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Property profile & analytics
OFF-MARKET
Estimated value
$460,000
Office buildings
11601 Main St Middletown, KY 40243-1384
Entity Owned
6-yr Hold
Free & Clear
Property ID
US34-2368708
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Total area
3,762 SF
Lot
0.58 ac (25,452 SF)
Zoning code
C1-COMMERCIAL
APN
21002203010001
UPID
US34-2368708
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
$490k
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$637k
Blend (final)
Blend
$460k
Owner & transaction history
Head House LLC · 6 yrs held
Head House LLC
since 2020
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
C1-COMMERCIAL · Middletown, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$720,000
+55.8%
Retail stores
$480,000
+3.5%
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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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
$460,000
ML approach
$490,000
CAP Approach
CAP Return
Estimation
6%
$865,000
6.5%
$795,000
7%
$740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$460,000
Current use
AUTO REPAIR, GARAGE
$720,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$480,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$460k
Range $414k – $506k · ±10% · vs last sale $700k (Jul 23 2020)
Last sale anchor
$700k
Jul 23 2020
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
$122 / 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
$8,106
Tax year 2023
Assessed value
$700,000
Assessed 2023
Previous assessed
$700,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$254,500
Assessed improvement
$445,500
Land market value
$254,500
Improvement market value
$445,500
Total market value
$700,000
Applied tax rate
20.0000
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
1900
Heating
YES
Cooling
YES
Buildings
6
Stories
2
Total area
3,762 SF
Lot
0.58 ac (25,452 SF)
Zoning code
C1-COMMERCIAL
APN
21002203010001
UPID
US34-2368708
Jurisdiction
JEFFERSON
Zoning & alternative use
C1-COMMERCIAL · Middletown, KYZoning C1-COMMERCIAL · permitted uses
C1-COMMERCIAL · Middletown, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$460,000
AUTO REPAIR, GARAGE
Est. value
$720,000
RETAIL STORES
Est. value
$480,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1900
Heating
YES
Cooling
Yes
Stories
2
Buildings
6
Lot
0.58 ac
Current owner
From public records · entity-resolved
Head House LLC
Entity
Free & Clear · 6 yrs held
Mailing address
11601 MAIN ST, LOUISVILLE, KY 40243-1384
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2020
$700,000
Head House LLC
Chapman & Chapman LLC
Grant Deed
—
Apr 27, 2017
—
Chapman & Chapman LLC
—
Deed
related
$432,300 · Commonwealth Bk
—
—
Chapman & Chapman LLC
—
Deed Of Trust
related
$548,204 · King Southern Bank
—
—
Chapman & Chapman LLC
—
Deed Of Trust
related
$432,300 · Commonwealth Bk
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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