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Property profile & analytics
OFF-MARKET
Estimated value
$4,190,000
Warehouses
1731 Mellwood Ave Louisville, KY 40206
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US34-2384834
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1993
Total area
34,668 SF
Lot
1.36 ac (59,024 SF)
Zoning code
M2-INDUSTRIAL
APN
05020G00390000
UPID
US34-2384834
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
$3.82M
CAP Approach
CAP
$4.31M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.19M
Owner & transaction history
Prime Storage Mellwood Ave Lou · 6 yrs held
Prime Storage Mellwood Ave Lou
since 2020
Last sale
$4.3M
4 recorded transactions
Zoning & alternative use
M2-INDUSTRIAL · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.6M
+162.3%
Retail stores
$4.4M
+74.3%
Office building
$3.5M
+36.8%
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
$4,140,000
ML approach
$3,820,000
CAP Approach
CAP Return
Estimation
6%
$4,670,000
6.5%
$4,310,000
7%
$4,005,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,530,000
Current use
AUTO REPAIR, GARAGE
$6,640,000
Change: +162% · Conversion: Easy
RETAIL STORES
$4,410,000
Change: +74% · Conversion: Moderate
OFFICE BUILDING
$3,465,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,620,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$4.19M
Range $3.77M – $4.61M · ±10% · vs last sale $4.34M (Jan 3 2020)
Last sale anchor
$4.34M
Jan 3 2020
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
$121 / 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
$25,882
Tax year 2023
Assessed value
$1,928,620
Assessed 2023
Previous assessed
$1,928,620
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$406,530
Assessed improvement
$1,522,090
Land market value
$406,530
Improvement market value
$1,522,090
Total market value
$1,928,620
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1993
Heating
YES
Cooling
NONE
Stories
1
Total area
34,668 SF
Lot
1.36 ac (59,024 SF)
Zoning code
M2-INDUSTRIAL
APN
05020G00390000
UPID
US34-2384834
Jurisdiction
JEFFERSON
Zoning & alternative use
M2-INDUSTRIAL · Louisville, KY
Zoning M2-INDUSTRIAL · permitted uses
M2-INDUSTRIAL · 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
WAREHOUSE, STORAGE Current
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$6.6M
RETAIL STORES
Est. value
$4.4M
OFFICE BUILDING
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$2.6M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1993
Heating
YES
Cooling
Yes
Stories
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
Prime Storage Mellwood Ave Lou
Individual
Mailing address
85 RAILROAD PL, SARATOGA SPRINGS, NY 12866-2124
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2020
$4,335,562
Prime Storage Mellwood Ave Lou
City Space Mellwood LLC
Grant Deed
$12,500,000 · Rialto Mtg Fin
Jun 22, 2017
—
City Space Mellwood LLC
—
Deed
related
$750,000 · Commonwealth Bk
Sep 25, 2014
$1,558,500
City Space Mellwood LLC
Stiglitz D E & J N Trust +
Warranty Deed
$1,610,000 · Commonwealth Bk
—
—
City Space Mellwood LLC
—
Deed Of Trust
related
$750,000 · Commonwealth 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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