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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Retail space
1401 Lexington Rd Louisville, KY 40206-1928
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US34-2341777
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Total area
3,997 SF
Lot
0.55 ac (24,006 SF)
Zoning code
C1-COMMERCIAL
APN
05068L00190000
UPID
US34-2341777
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
-
DONGAR FOOD MART & DELI 534 Grocery & Convenience Store
-
Marathon Gas Gas Station
-
Bitcoin of America ATM Atm
-
ATM (Dongar Food Mart & Deli) Atm
-
Athena Bitcoin ATM Atm Crypto Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$710k
Comparable Approach
Comparable
$859k
Blend (final)
Blend
$715k
Owner & transaction history
Payne-lex Realty LLC · 7 yrs held
Payne-lex Realty LLC
since 2018
2 recorded transactions
Zoning & alternative use
C1-COMMERCIAL · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$765,000
+50.5%
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 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%
$770,000
6.5%
$710,000
7%
$660,000
Alternative Use
Use
Estimation
RETAIL STORES
$510,000
Current use
AUTO REPAIR, GARAGE
$765,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$179 / 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
$9,652
Tax year 2023
Assessed value
$719,210
Assessed 2023
Previous assessed
$719,210
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$116,010
Assessed improvement
$603,200
Land market value
$116,010
Improvement market value
$603,200
Total market value
$719,210
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
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Heating
YES
Cooling
NONE
Stories
1
Total area
3,997 SF
Lot
0.55 ac (24,006 SF)
Zoning code
C1-COMMERCIAL
APN
05068L00190000
UPID
US34-2341777
Jurisdiction
JEFFERSON
Zoning & alternative use
C1-COMMERCIAL · Louisville, KY
Zoning C1-COMMERCIAL · permitted uses
C1-COMMERCIAL · 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
RETAIL STORES Current
Est. value
$510,000
AUTO REPAIR, GARAGE
Est. value
$765,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
1960
Heating
YES
Cooling
Yes
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Payne-lex Realty LLC
Entity
Mailing address
3415 FERN VLY RD, LOUISVILLE, KY 40213-3529
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Aug 7, 2018
—
Payne-lex Realty LLC
Patel,dineshbhai & Kalavatiben
Warranty Deed
related
$330,067 · First Fin'l Bk&tr
Jul 13, 2005
$400,000
Lex-payne LLC
Baer-payne Investment
Grant Deed
related
$320,000 · First Capital Bank Ky
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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