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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Manufacturing properties
1651 Wathen Ln, Shively, KY 40216-5131
Entity Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US34-0043051
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1944
Total area
8,037 SF
Lot
21.91 ac (954,225 SF)
Zoning code
EZ1-ENTERPRISE ZONE
APN
24100501820000
UPID
US34-0043051
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
$500k
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$610k
Blend (final)
Blend
$620k
Owner & transaction history
Parallel Products Of Kentucky INC · 17 yrs held
Parallel Products Of Kentucky INC
since 2008
1 recorded transaction
Zoning & alternative use
EZ1-ENTERPRISE ZONE · Shively, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$935,000
+126.0%
Retail stores
$685,000
+64.9%
Commercial (general)
$610,000
+46.7%
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 Shively submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shively 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
$500,000
CAP Approach
CAP Return
Estimation
6%
$810,000
6.5%
$745,000
7%
$695,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$415,000
Current use
OFFICE BUILDING
$935,000
Change: +126% · Conversion: Difficult
RETAIL STORES
$685,000
Change: +65% · Conversion: Moderate
COMMERCIAL (GENERAL)
$610,000
Change: +47% · Conversion: Difficult
WAREHOUSE, STORAGE
$585,000
Change: +42% · Conversion: Easy
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$77 / 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
$22,062
Tax year 2023
Assessed value
$2,210,620
Assessed 2023
Previous assessed
$2,180,860
+1.4% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,225,220
Assessed improvement
$985,400
Land market value
$1,225,220
Improvement market value
$985,400
Total market value
$2,210,620
Applied tax rate
24.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1944
Heating
YES
Cooling
NONE
Buildings
16
Stories
1
Total area
8,037 SF
Lot
21.91 ac (954,225 SF)
Zoning code
EZ1-ENTERPRISE ZONE
APN
24100501820000
UPID
US34-0043051
Jurisdiction
JEFFERSON
Zoning & alternative use
EZ1-ENTERPRISE ZONE · Shively, KY
Zoning EZ1-ENTERPRISE ZONE · permitted uses
EZ1-ENTERPRISE ZONE · Shively, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shively. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$415,000
OFFICE BUILDING
Est. value
$935,000
RETAIL STORES
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$610,000
WAREHOUSE, STORAGE
Est. value
$585,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1944
Heating
YES
Cooling
Yes
Stories
1
Buildings
16
Lot
21.91 ac
Current owner
From public records · entity-resolved
Parallel Products Of Kentucky INC
Entity
Mailing address
401 INDUSTRY RD STE #100, LOUISVILLE, KY 40208-1674
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2008
—
Parallel Products Of Kentucky INC
—
Deed Of Trust
related
$9,500,000 · First Business Capital Corp
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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