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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Manufacturing properties
524 Baxter Ave, Louisville, KY 40204-1154
Individually Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US34-0023780
Property summary
AI-generated overview
This exceptional 10,484-square-foot free-standing retail building is available for lease at 524 Baxter Avenue in Louisville, Kentucky. Located in the vibrant 40204 zip code, this single-tenant property offers significant potential for a variety of businesses. The building's versatile zoning (M-2) allows for a range of uses, including restaurant, tavern, bar, nightclub, or other retail establishments. The entire 10,484 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. The property sits on a 0.21-acre lot, offering ample space for outdoor seating or other potential uses, subject to zoning regulations. This prime location provides excellent street visibility and accessibility, ensuring high foot traffic and easy customer access. The building's size and flexible zoning make it an ideal opportunity for a business seeking a prominent presence in a thriving Louisville neighborhood. Serious inquiries are encouraged to explore the possibilities of this exceptional retail space. The property is ready for immediate occupancy.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1930
Total area
9,291 SF
Lot
0.12 ac (5,345 SF)
Zoning code
M2-INDUSTRIAL
APN
05068C00330000
UPID
US34-0023780
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
-
Alliance Machine Tool Co Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$410k
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$705k
Blend (final)
Blend
$615k
Owner & transaction history
Janet L Margerum · 8 yrs held
Janet L Margerum
since 2017
5 recorded transactions
Zoning & alternative use
M2-INDUSTRIAL · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$805,000
+68.0%
Commercial (general)
$705,000
+46.7%
Warehouse, storage
$680,000
+41.7%
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
$410,000
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$795,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$480,000
Current use
OFFICE BUILDING
$805,000
Change: +68% · Conversion: Difficult
COMMERCIAL (GENERAL)
$705,000
Change: +47% · Conversion: Difficult
WAREHOUSE, STORAGE
$680,000
Change: +42% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$66 / 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
$18,752
Tax year 2023
Assessed value
$1,397,290
Assessed 2023
Previous assessed
$259,590
+438.3% YoY
Effective rate
1.34%
On assessed value
Assessed land
$80,190
Assessed improvement
$1,317,100
Land market value
$80,190
Improvement market value
$1,317,100
Total market value
$1,397,290
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1930
Heating
YES
Cooling
NONE
Stories
1
Total area
9,291 SF
Lot
0.12 ac (5,345 SF)
Zoning code
M2-INDUSTRIAL
APN
05068C00330000
UPID
US34-0023780
Jurisdiction
JEFFERSON
Zoning & alternative use
M2-INDUSTRIAL · Louisville, KY
Zoning M2-INDUSTRIAL · permitted uses
M2-INDUSTRIAL · 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
INDUSTRIAL (GENERAL) Current
Est. value
$480,000
OFFICE BUILDING
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$705,000
WAREHOUSE, STORAGE
Est. value
$680,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1930
Heating
YES
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Janet L Margerum
Individual
Free & Clear · 8 yrs held
Mailing address
1156 BARDSTOWN RD, LOUISVILLE, KY 40204-1359
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2022
—
Wayne P Gallavin
—
Deed
related
$930,000 · Eclipse Bank INC
Nov 21, 2017
$380,720
Janet L Margerum
Margerum,janet L & Konrad P
Grant Deed
related
—
Jul 27, 2012
$15,000
Janet L Margerum
Jocham,eleanor W & Scott G
Grant Deed
—
Jul 27, 2012
—
Eleanor W Jocham
Walker,john D
Grant Deed
related
—
Jul 11, 2012
—
Janet L Margerum
Walker,john D
Quit Claim Deed
related
—
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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