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Property profile & analytics
OFF-MARKET
Estimated value
$2,010,000
Office buildings
222 1st St Louisville, KY 40202-5404
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US34-0406848
Property summary
AI-generated overview
This six-story, 65,000-square-foot Class B office building at 222 S 1st St, Louisville, KY 40202, offers a unique opportunity for businesses seeking executive or medical office space. The building features a beautifully renovated Euro-chic atrium/lobby and boasts multiple tenancy options, with spaces ranging from a minimum of 330 square feet to a maximum contiguous space of 4,709 square feet
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1922
Total area
64,398 SF
Lot
0.39 ac (16,971 SF)
APN
04017A02900000
UPID
US34-0406848
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cosmetic Hair Replacement Center Hair Salon
-
Mann John L Real Estate Agency
-
Morris Gary Real Estate Agency
-
Unistar Purchasing Solutions Business To Business Service
-
Conex Us World LLC Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.72M
Blend (final)
Blend
$2.01M
Owner & transaction history
222 Developmentllc · 9 yrs held
222 Developmentllc
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Louisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Louisville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.01M
Range $1.81M – $2.21M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$31 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$46,804
Tax year 2023
Assessed value
$3,284,230
Assessed 2023
Previous assessed
$2,976,840
+10.3% YoY
Effective rate
1.43%
On assessed value
Assessed land
$877,250
Assessed improvement
$2,406,980
Land market value
$877,250
Improvement market value
$2,406,980
Total market value
$3,284,230
Applied tax rate
23.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1922
Heating
YES
Cooling
NONE
Stories
6
Total area
64,398 SF
Lot
0.39 ac (16,971 SF)
APN
04017A02900000
UPID
US34-0406848
Jurisdiction
JEFFERSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1922
Heating
YES
Cooling
Yes
Stories
6
Lot
0.39 ac
Current owner
From public records · entity-resolved
222 Developmentllc
Individual
Mailing address
12451 PLANTSIDE DR, LOUISVILLE, KY 40299-6382
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2017
—
222 Developmentllc
—
Deed
related
$3,800,000 · Century Bk/ky
—
—
222 Dev LLC
—
Deed Of Trust
related
$300,000 · Republic Bk&tr
—
—
222 Developmentllc
—
Deed Of Trust
related
$3,800,000 · Century Bk/ky
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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