REDEVELOPMENT OPPORTUNITY - Red Carpet Inn - Louisville
Phenomenal Location | Just off one of Louisville's highest traffic roads
Marketing description
1640 S. Hurstbourne Parkway sits at the heart of Louisville's premier eastern commercial corridor — one of the most established and high-performing trade areas in the metro. The property benefits from exceptional visibility and strong daily traffic counts along Hurstbourne Parkway, with direct access to I-64, I-264, and Shelbyville Road, placing it within minutes of the entire Louisville MSA.
The surrounding corridor is a dense concentration of national retail, hospitality, medical, and professional office uses, generating consistent daytime population and consumer traffic throughout the week. Major anchors, restaurants, and service businesses line the corridor, supported by some of Louisville's most affluent residential communities directly behind the commercial strip — a demand profile that sustains occupancy and lease rates across asset classes.
For investors and developers, this 4.99-acre site represents a rare large-format opportunity in a corridor where available land is scarce, redevelopment comps are strong, and market fundamentals continue to outperform the broader Louisville metro.
Investment highlights
- The corridor is anchored by two Krogers, Target, Home Depot, Petco, Shoe Carnival, and an AMC theater — a proven, established retail hub that de-risks new development and attracts national tenants.
- The Hurstbourne Pkwy/Taylorsville Rd intersection is the most highly trafficked in Kentucky at 96,375 vehicles —exceptional daily consumer and commercial exposure.
- Louisville's east-end suburbs are leading retail absorption, with overall metro retail vacancy projected at 3.5%. Tight supply on this corridor supports strong lease rates for any new development.
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