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Property profile & analytics
OFF-MARKET
Estimated value
$15,835,000
Hotels
500 4th St Louisville, KY 40202-2504
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US34-2305847
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1905
Total area
248,323 SF
Lot
1 ac (43,734 SF)
Zoning code
C3-CENTRAL BUSINESS
APN
03013E00650000
UPID
US34-2305847
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
-
The Rathskeller Hotel & Motel Resort
-
Towne Park Parking Lot & Garage
-
Gatsby's on Fourth Restaurant
-
First Friday Hop Resort
-
Louisville Tango Festival Nightclub DJ & Entertainment
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.37M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.84M
Owner & transaction history
Rb Seelbach LLC · 8 yrs held
Rb Seelbach LLC
since 2017
6 recorded transactions
Zoning & alternative use
C3-CENTRAL BUSINESS · 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%
$15,570,000
6.5%
$14,370,000
7%
$13,345,000
Blend value · Realmo final
$15.84M
Range $14.25M – $17.42M · ±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
$64 / 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
$427,910
Tax year 2023
Assessed value
$30,026,670
Assessed 2023
Previous assessed
$29,629,780
+1.3% YoY
Effective rate
1.43%
On assessed value
Assessed land
$2,860,260
Assessed improvement
$27,166,410
Land market value
$2,860,260
Improvement market value
$27,166,410
Total market value
$30,026,670
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 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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1905
Heating
YES
Cooling
YES
Stories
11
Total area
248,323 SF
Lot
1 ac (43,734 SF)
Zoning code
C3-CENTRAL BUSINESS
APN
03013E00650000
UPID
US34-2305847
Jurisdiction
JEFFERSON
Zoning & alternative use
C3-CENTRAL BUSINESS · Louisville, KY
Zoning C3-CENTRAL BUSINESS · permitted uses
C3-CENTRAL BUSINESS · 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
1905
Heating
YES
Cooling
Yes
Stories
11
Lot
1 ac
Current owner
From public records · entity-resolved
Rb Seelbach LLC
Entity
Mailing address
4100 REGENT ST STE G, COLUMBUS, OH 43219-6160
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2018
—
Rb Seelbach LLC
—
Deed
related
$32,900,000 · Us Bk
Dec 4, 2017
$38,590,000
Rb Seelbach LLC
Seelbach Louisville LLC
Grant Deed
related
$63,000,000 · Other Institutional Lenders
Sep 7, 2012
—
Seelbach Louisville LLC
—
Deed Of Trust
related
$41,000,000 · Wells Fargo Bank
Dec 4, 2007
$49,280,000
Seelbach Louisville LLC
Meristar Seelbach Spe LLC
Grant Deed
related
$63,000,000 · Principal Life Insurance Co
Jun 19, 2006
—
Meristar Seelbach Spe LLC
—
Deed Of Trust
related
$827,468,036 · Not Available Not Available
—
—
Rb Seelbach LLC
—
Deed Of Trust
related
$32,900,000 · Us Bk
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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