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Property profile & analytics
OFF-MARKET
Retail space
2048 Merrick Dr Richmond, KY 40475-8133
Entity Owned
1-yr Hold
Free & Clear
Property ID
US34-1810095
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
5,041 SF
APN
0068-008A-0005
UPID
US34-1810095
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
-
Shell Gas Station
-
Derby Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
ATM Atm
-
ATM (Merrick Shell) Atm
-
Byte Federal Bitcoin ATM (Merrick Shell Food Mart) Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Caseys Marketing Company · 1 yrs held
Caseys Marketing Company
since 2024
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$14,550
Tax year 2023
Assessed value
$1,500,000
Assessed 2023
Previous assessed
$1,500,000
+0.0% YoY
Effective rate
0.97%
On assessed value
Total market value
$1,500,000
Applied tax rate
2.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Stories
1
Total area
5,041 SF
APN
0068-008A-0005
UPID
US34-1810095
Jurisdiction
MADISON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Stories
1
Current owner
From public records · entity-resolved
Caseys Marketing Company
Entity
Free & Clear · 1 yrs held
Mailing address
168 OVERLOOK TRL, RICHMOND, KY 40475-6510
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2024
$3,905,000
Caseys Marketing Company
Merrick Shell Food Mart INC
Deed
—
May 8, 2024
—
Merrick Shell Food Mart INC
—
Deed
related
$1,850,000 · 1st Trust Bank INC
Jun 19, 2017
—
Baldevbhai Chokshi
—
Deed
related
$350,000 · Central Bank & Trust Co
Apr 12, 2017
—
Merrick Shell Food Mark INC
—
Deed
related
$145,000 · 1st Trust Bank INC
Jun 8, 2016
—
Merrick Shell Food Mart INC
—
Deed
related
$164,569 · 1st Trust Bank INC
Jul 16, 2009
$1,050,000
Merrick Shell Food Mart INC
Cole Oil Company INC
Deed
$1,200,000 · Madison Bank
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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