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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4209 Shelbyville Rd Saint Matthews, KY 40207-3955

    • Office buildings
    • 5,663 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0291313
    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.

    Current Use by Public Records

    • Playthings Toy Shoppe / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
    • Robin Brown - State Farm Insurance Agent / Insurance Agency

    Property Details for 4209 Shelbyville Rd

    Year built
    1985
    Lot size
    0.16 lot acres
    Property size
    5,663 SF
    Zone code
    C1-COMMERCIAL
    Property type
    Office buildings
    APN
    21032000010000
    APU
    21032000010000

    Description

    This freestanding, two-story commercial building, totaling 3,065 square feet, presents a prime retail opportunity on Shelbyville Road in Jefferson County. Currently, 2,900 square feet of space is available for lease on the second floor, offering excellent visibility to high traffic volume. The building boasts convenient front door parking, a significant advantage for customers and employees. The property sits on a 0.26-acre lot (11,246 square feet) and benefits from its location near numerous amenities, enhancing its appeal and potential for success. Constructed in 1986, the building is zoned C1, allowing for a variety of commercial uses. The existing tenant can vacate with 60 days' notice, providing flexibility for a quick occupancy. This property is ideal for businesses seeking high visibility and convenient access in a thriving commercial area. The building features one structure with a total of 3,065 square feet. The property offers a unique opportunity to establish a presence in a busy commercial corridor. The ample parking and convenient location make this a highly desirable space for a variety of retail businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $826,000
      Market price range: $679k - $1.34M
      AI Estimate
      $812,000
      Market price range: $369k - $1.46M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,010,000
      Current use
      RESTAURANT
      $1,250,000
      Change: +23% Conversion: Moderate
      RETAIL STORES
      $1,240,000
      Change: +23% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,085,000
      Change: +7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Matthews
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.6389
    Latitude
    38.252
    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
    $8,749
    $392,980
    $369,170
    $762,150
    -
    $392,980
    $369,170
    $762,150

    Comparable in this City

    • Value Estimation
      $725,000
      3,072 SF

      286 Hubbards Ln

      OFFICE BUILDING • 3,072 SF
      286 Hubbards Ln, Saint Matthews, KY 40207-2233
      View Details
    • Value Estimation
      $705,000
      2,982 SF

      4507 Shelbyville Rd

      OFFICE BUILDING • 2,982 SF
      4507 Shelbyville Rd, Bellewood, KY 40207-3313
      View Details
    • Value Estimation by Request
      2,668 SF

      140 Chenoweth Ln

      OFFICE BUILDING • 2,668 SF
      140 Chenoweth Ln, Saint Matthews, KY 40207-2651
      View Details
    • Value Estimation
      $1,755,000
      15,194 SF

      908 Dupont Rd

      OFFICE BUILDING • 15,194 SF
      908 Dupont Rd, Saint Matthews, KY 40207-4602
      View Details
    • Value Estimation
      $3,835,000
      18,750 SF

      1000 Dupont Rd

      OFFICE BUILDING • 18,750 SF
      1000 Dupont Rd, Saint Matthews, KY 40207-4611
      View Details
    • Value Estimation
      $18,565,000
      92,412 SF

      Dutchmans Ln

      OFFICE BUILDING • 92,412 SF
      Dutchmans Ln, Saint Matthews, KY 40207
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,579 SF

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      Restaurants • 6,579 SF
      3922 Shelbyville Rd, Louisville, KY 40207
      View Details
    • $85,500
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      0.62-acre lot for a unique house in Louisville, KY.
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      Homesite in an intimate community with access to local amenities.
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    • New
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      Residential Land in Poplar Hill

      Homesite in an intimate community with custom-built homes.
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      Remodeled Condo with Free Power

      Completely remodeled condo in St. Matthews with charging countertops.
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      Land available for sale in Louisville, Kentucky.
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    Similar Nearby for Lease

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      Class A Office Space, Prime Location
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    • Contact for pricing
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      Class A Office, Retail & Restaurant Space
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    • $34 SF/Yr
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      Retail Space in Richlawn Center

      3,300-SF retail space with high visibility and parking.
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      View Details
    • $10 SF/Yr
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    4209 Shelbyville Rd
    Saint Matthews, KY 40207-3955
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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.

    More about this property
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