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    401 Hurstbourne Pkwy Louisville, KY 40222-5036
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    Property profile & analytics

    401 Hurstbourne Pkwy, Louisville, KY 40222-5036

    View on Map
    • Turn key restaurants
    • 8,094 SF
    • 1.70 lot acres
    Off-Market
    Last Sale Sep 17, 2020
    $2,655,000
    Property ID
    US34-2384428
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,550,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gustavo's Mexican Grill, Hurstbourne / Restaurant

    Property Details for 401 Hurstbourne Pkwy

    Year built
    1992
    Lot size
    1.70 lot acres
    Zone code
    C2-COMMERCIAL
    Property type
    Turn key restaurants
    APN
    22003000850000
    APU
    22003000850000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 29, 2023 — Hurstbourne Sosa LLC Gustavo Reyes Torres Quitclaim Deed · related —
    Sep 17, 2020 $2,655,000 Gustavo R Torres Rdt LP Grant Deed —
    Jun 10, 2020 — Rdt LP Tp Gardens LLC Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,535,000
      ML approach
      $2,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,078,000
      Market price range: $813k - $2.83M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,785,000
      Current use
      AUTO REPAIR, GARAGE
      $1,550,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.5761
    Latitude
    38.2408
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $36,417
    $1,825,450
    $1,319,340
    $3,144,790
    -
    $1,825,450
    $1,319,340
    $3,144,790

    Comparable in this City

    • Value Estimation by Request
      1.02 Acres

      101 Whittington Pkwy

      RESTAURANT
      101 Whittington Pkwy, Hurstbourne, KY 40222-4901
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    • Value Estimation
      $600,000
      8,277 SF

      9120 Shelbyville Rd

      RESTAURANT
      9120 Shelbyville Rd, Hurstbourne, KY 40222-5110
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      4,102 SF

      9429 Viking Ctr Dr

      RESTAURANT
      9429 Viking Ctr Dr, Hurstbourne, KY 40222-5688
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    • Value Estimation by Request
      3,911 SF

      101 Hurstbourne Pkwy

      RESTAURANT
      101 Hurstbourne Pkwy, Louisville, KY 40222-5107
      View Details
    • Value Estimation by Request
      3,369 SF

      9420 Shelbyville Rd

      RESTAURANT
      9420 Shelbyville Rd, Louisville, KY 40222-5116
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    • Value Estimation by Request
      1.01 Acres

      8121 New La Grange Rd, Unit R

      RESTAURANT
      8121 New La Grange Rd, Lyndon, KY 40222-4637
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,440 SF

      Freestanding Auto Repair Business

      Turnkey auto repair business with property for sale.
      600 Lyndon Ln, Louisville, KY 40222
      View Details
    • $67,500
      0.13 Acres

      Land in Lyndon Area

      0.13 acre lot with easy access to amenities.
      1303 Ormsby Ln, Louisville, KY 40222
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      0.18 Acres

      Lyndon Land Opportunity

      Residential lot for sale in Lyndon, Kentucky.
      325 Camelia Ave, Lyndon, KY 40222
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    • $1,700,000
      10,235 SF

      Multi-Tenant Office Building For Sale

      Two-building office property near Shelbyville Road and Hurstbourne Parkway.
      105 Lyndon Ln, Louisville, KY 40222
      View Details
    • $67,500
      0.13 Acres

      Lyndon, KY Land For Sale

      0.13 acre lot in Lyndon area with easy access.
      1305 Ormsby Ln, Lyndon, KY 40222
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    • $70,000
      0.11 Acres

      Lyndon, KY Land For Sale

      0.11 acre lot in Lyndon near shopping and dining.
      1311 Ormsby Ln, Lyndon, KY 40222
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    Similar Nearby for Lease

    • Contact for pricing
      2,800 SF

      Retail Space on Hurstbourne Parkway

      Retail space available for lease on South Hurstbourne Parkway.
      215 South Hurstbourne Pkwy, Louisville, KY 40222
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail property available for lease in Louisville, Kentucky.
      100 Oxmoor Ct, Louisville, KY 40222
      View Details
    • Contact for pricing

      Retail Development Land For Rent

      4.55 acres of retail development land with traffic light.
      305 N Hurstbourne Pkwy, Louisville, KY 40222
      View Details
    • Contact for pricing

      Freestanding Retail Building on Corner

      7,626 SF freestanding retail building with high visibility.
      206 Bullitt Ln, Louisville, KY 40222
      View Details
    • $16 SF/Yr
      6,245 SF

      Office Space Available For Lease

      Office space available for lease, totaling 4,693 square feet.
      1230 South Hurstbourne Pkwy, Louisville, KY 40222
      View Details
    • Contact for pricing

      East End Office Building

      Office building in a desirable east-end location with walkable amenities.
      9401 Williamsburg Plz, Louisville, KY 40222
      View Details

    Property Visit Statistics

    • Visits by month
      16.6k
    • Visitors by month
      18.8k
    • Avg Time on site
      60 min
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    Louisville, KY 40222-5036
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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