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Property profile & analytics
FOR LEASE
Retail space
209 East Main St Louisville, KY 40202
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US34-0379492
For Lease
1 / 2
$21 SF/Yr
209 East Main St, Louisville, KY 40202
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1908
Total area
47,662 SF
Lot
0.46 ac (20,247 SF)
Zoning code
(C3)CENTRAL BUSINESS OVER
APN
04018B00040000
UPID
US34-0379492
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
-
Brooksource - Louisville Employment Agency
-
Makespace! Marketing & Advertising Advertising Agency
-
Calculated Hire - Louisville Employment Agency
-
The Louisville Thoroughbred Society Community Center
-
Medasource - Louisville Business Management Consultant Business Development Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.54M
Blend (final)
Blend
$4.21M
Owner & transaction history
Fetzer Lofts LLC · 10 yrs held
Fetzer Lofts LLC
since 2016
7 recorded transactions
Zoning & alternative use
(C3)CENTRAL BUSINESS OVER · Louisville, KY
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 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
RETAIL STORES
$6,065,000
Current use
OFFICE BUILDING
$4,895,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$4.21M
Range $3.78M – $4.63M · ±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
$88 / 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
$71,255
Tax year 2023
Assessed value
$5,000,000
Assessed 2023
Previous assessed
$3,685,570
+35.7% YoY
Effective rate
1.43%
On assessed value
Assessed land
$650,000
Assessed improvement
$4,350,000
Land market value
$650,000
Improvement market value
$4,350,000
Total market value
$5,000,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1908
Heating
YES
Cooling
NONE
Stories
5
Total area
47,662 SF
Lot
0.46 ac (20,247 SF)
Zoning code
(C3)CENTRAL BUSINESS OVER
APN
04018B00040000
UPID
US34-0379492
Jurisdiction
JEFFERSON
Zoning & alternative use
(C3)CENTRAL BUSINESS OVER · Louisville, KY
Zoning (C3)CENTRAL BUSINESS OVER · permitted uses
(C3)CENTRAL BUSINESS OVER · 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
RETAIL STORES Current
Est. value
$6.1M
OFFICE BUILDING
Est. value
$4.9M
RETAIL STORES Current
OFFICE BUILDING
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
1908
Heating
YES
Cooling
Yes
Stories
5
Lot
0.46 ac
Current owner
From public records · entity-resolved
Fetzer Lofts LLC
Entity
Mailing address
2800 CONSTANT COMMENT PL, LOUISVILLE, KY 40299-6355
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2022
—
Hughes Lofts LLC
—
Deed
related
$9,967,500 · Evansville Teachers FCU
Mar 23, 2021
—
Hughes Lofts LLC
—
Deed
related
$5,000 · Metropolitan Business Development Corp
Sep 16, 2020
—
Hughes Lofts LLC
—
Deed
related
$200,000 · Business Dev
Apr 30, 2020
—
Hughes Lofts LLC
—
Deed
related
$200,000 · Business Dev
Jan 9, 2018
—
Hughes Lofts LLC
—
Deed
related
$200,000 · Business Dev
Apr 11, 2016
$2,561,000
Fetzer Lofts LLC
Fetzer Refrigerator Co
Grant Deed
related
$1,664,650 · Mainsource Bk
—
—
Hughes Lofts LLC
—
Loan Modification
related
$200,000 · Business Dev
—
—
Hughes Lofts LLC
—
Deed Of Trust
related
$200,000 · Business Dev
—
—
Hughes Lofts LLC
—
Loan Modification
related
$200,000 · Business Dev
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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