Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10541 Ichabod Dr Louisville, KY 40291

    • Commercial real estate
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    Sep 03, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0191194
    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 10541 Ichabod Dr

    Year built
    1999
    Lot size
    0.98 lot acres
    Zone code
    C1-COMMERCIAL
    Property type
    Commercial real estate
    APN
    23064702610000
    APU
    23064702610000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.5798
    Latitude
    38.1315
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,827
    $240,000
    $10
    $240,010
    -
    $240,000
    $10
    $240,010

    Comparable in this City

    • Value Estimation by Request
      4.18 Acres

      5926 Watterson Trl

      Land • 4.18 Acres
      5926 Watterson Trl, Louisville, KY 40291
      View Details
    • Value Estimation by Request
      14.45 Acres

      7000 Ridge Creek Rd

      Multifamily properties • 1 SF
      7000 Ridge Creek Rd, Louisville, KY 40291
      View Details
    • Value Estimation
      $1,645,000
      26,274 SF

      8911 Smith Ln, Unit 120

      COMMERCIAL (GENERAL) • 26,274 SF
      8911 Smith Ln, Louisville, KY 40291-2925
      View Details
    • Value Estimation
      $1,680,000
      6,150 SF

      9222 Storage Way

      SHOW ROOM, WAREHOUSE • 6,150 SF
      9222 Storage Way, Louisville, KY 40291-4825
      View Details
    • Value Estimation by Request
      21.05 Acres

      11407 Bardstown Creek Rd

      Land • 21.05 Acres
      11407 Bardstown Creek Rd, Louisville, KY 40291
      View Details
    • Value Estimation by Request
      6,405,035 SF

      7106 Adeno Way

      COMMERCIAL (GENERAL) • 6,405,035 SF
      7106 Adeno Way, Louisville, KY 40291-2877
      View Details

    Similar Nearby for Sale

    • $1,747,000
      4.18 Acres

      Hurstbourne Parkway Commercial Land

      Prime Louisville location, high traffic, development potential.
      5926 Watterson Trl, Louisville, KY 40291
      View Details
    • $2,321,250
      6.19 Acres

      South Hurstbourne Commercial Land

      6.19 Acres, Prime Louisville Location
      5911 Watterson Trl, Louisville, KY 40291
      View Details
    • Contact for pricing
      1.70 Acres

      Hurstbourne Parkway Commercial Land

      Prime Louisville land, high traffic, multi-use zoning.
      6700 Hurstbourne Pkwy, Louisville, KY 40291
      View Details
    • $1,750,000
      6.09 Acres

      Louisville Commercial Land - 6 Acres

      Prime Louisville development land, retail/multifamily potential.
      8102 Beulah Church Rd, Louisville, KY 40291
      View Details
    • $3,474,000
      4,000 SF

      Bank of America Louisville, KY

      Prime Retail Investment: NNN Lease, High NOI
      10415 Southpointe Blvd, Louisville, KY 40291
      View Details
    • Contact for pricing

      Hurstbourne Parkway Frontage Land

      18.25 acres on Hurstbourne Parkway in booming Fern Creek.
      6700 S Hurstbourne Pkwy, Louisville, KY 40291
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,635 SF

      Piccadilly Square Retail Opportunity

      Louisville Retail Space: Redevelopment Project
      5300 Bardstown Rd, Louisville, KY 40291
      View Details
    • Contact for pricing
      6,077 SF

      Bardstown Road Retail Space For Lease

      High-traffic retail space, flexible layouts.
      7931 Bardstown Rd, Louisville, KY 40291
      View Details
    • $25 SF/Yr
      41,803 SF

      Glenmary Plaza Retail Center

      High-traffic retail space available.
      8133 Bardstown Rd, Louisville, KY 40291
      View Details
    • $24 SF/Yr
      1,600 SF

      Prime Louisville Retail Space

      1600 SF Retail Space, Available Soon
      9314 Cedar Center Way, Louisville, KY 40291
      View Details
    • Contact for pricing
      18,252 SF

      Retail Space on Bardstown Road

      Retail property with high traffic count available for lease.
      5300-5404 Bardstown Rd, Louisville, KY 40291
      View Details
    • $21 SF/Yr
      4,980 SF

      Prime Commercial Space in Fern Creek

      4980 sqft C1 zoned space available December 2025.
      5700 Bardstown Rd, Louisville, KY 40291
      View Details

    Property Visit Statistics

    • Visits by month
      31.4k
    • Visitors by month
      22.1k
    • Avg Time on site
      76 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10541 Ichabod Dr
    Louisville, KY 40291
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.