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Property profile & analytics
FOR LEASE
Office buildings
11909 Shelbyville Rd Middletown, KY 40223
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US34-0270196
For Lease
1 / 21
$2,240,000
11909 Shelbyville Rd, Middletown, KY 40223
View Listing →
Property summary
AI-generated overview
This exceptional Class A office space, totaling 5,757 square feet, is ideally situated in Middletown's thriving commercial district at 11909 Shelbyville Rd. The property boasts convenient access to I-265, ensuring effortless commutes for employees and clients. Built in 1999, this single-tenant, two-story building offers a total of 13,040 square feet, with ample surface parking readily available. The interior features an adaptable open floor plan, complemented by glass office doors and a convenient kitchenette. This layout provides the flexibility to create a customized workspace tailored to your specific business needs. The space is divisible, offering options for businesses of varying sizes. The building is zoned C-1 - Commercial District, and its Jefferson County APN is 031900430000. Elevators are available for convenient access to both floors. This prime location and versatile space present a unique opportunity to establish a thriving business presence in a highly desirable area. Don't miss this chance to secure this exceptional office space.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
24,968 SF
Lot
1.61 ac (70,132 SF)
Zoning code
C1-COMMERCIAL
APN
21031900430000
UPID
US34-0270196
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
$1.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.32M
Blend (final)
Blend
$2.24M
Owner & transaction history
Dwb Investments LLC · 4 yrs held
Dwb Investments LLC
since 2021
Last sale
$2.2M
3 recorded transactions
Zoning & alternative use
C1-COMMERCIAL · Middletown, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.2M
+4.2%
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
$1,460,000
ML approach
$1,715,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,070,000
Current use
RETAIL STORES
$3,200,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±10% · vs last sale $2.20M (Sep 24 2021)
Last sale anchor
$2.20M
Sep 24 2021
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
$90 / 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
$25,476
Tax year 2023
Assessed value
$2,200,000
Assessed 2023
Previous assessed
$2,200,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$320,000
Assessed improvement
$1,880,000
Land market value
$320,000
Improvement market value
$1,880,000
Total market value
$2,200,000
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
For Lease
Year built
1999
Heating
YES
Cooling
NONE
Stories
2
Total area
24,968 SF
Lot
1.61 ac (70,132 SF)
Zoning code
C1-COMMERCIAL
APN
21031900430000
UPID
US34-0270196
Jurisdiction
JEFFERSON
Zoning & alternative use
C1-COMMERCIAL · Middletown, KY
Zoning 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
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.1M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING Current
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
1999
Heating
YES
Cooling
Yes
Stories
2
Lot
1.61 ac
Current owner
From public records · entity-resolved
Dwb Investments LLC
Entity
Mailing address
3408 BURKLAND BLVD, SHEPHERDSVILLE, KY 40165-6910
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2021
—
Dwb Investments LLC
Residual Pumpkin Entity LLC
Special Warranty Deed
$1,500,000 · Forcht Bank NA
Jan 4, 2016
$1,650,000
Cafepress INC
Hameron Properties I LLC
Grant Deed
—
—
—
Hameron Properties I LLC
—
Deed Of Trust
related
$1,875,000 · Amy K Hamm
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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