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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Schools
109 Fairmeade Rd Saint Matthews, KY 40207-3904
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US34-0190465
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1953
Total area
2,700 SF
Lot
0.19 ac (8,059 SF)
Zoning code
C1-COMMERCIAL
APN
22053500260000
UPID
US34-0190465
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$660k
Owner & transaction history
Adh LLC · 4 yrs held
Adh LLC
since 2022
Last sale
$650,000
2 recorded transactions
Zoning & alternative use
C1-COMMERCIAL · Saint Matthews, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$590,000
+179.7%
Auto repair, garage
$515,000
+144.9%
Office building
$480,000
+128.3%
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 Saint Matthews submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Matthews 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
$695,000
ML approach
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$590,000
Change: +180% · Conversion: Difficult
AUTO REPAIR, GARAGE
$515,000
Change: +145% · Conversion: Difficult
OFFICE BUILDING
$480,000
Change: +128% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±10% · vs last sale $650k (Mar 30 2022)
Last sale anchor
$650k
Mar 30 2022
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
$244 / 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
$7,462
Tax year 2023
Assessed value
$650,000
Assessed 2023
Previous assessed
$405,000
+60.5% YoY
Effective rate
1.15%
On assessed value
Assessed land
$138,450
Assessed improvement
$511,550
Land market value
$138,450
Improvement market value
$511,550
Total market value
$650,000
Applied tax rate
26.0000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1953
Heating
YES
Cooling
NONE
Stories
1
Total area
2,700 SF
Lot
0.19 ac (8,059 SF)
Zoning code
C1-COMMERCIAL
APN
22053500260000
UPID
US34-0190465
Jurisdiction
JEFFERSON
Zoning & alternative use
C1-COMMERCIAL · Saint Matthews, KY
Zoning C1-COMMERCIAL · permitted uses
C1-COMMERCIAL · Saint Matthews, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saint Matthews. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$590,000
AUTO REPAIR, GARAGE
Est. value
$515,000
OFFICE BUILDING
Est. value
$480,000
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1953
Heating
YES
Cooling
Yes
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Adh LLC
Entity
Mailing address
9219 WALTLEE RD, LOUISVILLE, KY 40291-1015
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2023
—
Adh LLC
—
Deed
related
$55,000 · Stock Yards Bank & Trust Co
Mar 30, 2022
$650,000
Adh LLC
Kribs2kids LLC
Warranty Deed
$650,000 · Stock Yards Bank & Trust Co
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.
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