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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Sports & entertainment properties
3801 Rock Bay Dr Louisville, KY 40245-2083
Individually Owned
2-yr Hold
Free & Clear
Property ID
US34-2395849
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1996
Construction
WOOD
Total area
3,483 SF
Lot
3.06 ac (133,076 SF)
Zoning code
R5-RESIDENTIAL SINGLE FAM
APN
21283501310000
UPID
US34-2395849
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
-
Forest Springs Pool Swimming Pool Hardware & Home Improvement
-
Forest Springs Swim & Tennis Club Swimming Pool Hardware & Home Improvement
-
Forest Springs Club Nightclub Music Venue
-
Forest Springs Frogs Swimming Pool Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$565k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$705k
Owner & transaction history
Forest Sprong Homeowners Associatio · 2 yrs held
Forest Sprong Homeowners Associatio
since 2023
Last sale
$846,400
4 recorded transactions
Zoning & alternative use
R5-RESIDENTIAL SINGLE FAM · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$580,000
+169.1%
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
$705,000
ML approach
$565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$580,000
Change: +169% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $846k (Dec 7 2023)
Last sale anchor
$846k
Dec 7 2023
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
$202 / 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
$5,790
Tax year 2023
Assessed value
$500,000
Assessed 2023
Previous assessed
$500,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$305,530
Assessed improvement
$194,470
Land market value
$305,530
Improvement market value
$194,470
Total market value
$500,000
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 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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
6
Total area
3,483 SF
Lot
3.06 ac (133,076 SF)
Zoning code
R5-RESIDENTIAL SINGLE FAM
APN
21283501310000
UPID
US34-2395849
Jurisdiction
JEFFERSON
Zoning & alternative use
R5-RESIDENTIAL SINGLE FAM · Louisville, KYZoning R5-RESIDENTIAL SINGLE FAM · permitted uses
R5-RESIDENTIAL SINGLE FAM · Louisville, KY
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
OFFICE BUILDING
Est. value
$580,000
OFFICE BUILDING
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
1996
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
6
Lot
3.06 ac
Current owner
From public records · entity-resolved
Forest Sprong Homeowners Associatio
Individual
Free & Clear · 2 yrs held
Mailing address
PO BOX 586, PEWEE VALLEY, KY 40056-0586
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
Dec 7, 2023
$846,400
Forest Sprong Homeowners Associatio
Forest Springs Club LLC
Warranty Deed
—
Oct 6, 2021
$500,000
Fores Spring Club LLC
One Eleven Holdings LLC
Warranty Deed
$412,200 · Evansville Teachers FCU
Feb 1, 2018
—
One Eleven Holdings INC
Forest Springs Swim & Tennis C
Grant Deed
related
—
Mar 26, 2014
—
Forest Springs Swim
Forest Springs Lc
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.
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