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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Investment properties
1707 3rd St Louisville, KY 40208-1917
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US34-0016521
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1904
Total area
5,536 SF
Lot
0.28 ac (11,979 SF)
Zoning code
TNZD-TRADITIONAL NEIGHBOR
APN
12033E00780000
UPID
US34-0016521
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
-
Columbine Bed & Breakfast Bed & Breakfast Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$693k
Blend (final)
Blend
$640k
Owner & transaction history
Richard S May · 5 yrs held
Richard S May
since 2020
7 recorded transactions
Zoning & alternative use
TNZD-TRADITIONAL NEIGHBOR · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+153.3%
Retail stores
$705,000
+68.3%
Office building
$645,000
+54.0%
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
COMMERCIAL (GENERAL)
$420,000
Current use
AUTO REPAIR, GARAGE
$1,060,000
Change: +153% · Conversion: Difficult
RETAIL STORES
$705,000
Change: +68% · Conversion: Easy
OFFICE BUILDING
$645,000
Change: +54% · Conversion: Easy
WAREHOUSE, STORAGE
$405,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$116 / 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
$7,818
Tax year 2023
Assessed value
$582,540
Assessed 2023
Previous assessed
$570,860
+2.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$76,200
Assessed improvement
$506,340
Land market value
$76,200
Improvement market value
$506,340
Total market value
$582,540
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
1904
Heating
YES
Cooling
NONE
Stories
3
Total area
5,536 SF
Lot
0.28 ac (11,979 SF)
Zoning code
TNZD-TRADITIONAL NEIGHBOR
APN
12033E00780000
UPID
US34-0016521
Jurisdiction
JEFFERSON
Zoning & alternative use
TNZD-TRADITIONAL NEIGHBOR · Louisville, KYZoning TNZD-TRADITIONAL NEIGHBOR · permitted uses
TNZD-TRADITIONAL NEIGHBOR · Louisville, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$420,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$705,000
OFFICE BUILDING
Est. value
$645,000
WAREHOUSE, STORAGE
Est. value
$405,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1904
Heating
YES
Cooling
Yes
Stories
3
Lot
0.28 ac
Current owner
From public records · entity-resolved
Richard S May
Individual
Mailing address
1707 S 3RD ST, LOUISVILLE, KY 40208-1917
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Sep 15, 2020
—
Richard S May
—
Deed
related
$464,000 · Truist Bk
Aug 17, 2018
—
Richard S May
—
Deed
related
$394,000 · Branch Bk&tr
—
—
Robert S|may Richard S Goldstein
—
Deed Of Trust
related
$200,000 · Branch Bk&tr
—
—
Richard S May
—
Deed Of Trust
related
$320,000 · First Residential Mtg Network
—
—
Richard S May
—
Deed Of Trust
related
$100,000 · National City Bank
—
—
Richard S May JR.
—
Deed Of Trust
related
$274,000 · Wells Fargo Bank
—
—
Richard S May
—
Deed Of Trust
related
$394,000 · Branch Bk&tr
—
—
Richard S May
—
Deed Of Trust
related
$464,000 · Truist Bk
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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