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Property profile & analytics
OFF-MARKET
Estimated value
$1,425,000
Schools
221 Shelby St Louisville, KY 40202-1052
Entity Owned
17-yr Hold
Free & Clear
Property ID
US34-0217923
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1995
Total area
11,338 SF
Lot
0.59 ac (25,491 SF)
Zoning code
C2-COMMERCIAL
APN
04017E00080000
UPID
US34-0217923
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
-
MAC'S Childcare Daycare Center Foster Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.39M
Blend (final)
Blend
$1.43M
Owner & transaction history
Nulu Wayside LLC · 17 yrs held
Nulu Wayside LLC
since 2009
1 recorded transaction
Zoning & alternative use
C2-COMMERCIAL · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+144.9%
Retail stores
$1.4M
+62.7%
Office building
$1.2M
+31.4%
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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$885,000
Current use
AUTO REPAIR, GARAGE
$2,170,000
Change: +145% · Conversion: Difficult
RETAIL STORES
$1,445,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$1,165,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$855,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.43M
Range $1.28M – $1.57M · ±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
$126 / 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
$20,130
Tax year 2023
Assessed value
$1,500,000
Assessed 2023
Previous assessed
$1,500,000
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$386,690
Assessed improvement
$1,113,310
Land market value
$386,690
Improvement market value
$1,113,310
Total market value
$1,500,000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1995
Heating
YES
Cooling
YES
Stories
2
Total area
11,338 SF
Lot
0.59 ac (25,491 SF)
Zoning code
C2-COMMERCIAL
APN
04017E00080000
UPID
US34-0217923
Jurisdiction
JEFFERSON
Zoning & alternative use
C2-COMMERCIAL · Louisville, KY
Zoning C2-COMMERCIAL · permitted uses
C2-COMMERCIAL · 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$885,000
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$855,000
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE 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
1995
Heating
YES
Cooling
Yes
Stories
2
Lot
0.59 ac
Current owner
From public records · entity-resolved
Nulu Wayside LLC
Entity
Free & Clear · 17 yrs held
Mailing address
PO BOX 359, FAYETTEVILLE, WV 25840-0359
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2009
—
Nulu Wayside LLC
Nulu Wayside LLC
Quit Claim Deed
related
—
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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