Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    516 5th St Louisville, KY 40202-2321
    Back to Search
    Property profile & analytics

    516 5th St, Louisville, KY 40202-2321

    View on Map
    • Parking lots & garages
    • 0.07 lot acres
    Off-Market
    Last Sale Feb 28, 2022
    Property ID
    US34-0240379
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 520 S. Fifth / Parking Lot & Garage
    • 516 S 5th St Parking / Parking Lot & Garage

    Property Details for 516 5th St

    Lot size
    0.07 lot acres
    Zone code
    C3-CENTRAL BUSINESS
    Property type
    Parking lots & garages
    APN
    03013E00320000
    APU
    03013E00320000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 28, 2022 — Bradley F Miebl Pnc Bank National Association Special Warranty Deed —
    Oct 8, 2021 — Pnc Bank National Association Pnc Bank National Association Intrafamily Transfer · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.7596
    Latitude
    38.2508
    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
    $2,229
    $156,390
    $0.00
    $156,390
    -
    $156,390
    $0.00
    $156,390

    Comparable in this City

    • Value Estimation by Request

      117 Preston St, Unit G4

      RESIDENTIAL PARKING GARAGE
      117 Preston St, Louisville, KY 40202-1221
      View Details
    • Value Estimation by Request
      0.05 Acres

      Chestnut St

      PARKING LOT
      Chestnut St, Louisville, KY 40202
      View Details
    • Value Estimation by Request
      0.06 Acres

      520 Chestnut St

      PARKING GARAGE, PARKING STRUCTURE
      520 Chestnut St, Louisville, KY 40202-2235
      View Details
    • Value Estimation by Request
      0.07 Acres

      1st At E Gray St

      PARKING LOT
      1st At E Gray St, Louisville, KY 40202
      View Details
    • Value Estimation by Request
      0.94 Acres

      550 2nd St

      PARKING GARAGE, PARKING STRUCTURE
      550 2nd St, Louisville, KY 40202-1841
      View Details
    • Value Estimation by Request
      0.68 Acres

      528 2nd St, Unit 538

      PARKING GARAGE, PARKING STRUCTURE
      528 2nd St, Louisville, KY 40202-1841
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Mixed-Use Retail Property For Sale

      Mixed-use retail property with 8,243 square feet available for sale.
      100 E Market St, Louisville, KY 40202
      View Details
    • Contact for pricing
      2,900 SF

      Retail Hospitality Development Opportunity

      Vacant land and buildings suitable for retail or hospitality development.
      610 E Market St, Louisville, KY 40202
      View Details
    • Contact for pricing
      12,665 SF

      Corner Bank Branch & Offices

      First floor bank branch and executive offices with parking.
      333 E Main St, Louisville, KY 40202
      View Details
    • Contact for pricing
      39,900 SF

      Mixed-Use Building with Creative Space

      39,900 SF mixed-use building featuring creative office and retail space.
      307 W Muhammad Ali Blvd, Louisville, KY 40202
      View Details
    • Contact for pricing
      9,530 SF

      Prime NuLu Development Opportunity

      High-visibility property in Louisville's dynamic neighborhood with income potential.
      713 E Market St, Louisville, KY 40202
      View Details
    • Contact for pricing
      24,888 SF

      Louisville Multifamily High-Rise Investment

      High-rise multifamily property in Louisville's vibrant downtown area.
      600 Marshall St, Louisville, KY 40202
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,700 SF

      Retail Space Available For Rent

      Retail space available for lease in Louisville, Kentucky.
      426 W Jefferson St, Louisville, KY 40202
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      536 S 4Th St, Louisville, KY 40202
      View Details
    • Contact for pricing
      6,335 SF

      Retail Space on Main Street

      Retail space available for lease in Louisville, Kentucky.
      209 W Main St, Louisville, KY 40202
      View Details
    • Contact for pricing

      Corner Bank Branch with Offices

      First floor bank branch and executive offices for sale.
      333 E Main St, Louisville, KY 40202
      View Details
    • Contact for pricing

      Historic Building Retail/Office Space

      Street-level commercial space in historic building available for lease.
      707 S 3Rd St, Louisville, KY 40202
      View Details
    • Contact for pricing

      Prime Retail/Office Space in Louisville

      5,610 SF retail/office space near Louisville's Medical & Education District.
      706 E Broadway, Louisville, KY 40202
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    516 5th St
    Louisville, KY 40202-2321
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    516 5th St, Louisville, KY, 40202
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!