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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Investment properties
1607 Frankfort Ave Louisville, KY 40206-1717
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US34-0136275
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1802
Total area
5,586 SF
Lot
0.41 ac (17,864 SF)
Zoning code
R7-RESIDENTIAL MULTI-FAMI
APN
04020G00190000
UPID
US34-0136275
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
-
The Butcher Rose Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$910k
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$699k
Blend (final)
Blend
$1.00M
Owner & transaction history
Butcher Rose LLC · 5 yrs held
Butcher Rose LLC
since 2021
Last sale
$995,000
4 recorded transactions
Zoning & alternative use
R7-RESIDENTIAL MULTI-FAMI · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+191.5%
Auto repair, garage
$1.1M
+153.3%
Retail stores
$710,000
+68.3%
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
$995,000
ML approach
$910,000
CAP Approach
CAP Return
Estimation
6%
$1,105,000
6.5%
$1,020,000
7%
$950,000
Alternative Use
Use
Estimation
RESTAURANT
$1,230,000
Change: +192% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,070,000
Change: +153% · Conversion: Difficult
RETAIL STORES
$710,000
Change: +68% · Conversion: Easy
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10% · vs last sale $995k (Jul 9 2021)
Last sale anchor
$995k
Jul 9 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
$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
$13,353
Tax year 2023
Assessed value
$995,000
Assessed 2023
Previous assessed
$995,000
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$59,840
Assessed improvement
$935,160
Land market value
$59,840
Improvement market value
$935,160
Total market value
$995,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1802
Heating
YES
Cooling
YES
Stories
3
Rooms
7
Total area
5,586 SF
Lot
0.41 ac (17,864 SF)
Zoning code
R7-RESIDENTIAL MULTI-FAMI
APN
04020G00190000
UPID
US34-0136275
Jurisdiction
JEFFERSON
Zoning & alternative use
R7-RESIDENTIAL MULTI-FAMI · Louisville, KY
Zoning R7-RESIDENTIAL MULTI-FAMI · permitted uses
R7-RESIDENTIAL MULTI-FAMI · 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
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$710,000
RESTAURANT
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
1802
Heating
YES
Cooling
Yes
Stories
3
Rooms
7
Lot
0.41 ac
Current owner
From public records · entity-resolved
Butcher Rose LLC
Entity
Mailing address
5100 JB HUNT DR STE #840, ROGERS, AR 72758-6644
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2021
$995,000
Butcher Rose LLC
Morris Hoagland
Deed
$875,500 · Encore Bank NA
Jun 2, 2015
—
Hre LLC
—
Trustees Deed
related
$469,000 · River Vly Fin'l Bk
Mar 21, 2014
$280,000
Hre LLC
Segrest,james E
Warranty Deed
$368,000 · No Lender On Document
—
—
James E Segrest
—
Deed Of Trust
related
$220,000 · Republic Bank & Trust
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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