Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1720 Richmond Dr Louisville, KY 40205-1474

    • Commercial real estate
    • 78,678 SF
    • 2.91 lot acres
    OFF-MARKET
    Value Estimations
    $6,550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0256347
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Highlands Court Apartments / Apartment Building

    Property Details for 1720 Richmond Dr

    Year built
    1984
    Lot size
    2.91 lot acres
    Property size
    78,678 SF
    Zone code
    OR2-OFFICE/RESIDENTIAL
    Property type
    Commercial real estate
    APN
    10076E00260000
    APU
    10076E00260000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,738,000
      Market price range: $3.42M - $9.84M
      AI Estimate
      $4,412,000
      Market price range: $1.57M - $6.78M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,950,000
      Current use
      RETAIL STORES
      $10,010,000
      Change: +68% Conversion: Easy
      OFFICE BUILDING
      $9,165,000
      Change: +54% Conversion: Easy
      WAREHOUSE, STORAGE
      $5,745,000
      Change: -3% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.7061
    Latitude
    38.2222
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $65,286
    $989,760
    $3,875,100
    $4,864,860
    -
    $989,760
    $3,875,100
    $4,864,860

    Comparable in this City

    • Value Estimation by Request
      1,898 SF

      1615 Bardstown Rd

      SHOW ROOM, WAREHOUSE • 1,898 SF
      1615 Bardstown Rd, Louisville, KY 40205-1209
      View Details
    • Value Estimation
      $840,000
      9,000 SF

      3551 Mulloy St

      SHOW ROOM, WAREHOUSE • 9,000 SF
      3551 Mulloy St, Louisville, KY 40205
      View Details
    • Value Estimation by Request
      0.63 Acres

      3000 Newburg Rd, Unit R

      COMMERCIAL (GENERAL) • 0.63 Acres
      3000 Newburg Rd, Louisville, KY 40205-2712
      View Details
    • Value Estimation
      $4,450,000
      43,530 SF

      3525 Ephraim Mcdowell Dr

      COMMERCIAL (GENERAL) • 43,530 SF
      3525 Ephraim Mcdowell Dr, Louisville, KY 40205-3287
      View Details
    • Value Estimation
      $1,800,000
      28,801 SF

      1600 Gardiner Ln100a

      COMMERCIAL (GENERAL) • 28,801 SF
      1600 Gardiner Ln100a, Louisville, KY 40205-2763
      View Details
    • Value Estimation
      $1,845,000
      29,473 SF

      1600 Gardiner Ln100b

      COMMERCIAL (GENERAL) • 29,473 SF
      1600 Gardiner Ln100b, Louisville, KY 40205-2763
      View Details

    Similar Nearby for Sale

    • $350,000

      Seneca Gardens Condo with Garage

      Three-bedroom condo in desirable Seneca Gardens neighborhood with garage.
      2325 Broadmeade Rd, Louisville, KY 40205
      View Details
    • $125,000

      Lakeview Condominium with Remodeled Bathroom

      First-floor condo with open floor plan and private patio.
      1935 Gardiner Ln, Louisville, KY 40205
      View Details
    • $239,500
      0.22 Acres

      Flat Lot in Highland Preserve

      Build your dream home in a sought-after Louisville location.
      3403 Highland Preserve Way, Louisville, KY 40205
      View Details
    • $600,000
      3,883 SF

      Historic Highlands Triplex Opportunity

      Charming triplex in Louisville's desirable Highlands/Parkside corridor.
      2073 Sherwood Ave, Louisville, KY 40205
      View Details
    • Contact for pricing
      115,530 SF

      Renovated Class A Office Building

      Sixteen-story Class A office building with recent renovations and 24/7 security.
      6100 Dutchmans Ln, Louisville, KY 40205
      View Details
    • $939,000
      4,446 SF

      Bardstown Road Retail Gem

      High-traffic location, versatile space.
      1610 Bardstown Rd, Louisville, KY 40205
      View Details

    Similar Nearby for Lease

    • $1,295 /Mo
      750 SF

      Updated Condo Near Cherokee Park

      Updated 2-bedroom condo near Cherokee Park with modern amenities.
      2214 Sherwood Ave, Louisville, KY 40205
      View Details
    • $18 SF/Yr
      115,530 SF

      Louisville Class A Office Space

      Prestigious East End Office Suites Available
      6100 Dutchmans Ln, Louisville, KY 40205
      View Details
    • $2,100 /Mo
      1,612 SF

      Highlands Office Space Available

      Second-floor office space in a prominent Highlands location.
      1500 Bardstown Rd, Louisville, KY 40205
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1720 Richmond Dr
    Louisville, KY 40205-1474
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.