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Property profile & analytics
OFF-MARKET
Estimated value
$3,805,000
Hotels
3500 Springhurst Cmns Dr Louisville, KY 40241-6132
Entity Owned
6-yr Hold
Free & Clear
Property ID
US34-2303032
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2000
Total area
76,008 SF
Lot
2.42 ac (105,415 SF)
Zoning code
C1-COMMERCIAL
APN
21W00201460000
UPID
US34-2303032
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
$4.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.81M
Owner & transaction history
Louisville R Ne Propco LLC · 6 yrs held
Louisville R Ne Propco LLC
since 2019
4 recorded transactions
Zoning & alternative use
C1-COMMERCIAL · 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%
$4,765,000
6.5%
$4,400,000
7%
$4,085,000
Blend value · Realmo final
$3.81M
Range $3.42M – $4.19M · ±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
$50 / 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
$71,796
Tax year 2023
Assessed value
$6,200,000
Assessed 2023
Previous assessed
$9,787,360
-36.7% YoY
Effective rate
1.16%
On assessed value
Assessed land
$806,000
Assessed improvement
$5,394,000
Land market value
$806,000
Improvement market value
$5,394,000
Total market value
$6,200,000
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 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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2000
Heating
YES
Cooling
YES
Stories
4
Total area
76,008 SF
Lot
2.42 ac (105,415 SF)
Zoning code
C1-COMMERCIAL
APN
21W00201460000
UPID
US34-2303032
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.
Building & site characteristics
From public records
Year built
2000
Heating
YES
Cooling
Yes
Stories
4
Lot
2.42 ac
Current owner
From public records · entity-resolved
Louisville R Ne Propco LLC
Entity
Free & Clear · 6 yrs held
Mailing address
980 N MICHIGAN AVE STE #1700, CHICAGO, IL 60611-7503
Ownership since
2019
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
Jul 8, 2025
—
Kyri LLC
—
Deed
related
$7,200,000 · Interra Cu
Dec 18, 2024
—
Louisville R Ne Propco LLC
—
Deed
related
$130,000,000 · Louisville R Ne Opco LLC
Aug 28, 2019
$9,100,000
Louisville R Ne Propco LLC
Rlj II-r Louisville Ne Ky LLC
Grant Deed
related
—
Aug 9, 2006
$10,852,539
Rlj II-r Louisville Ne Ky LLC
Kenres LLC
Grant Deed
related
$8,557,605 · Banc/america Com'l Mtg 2005-3
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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