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Property profile & analytics
FOR LEASE
Retail space
3420 Preston Hwy Louisville, KY 40213
Individually Owned
3-yr Hold
Free & Clear
Property ID
US34-0178133
For Lease
1 / 3
$20,125,000
3420 Preston Hwy, Louisville, KY 40213
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1968
Total area
132,636 SF
Lot
8.25 ac (359,326 SF)
Zoning code
C1-COMMERCIAL
APN
13083H00030000
UPID
US34-0178133
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
$23.53M
Comparable Approach
Comparable
$24.01M
Blend (final)
Blend
$20.13M
Owner & transaction history
Catherine Mitchell · 3 yrs held
Catherine Mitchell
since 2023
4 recorded transactions
Zoning & alternative use
C1-COMMERCIAL · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$29.2M
+40.1%
Auto repair, garage
$25.4M
+21.7%
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%
$25,485,000
6.5%
$23,525,000
7%
$21,845,000
Alternative Use
Use
Estimation
RETAIL STORES
$20,875,000
Current use
RESTAURANT
$29,235,000
Change: +40% · Conversion: Easy
AUTO REPAIR, GARAGE
$25,400,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$20.13M
Range $18.11M – $22.14M · ±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
$152 / 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
$190,363
Tax year 2023
Assessed value
$14,185,000
Assessed 2023
Previous assessed
$10,550,000
+34.5% YoY
Effective rate
1.34%
On assessed value
Assessed land
$2,695,110
Assessed improvement
$11,489,890
Land market value
$2,695,110
Improvement market value
$11,489,890
Total market value
$14,185,000
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
1968
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
132,636 SF
Lot
8.25 ac (359,326 SF)
Zoning code
C1-COMMERCIAL
APN
13083H00030000
UPID
US34-0178133
Jurisdiction
JEFFERSON
Zoning & alternative use
C1-COMMERCIAL · Louisville, KY
Zoning C1-COMMERCIAL · permitted uses
C1-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
RETAIL STORES Current
Est. value
$20.9M
RESTAURANT
Est. value
$29.2M
AUTO REPAIR, GARAGE
Est. value
$25.4M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1968
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
8.25 ac
Current owner
From public records · entity-resolved
Catherine Mitchell
Individual
Free & Clear · 3 yrs held
Mailing address
2731 17TH ST STE #300, DENVER, CO 80211-4488
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2026
—
Rpt Preston Place LP
—
Deed
related
$11,000,000 · South State Bank
Jan 20, 2023
—
Catherine Mitchell
Barret Avenue Properties LLC
Deed
—
Dec 21, 2022
$210,000
Sweet Action Ll
Brexton S Martin
Deed
—
Sep 7, 2022
$14,185,000
Rpt Preston Place LP
Preston Place LLC
Special Warranty Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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