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Property profile & analytics
OFF-MARKET
Estimated value
$1,575,000
Warehouses
1338 Shelby St Louisville, KY 40217-1105
Entity Owned
~
Est. High Equity
Property ID
US34-0359618
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Total area
21,960 SF
Lot
1.29 ac (56,192 SF)
Zoning code
EZ1-ENTERPRISE ZONE
APN
09023G00380000
UPID
US34-0359618
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
Current use
Occupant on record · Public records
-
Bailey Safety Inc. Occupational Safety And Health Training Centre
-
Total Tool Supply - Louisville (Bike/Boat/Book/etc) Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$1.58M
Owner & transaction history
Rsb LLC
Rsb LLC
since 2025
7 recorded transactions
Zoning & alternative use
EZ1-ENTERPRISE ZONE · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.6M
+59.5%
Commercial (general)
$1.7M
+3.6%
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 Louisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Louisville 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,605,000
Current use
OFFICE BUILDING
$2,560,000
Change: +60% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,660,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.58M
Range $1.42M – $1.73M · ±10%
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
$72 / 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
$20,340
Tax year 2023
Assessed value
$1,515,640
Assessed 2023
Previous assessed
$1,515,640
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$192,840
Assessed improvement
$1,322,800
Land market value
$192,840
Improvement market value
$1,322,800
Total market value
$1,515,640
Applied tax rate
23.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Heating
YES
Cooling
NONE
Stories
1
Total area
21,960 SF
Lot
1.29 ac (56,192 SF)
Zoning code
EZ1-ENTERPRISE ZONE
APN
09023G00380000
UPID
US34-0359618
Jurisdiction
JEFFERSON
Zoning & alternative use
EZ1-ENTERPRISE ZONE · Louisville, KY
Zoning EZ1-ENTERPRISE ZONE · permitted uses
EZ1-ENTERPRISE ZONE · Louisville, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Louisville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.6M
OFFICE BUILDING
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$1.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2003
Heating
YES
Cooling
Yes
Stories
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Rsb LLC
Entity
Mailing address
1338 S SHELBY ST, LOUISVILLE, KY 40217-1105
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2025
—
Rsb LLC
—
Deed
related
$150,000 · Stock Yards Bank & Trust Co
Dec 17, 2020
—
Rsb LLC
—
Deed
related
$1,260,000 · Stockyard Bk&tr
Oct 18, 2018
—
Rsb LLC
—
Deed
related
$653,000 · Stockyard Bk&tr
Oct 22, 2010
—
Rsb LLC
—
Trustees Deed
related
$950,000 · Branch Banking & Trust Co
—
—
Rsb LLC
—
Deed Of Trust
related
$831,156 · Branch Banking & Trust Co
—
—
Rsb LLC
—
Deed Of Trust
related
$653,000 · Stock Yards Bank
—
—
Rsb LLC
—
Loan Modification
related
$653,000 · Stockyard Bk&tr
—
—
Rsb LLC
—
Deed Of Trust
related
$1,260,000 · Stockyard Bk&tr
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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