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Property profile & analytics
OFF-MARKET
Estimated value
$2,275,000
Commercial real estate
305 Pleasure Isle Dr, Erlanger, KY 41017-9460
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US34-0020292
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2009
Total area
30,986 SF
Lot
5.05 ac (219,978 SF)
APN
045-10-00-028.07
UPID
US34-0020292
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.97M
Blend (final)
Blend
$2.28M
Owner & transaction history
Recovery Kentucky Transitions · 19 yrs held
Recovery Kentucky Transitions
since 2007
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.7M
+20.1%
Auto repair, garage
$2.4M
+6.0%
Apartment house (5+ units)
$2.4M
+5.4%
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 Erlanger submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Erlanger 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
COMMERCIAL (GENERAL)
$2,280,000
Current use
RETAIL STORES
$2,740,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,420,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,405,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$2.28M
Range $2.05M – $2.50M · ±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
$73 / 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
Assessed value
$3,301,500
Assessed 2023
Previous assessed
$3,301,500
+0.0% YoY
Assessed land
$503,000
Assessed improvement
$2,798,500
Land market value
$503,000
Improvement market value
$2,798,500
Total market value
$3,301,500
Applied tax rate
11.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2009
Heating
NONE
Stories
3
Total area
30,986 SF
Lot
5.05 ac (219,978 SF)
APN
045-10-00-028.07
UPID
US34-0020292
Jurisdiction
KENTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
RETAIL STORES
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2009
Heating
NONE
Stories
3
Lot
5.05 ac
Current owner
From public records · entity-resolved
Recovery Kentucky Transitions
Individual
Mailing address
700 FAIRFIELD AVE, BELLEVUE, KY 41073-1018
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2008
—
Transitions Recovery Ky LLC
—
Trustees Deed
related
$2,117,076 · Citizens Union Bank
May 17, 2007
$295,000
Recovery Kentucky Transitions
Transitions INC
Warranty Deed
related
$123,257 · Transitions INC
Jun 2, 2006
—
Transitions INC
—
Trustees Deed
related
$123,500 · Fifth Third Bank Northern Ky
Apr 20, 2006
$190,000
A & C Properties LLC
Anthonissen,gary R & Joyce A
Quit Claim Deed
related
—
—
—
Recovery Kentucky Transitions
—
Deed Of Trust
related
$400,000 · Bank Of Kentucky
—
—
Transitions Recovery Ky LLC
—
Deed Of Trust
related
$798,711 · Transitions INC
—
—
Recovery Kentucky Transitions
—
Deed Of Trust
related
$97,750 · Fifth Third Bancorp
—
—
Transitions Recovery Ky LLC
—
Deed Of Trust
related
$1,139,769 · Kentucky Housing Corp
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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