involves a single rental payment that covers all property expenses, including taxes, insurance, and maintenance. Net leases, on the other hand, require tenants to pay a base rent plus a portion of the property expenses, which can be categorized into single, double, or triple net leases depending on the extent of the tenant's responsibilities. Percentage leases are also popular, particularly in shopping centers, where tenants pay a base rent plus a percentage of their sales revenue. These flexible lease structures allow retailers to choose an arrangement that aligns with their financial strategies and operational requirements.

Popular neighborhoods in Louisville

• Downtown Louisville: The heart of the city, downtown offers a mix of retail spaces ranging from large storefronts on bustling streets to boutique shops in historic buildings. It attracts a diverse range of businesses and benefits from high foot traffic.
• East Market District (NuLu): Known for its vibrant and trendy atmosphere, NuLu is home to a thriving arts and culinary scene. It features unique retail spaces, including art galleries, specialty shops, and local boutiques, attracting a creative and discerning customer base.
• Highlands: The Highlands neighborhood is known for its eclectic and bohemian vibe. It offers a mix of independent shops, vintage stores, and local businesses, making it a popular destination for unique retail experiences.
• Westport Village: Located in the eastern part of Louisville, Westport Village is a pedestrian-friendly shopping center with a charming village atmosphere. It features a mix of specialty boutiques, restaurants, and service-oriented businesses.
• St. Matthews: This neighborhood is home to several retail centers, including Oxmoor Center and Mall St. Matthews. It offers a wide range of retail spaces and attracts both national retailers and local businesses.
• Bardstown Road/Baxter Avenue: This area is known for its vibrant nightlife and popular entertainment venues. It offers a mix of retail spaces, including trendy boutiques, specialty shops, and restaurants, catering to a diverse clientele.
• Shelbyville Road Corridor: Located in the eastern part of Louisville, this area features a variety of retail centers and shopping malls, including Paddock Shops and Mall St. Matthews. It offers a range of retail space options for businesses.

Getting to and from Louisville

Louisville, Kentucky, is well-connected and accessible through various transportation options. Here are the primary means of getting to and from Louisville:

• Air Travel: Louisville is served by the Louisville Muhammad Ali International Airport (SDF), which offers domestic and limited international flights. The airport is located approximately 10 miles south of downtown Louisville, and travelers can reach the city center by taxi, rideshare services, or rental cars available at the airport.
• Roadways: Louisville is situated at the intersection of several major highways, making it easily accessible by car. Interstate 64 and Interstate 65 pass through the city, connecting Louisville to other major cities in the region. Additionally, Interstate 71 and Interstate 264 provide convenient access to different parts of the city.
• Public Transportation: Louisville has a public transportation system called TARC (Transit Authority of River City), which operates buses throughout the city and surrounding areas. TARC buses provide an affordable means of transportation for getting around Louisville.
• Train Travel: Amtrak, the national passenger rail service, operates the Cardinal line, which connects Louisville to Chicago, Indianapolis, Cincinnati, and other cities. The Louisville Union Station serves as the city's train station, located downtown.

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