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    Property profile & analytics

    1900 Garrs Ln Shively, KY 40216

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2391959
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1900 Garrs Ln

    Property type
    Commercial real estate

    Description

    Hillview Manor, a lucrative multifamily investment opportunity, presents 58 apartment units spread across five buildings situated at 1900 Garrs Ln, Louisville, KY 40216, in Jefferson County. This established apartment complex boasts 54 one-bedroom and 34 two-bedroom units, offering a diverse range of housing options. Its prime location near the expressway and Dixie Highway ensures high occupancy rates due to convenient access to major transportation routes and amenities. The property's strong rental demand is evidenced by its consistently low vacancy rates. The asking price for this well-maintained complex is $7,390,000. This represents a significant investment opportunity in a thriving Kentucky market. The property's strategic location and proven track record of high occupancy make it an attractive prospect for investors seeking a stable and profitable addition to their portfolio. Further details regarding the financial performance and operational aspects of Hillview Manor are available upon request. This is a turnkey operation ready for immediate income generation. The property is well-maintained and presents a solid foundation for continued success. Serious inquiries only.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Shively
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.8124546
    Latitude
    38.1893138

    Comparable in this City

    • $349,900
      3,448 SF

      Renovated Home Plus Quadplex

      Unique investment: renovated home plus quadplex on large lot.
      1731 Meyers Ln, Louisville, KY 40216
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    • $355,000
      1,824 SF

      Charming Duplex Near Riverfront Views

      Spacious duplex with garage, basement, and riverfront proximity.
      4534 Lake Dreamland Dr, Louisville, KY 40216
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    • $140,000
      0.30 Acres

      Louisville Multi-Family Land

      Prime .295-acre development site, OR-2 zoning.
      5350 Dixie Hwy, Louisville, KY 40216
      View Details
    • $300,000
      0.48 Acres

      High-Visibility Commercial Land

      Louisville, KY - Prime Commercial Lot
      4924 Cane Run Rd, Louisville, KY 40216
      View Details
    • $1,700,000
      1.70 Acres

      Dixie Hwy Retail Land - Louisville, KY

      1.7-Acre Commercial Lot, High Traffic
      4627 Dixie Hwy, Louisville, KY 40216
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    • $860,000
      35 SF

      Residential Redevelopment Opportunity in Louisville

      35 acres of land suitable for residential development.
      5127 R Land Cross Dr, Louisville, KY 40216
      View Details

    Similar Nearby for Sale

    • $349,900
      3,448 SF

      Renovated Home Plus Quadplex

      Unique investment: renovated home plus quadplex on large lot.
      1731 Meyers Ln, Louisville, KY 40216
      View Details
    • $355,000
      1,824 SF

      Charming Duplex Near Riverfront Views

      Spacious duplex with garage, basement, and riverfront proximity.
      4534 Lake Dreamland Dr, Louisville, KY 40216
      View Details
    • $140,000
      0.30 Acres

      Louisville Multi-Family Land

      Prime .295-acre development site, OR-2 zoning.
      5350 Dixie Hwy, Louisville, KY 40216
      View Details
    • $300,000
      0.48 Acres

      High-Visibility Commercial Land

      Louisville, KY - Prime Commercial Lot
      4924 Cane Run Rd, Louisville, KY 40216
      View Details
    • $1,700,000
      1.70 Acres

      Dixie Hwy Retail Land - Louisville, KY

      1.7-Acre Commercial Lot, High Traffic
      4627 Dixie Hwy, Louisville, KY 40216
      View Details
    • $860,000
      35 SF

      Residential Redevelopment Opportunity in Louisville

      35 acres of land suitable for residential development.
      5127 R Land Cross Dr, Louisville, KY 40216
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      253,000 SF

      Louisville Industrial Land Opportunity

      Prime 12-acre site, ideal for industrial development.
      6001 Camp Ground Rd, Louisville, KY 40216
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    • Contact for pricing
      5,225 SF

      Louisville Retail Building - Gagel Ave

      5,225 SF Freestanding Retail Space in Louisville, KY
      1715 Gagel Ave, Louisville, KY 40216
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    • Contact for pricing
      15,160 SF

      Retail Spaces Available For Lease

      Multiple in-line retail spaces available for lease.
      4420 Dixie Hwy, Louisville, KY 40216
      View Details
    • $6 SF/Yr

      Industrial Buildings on 4.49 Acres

      Industrial buildings totaling 41,001 SF on 4.49 acres.
      1508 Crums Ln #Bldg., Louisville, KY 40216
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    • $14 SF/Yr
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      Dixie Hwy Medical/Creative Office

      1,680 SF, High-Traffic Location, Ample Parking
      4734 Dixie Hwy, Louisville, KY 40216
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    • $12,720,000

      Modern Louisville Office Building

      Pristine 40,850 SF office building in Louisville, Kentucky.
      5012 Camp Ground Rd, Louisville, KY 40216
      View Details

    Property Visit Statistics

    • Visits by month
      7.3k
    • Visitors by month
      3.8k
    • Avg Time on site
      403 min
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    1900 Garrs Ln
    Shively, KY 40216
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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