St. Matthews is a home rule city in north-central Jefferson County, about seven miles east of downtown Louisville, and it is one of Kentucky's best-known shopping areas. Shelbyville Road (U.S. 60) is its main commercial corridor, and Interstate 264 forms much of its southern and eastern boundary. The city incorporated in 1950 and became part of Louisville Metro government while staying a separate city. Winner Realty helps owners, investors and operators buy, sell and lease commercial property in St. Matthews, KY, and this page explains how the market is laid out and what to check before you make a move.

Where commercial property is in St. Matthews

Retail concentrates on Shelbyville Road, which is lined with shopping centers. Mall St. Matthews, the first indoor mall in Louisville, anchors the retail side of the city. Current listings show a mix of office buildings and suites, strip and freestanding retail, and a few apartment buildings offered for sale, on and around Shelbyville Road, Breckenridge Lane, Chenoweth Lane, Bowling Boulevard, Grandview Avenue and St. Matthews Avenue.

The city's modern shopping district began to take shape in the 1920s, and the Vogue Theater opened in 1938. Older storefront blocks and newer centers sit side by side, which means building age and condition vary a lot from one address to the next. For the county-wide view, see our Louisville commercial real estate overview.

What drives demand here

Retail and office demand in St. Matthews follows the shopping corridor. Businesses that depend on drive-by traffic, repeat visits and a recognizable address look at Shelbyville Road first. Check current availability early, because the number of listings at any time can be small.

Interstate 264 is the second driver. It runs along much of the city's southern and eastern boundary and gives tenants a route to the rest of Louisville Metro. Office users such as professional firms and service companies tend to pick sites by access and visibility as much as by square footage.

Zoning and permits in St. Matthews

St. Matthews has its own Land Development Code, which Louisville Metro lists among the local rules for the 12 Jefferson County cities with their own zoning authority. The city runs a Planning and Design department and posts building permit information and business license and tax information on its website. A business operating in the city typically needs a city business license in addition to any permits for building work.

The city's code is built on the Louisville Metro district system, which includes commercial districts such as C-N (neighborhood commercial), C-1, C-2 and C-R (commercial/residential), office districts such as OR, OR-1 and OR-2, and industrial districts such as M-1. Which of these applies to a parcel, and what each allows, should be confirmed with the city before you sign a contract. Our due diligence checklist shows how to fold zoning confirmation into your inspection period.

Types of commercial property you will find

• Shopping centers and strip retail along Shelbyville Road.
• Freestanding retail and storefront buildings.
• Small and mid-size office buildings and shared or private office suites.
• Apartment buildings. Anything with two or more units is commercial real estate, so these are underwritten like other income properties.

Retail investors often compare single-tenant and multi-tenant deals using cap rates, which our cap rate guide explains. If a tenant pays property taxes, insurance and upkeep, read our guide to triple net lease investing.

Buying or selling a business that owns its building

Restaurants, salons, professional offices and independent retailers in St. Matthews sometimes own the building they operate in. A sale then involves both the company and the property, and the best structure depends on the buyer. Some buyers want only the building, some want the business with a lease, and some want both. Our page on buying or selling a business with real estate in Louisville lays out how those deals are put together. A free commercial property valuation can show what the real estate is worth on its own, and if you plan to buy a replacement property after a sale, see our 1031 exchange guide for Kentucky.

Working with Winner Realty in St. Matthews

Winner Realty is a Louisville brokerage led by owner-Realtor Rob Bergeron, who has handled Jefferson County deals since 2013. In a corridor market like St. Matthews we look at the lease terms, the age of the building and the zoning first, then work out financing, which you can read about in our Kentucky commercial loan guide. Nearby areas have their own pages, including Lyndon and Jeffersontown.

Frequently asked questions

What is the main commercial street in St. Matthews?

Shelbyville Road (U.S. 60). It is lined with shopping centers and carries most of the retail space in the city.

Does St. Matthews handle its own permits?

The city lists building permits and business licenses on its own website and has a Planning and Design department. Confirm which steps apply to your project with the city.

Are there small office spaces for lease in St. Matthews?

Current listings include office suites and buildings, as well as shared office space. Availability changes often, so ask for an updated search.

Is an apartment building commercial real estate here?

Yes. Any property with two or more units counts as commercial, so a duplex or larger building is financed and valued as a commercial property.

Want to talk about a St. Matthews property? Use the commercial inquiry form, or text or email Rob at (502) 305-8915 or Rob@thewinnerrealty.com. Winner Realty is licensed in Kentucky under KRS Chapter 324. This page is general information, not legal advice, so talk to an attorney about your specific deal.