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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11840 Commonwealth Dr Jeffersontown, KY 40299-2309

    • Office buildings
    • 7,780 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $1,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2381633
    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

    • Office buildings

    Property Details for 11840 Commonwealth Dr

    Year built
    1995
    Lot size
    1.00 lot acres
    Property size
    7,780 SF
    Zone code
    PEC-PLANNED EMPLOYMENT CE
    Property type
    Office buildings
    APN
    22218700100000
    APU
    22218700100000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,635,000
      6.5%
      $1,510,000
      7%
      $1,400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $799,000
      Market price range: $630k - $1.02M
      AI Estimate
      $1,088,000
      Market price range: $507k - $1.60M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $825,000
      Current use
      RESTAURANT
      $1,715,000
      Change: +108% Conversion: Moderate
      RETAIL STORES
      $1,675,000
      Change: +103% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,490,000
      Change: +81% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $735,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jeffersontown
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.537
    Latitude
    38.2141
    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
    $9,071
    $283,260
    $493,390
    $776,650
    -
    $283,260
    $493,390
    $776,650

    Comparable in this City

    • Value Estimation by Request
      4.80 Acres

      11405 Bluegrass Pkwy

      OFFICE BUILDING • 4.80 Acres
      11405 Bluegrass Pkwy, Jeffersontown, KY 40299-2349
      View Details
    • Value Estimation by Request
      2.50 Acres

      1625 Business Ctr Ct

      OFFICE BUILDING • 2.50 Acres
      1625 Business Ctr Ct, Jeffersontown, KY 40299
      View Details
    • Value Estimation by Request
      3.30 Acres

      12501 Plantside Dr

      OFFICE BUILDING • 3.30 Acres
      12501 Plantside Dr, Louisville, KY 40299-6384
      View Details
    • Value Estimation by Request
      2.13 Acres

      12451 Plantside Dr

      OFFICE BUILDING • 2.13 Acres
      12451 Plantside Dr, Louisville, KY 40299-6382
      View Details
    • Value Estimation by Request
      1,728 SF

      9315 Taylorsville Rd

      OFFICE BUILDING • 1,728 SF
      9315 Taylorsville Rd, Jeffersontown, KY 40299-1737
      View Details
    • Value Estimation
      $1,300,000
      13,238 SF

      2517 Plantside Dr

      OFFICE BUILDING • 13,238 SF
      2517 Plantside Dr, Jeffersontown, KY 40299-2529
      View Details

    Similar Nearby for Sale

    • $1,852,305
      9,499 SF

      Office/Warehouse Space in Bluegrass Park

      Class B office and warehouse space for sale or lease.
      11530 Electron Dr, Jeffersontown, KY 40299
      View Details
    • Contact for pricing

      Office Space on Watterson Trail

      Office property available on Watterson Trail in Louisville, KY.
      2013 Watterson Trl, Louisville, KY 40299
      View Details
    • $2,999,000
      50,586 SF

      Louisville Event Facility: 24 Acres

      Versatile 50,586 sq ft event space, ideal for diverse uses.
      2612 English Station Rd, Louisville, KY 40299
      View Details
    • Contact for pricing
      0.65 Acres

      Jtown Mixed-Use Commercial Land

      Prime Louisville location, build-to-suit opportunity.
      3301 College Dr, Louisville, KY 40299
      View Details
    • $92,500
      0.43 Acres

      Residential Land in Louisville, KY

      Building lot in sought after Southern Breeze neighborhood.
      51 Ca, Louisville, KY 40299
      View Details
    • $1,566,680

      Hurstbourne Parkway Frontage Land Parcel

      Land parcel with frontage on Hurstbourne Parkway in Fern Creek.
      5910 S Watterson Trl, Louisville, KY 40299
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      2,264 SF

      Jeffersontown Executive Office Space

      Prime KY location, 2264 sq ft, high visibility.
      1913 Blankenbaker Pkwy, Jeffersontown, KY 40299
      View Details
    • $12 SF/Yr
      3,712 SF

      Bluegrass Industrial Park Offices

      Prime Office Space, Flexible Sizes, CAM Included
      2540 Ridgemar Ct, Louisville, KY 40299
      View Details
    • Contact for pricing
      70,417 SF

      Prime Louisville Executive Office Space

      Modern Office Suites, 4,928 - 7,964 SF Available
      9920 Corporate Campus Dr, Louisville, KY 40299
      View Details
    • $11 SF/Yr
      12,481 SF

      Prime Louisville Retail Space

      12,481 SF Retail Building, Kentucky
      2800 Diode Ln, Louisville, KY 40299
      View Details
    • Contact for pricing
      123,750 SF

      Jeffersontown Warehouse with Expansion Potential

      Expandable warehouse space featuring dock doors, drive-in doors, and LED lighting.
      2200 Ampere Dr, Jeffersontown, KY 40299
      View Details
    • $7 SF/Yr
      182,268 SF

      Quantum Business Centre: Flex Space Available

      Jefferson County Industrial Space; 1,200-4,292 SF Units
      10300 Bluegrass Pkwy, Louisville, KY 40299
      View Details
    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.
    11840 Commonwealth Dr
    Jeffersontown, KY 40299-2309
    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.