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Property profile & analytics
OFF-MARKET
Estimated value
$7,055,000
Hotels
447 Farmington Ave Louisville, KY 40209-1133
Entity Owned
~
Est. High Equity
Property ID
US34-0036453
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2008
Total area
73,450 SF
Lot
1.54 ac (67,257 SF)
Zoning code
EZ1-ENTERPRISE ZONE
APN
12056G00010000
UPID
US34-0036453
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
-
JBS Swift Pork Company Industrial Manufacturer Production Facility
-
Cast Iron Steakhouse Restaurant
-
Holiday Inn Louisville Airport - Fair/Expo, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.25M
Comparable Approach
Comparable
$6.37M
Blend (final)
Blend
$7.06M
Owner & transaction history
Optimum 2 LLC
Optimum 2 LLC
since 2026
Last sale
$8.8M
7 recorded transactions
Zoning & alternative use
EZ1-ENTERPRISE ZONE · 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%
$4,605,000
6.5%
$4,250,000
7%
$3,945,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$9,565,000
Current use
RETAIL STORES
$9,345,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$8,555,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$7.06M
Range $6.35M – $7.76M · ±10% · vs last sale $8.80M (Jan 6 2026)
Last sale anchor
$8.80M
Jan 6 2026
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
$96 / 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
$51,728
Tax year 2023
Assessed value
$3,854,556
Assessed 2023
Previous assessed
$2,637,889
+46.1% YoY
Effective rate
1.34%
On assessed value
Assessed land
$616,730
Assessed improvement
$3,237,826
Land market value
$616,730
Improvement market value
$3,237,826
Total market value
$3,854,556
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 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
2008
Heating
YES
Cooling
NONE
Stories
5
Total area
73,450 SF
Lot
1.54 ac (67,257 SF)
Zoning code
EZ1-ENTERPRISE ZONE
APN
12056G00010000
UPID
US34-0036453
Jurisdiction
JEFFERSON
Zoning & alternative use
EZ1-ENTERPRISE ZONE · Louisville, KY
Zoning EZ1-ENTERPRISE ZONE · permitted uses
EZ1-ENTERPRISE ZONE · 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
HOTEL/MOTEL Current
Est. value
$9.6M
RETAIL STORES
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.6M
HOTEL/MOTEL Current
RETAIL STORES
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
2008
Heating
YES
Cooling
Yes
Stories
5
Lot
1.54 ac
Current owner
From public records · entity-resolved
Optimum 2 LLC
Entity
Mailing address
591 W PUTNAM AVE, GREENWICH, CT 06830-6005
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2026
$8,800,000
Optimum 2 LLC
Hotel Louisville LP
Special Warranty Deed
—
May 30, 2017
—
Hotel Louisville LP
—
Grant Deed
related
$577,270,000 · Jp Morgan Chase Bk
Aug 3, 2012
$7,000,000
Hotel Louisville LP
Hrs Farmington Properties LLC
Grant Deed
—
Aug 24, 2006
—
Hiten K Timbawala
Timbawala,hiten K
Quit Claim Deed
related
—
Mar 8, 2006
$230,000
Hiten K Timbawala
Holland,donald L & Tammy
Grant Deed
$161,000 · Pbi Bank INC
—
—
Hotel Louisville LP
—
Deed Of Trust
related
$8,000,000 · Wells Fargo Bank
—
—
Hrs Farmington Properties LLC
—
Deed Of Trust
related
$8,800,000 · Pbi Bank INC
—
—
Hrs Farmington Properties LLC
—
Deed Of Trust
related
$1,947,000 · Capital Access Corp
—
—
Donald L Holland
—
Deed Of Trust
related
$16,787 · Countrywide Home Loans INC
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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