The land at the corner of the Bluegrass Parkway and Troy Pike could be the site of a new Walmart Supercenter by the end of the year.
A representative of the current land owner said Walmart is currently studying the area for a possible new store.
If all goes well, he said the land purchase could be finalized by this summer or fall, with construction starting just days after.
Small business owners are concerned the new store will hurt their sales, with more people buying items at Walmart.
The owner of Sweeties' Bakery, Jennifer King, isn't worried about another bakery at Walmart.
She said her downtown bakery is already thriving, even though she has already been competing with the bakery inside Kroger.
Many specialty stores downtown offer services and products that Walmart won't have.
Others say there are already plenty of Walmarts in the surrounding cities of Frankfort, Lexington, and Lawrenceburg.
Other families can't wait for what they said will be better selection, lower prices, and a faster drive to the store.