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Property profile & analytics
OFF-MARKET
Estimated value
$4,795,000
Office buildings
2501 Nelson Miller Pkwy Louisville, KY 40223-2221
Entity Owned
16-yr Hold
Free & Clear
Property ID
US34-0029441
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Total area
33,474 SF
Lot
3.35 ac (145,926 SF)
Zoning code
PEC-PLANNED EMPLOYMENT CE
APN
21277500580000
UPID
US34-0029441
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
-
Barrow Brown Carrington, PLLC Law Firm
-
LeadingAge Kentucky Charitable Organization Social Service Agency
-
Kentucky Hospital Association Charitable Organization Social Service Agency
-
EastPoint Insurance Group Insurance Agency
-
Owens Corning OEM Solutions Group Business Service Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.09M
Blend (final)
Blend
$4.80M
Owner & transaction history
KENTUCKY HOSPITAL SERVICE CORP · 1 yrs held
KENTUCKY HOSPITAL SERVICE CORP
since 2025
Last sale
$3.0M
1 recorded transaction
Zoning & alternative use
PEC-PLANNED EMPLOYMENT CE · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.4M
+52.6%
Auto repair, garage
$6.4M
+32.6%
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
OFFICE BUILDING
$4,835,000
Current use
RESTAURANT
$7,380,000
Change: +53% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,410,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$4,260,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$4.80M
Range $4.32M – $5.27M · ±10% · vs last sale $3.00M (May 1 2025)
Last sale anchor
$3.00M
May 1 2025
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
$143 / 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
$47,220
Tax year 2023
Assessed value
$4,077,740
Assessed 2023
Previous assessed
$4,077,740
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,182,550
Assessed improvement
$2,895,190
Land market value
$1,182,550
Improvement market value
$2,895,190
Total market value
$4,077,740
Applied tax rate
20.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Heating
YES
Cooling
YES
Stories
2
Total area
33,474 SF
Lot
3.35 ac (145,926 SF)
Zoning code
PEC-PLANNED EMPLOYMENT CE
APN
21277500580000
UPID
US34-0029441
Jurisdiction
JEFFERSON
Zoning & alternative use
PEC-PLANNED EMPLOYMENT CE · Louisville, KY
Zoning PEC-PLANNED EMPLOYMENT CE · permitted uses
PEC-PLANNED EMPLOYMENT CE · 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
OFFICE BUILDING Current
Est. value
$4.8M
RESTAURANT
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$6.4M
RETAIL STORES
Est. value
$4.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1998
Heating
YES
Cooling
Yes
Stories
2
Lot
3.35 ac
Current owner
From public records · entity-resolved
KENTUCKY HOSPITAL SERVICE CORP
Entity
Free & Clear · 1 yrs held
Mailing address
2501 NELSON MILLER PKWY, LOUISVILLE, KY 40223-2221
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
May 1, 2025
$3,000,000
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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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