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Property profile & analytics
OFF-MARKET
Estimated value
$2,150,000
Hotels
571 Phillips Ln Louisville, KY 40209-1307
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US34-2327813
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1994
Total area
23,954 SF
Lot
2.05 ac (89,298 SF)
Zoning code
C2-COMMERCIAL
APN
13083K01070000
UPID
US34-2327813
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
-
Rodeway Inn Hotel & Motel
-
Khandan Enterprises Inc Hotel & Motel
-
Car Rental Louisville Car Rental Facility
-
Studio 6 Suites Louisville KY Airport Expo Center Hotel & Motel Vacation Rental
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.05M
CAP Approach
CAP
$1.39M
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$2.15M
Owner & transaction history
Philips Lane LLC · 2 yrs held
Philips Lane LLC
since 2023
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
C2-COMMERCIAL · 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
$2,075,000
ML approach
$2,050,000
CAP Approach
CAP Return
Estimation
6%
$1,500,000
6.5%
$1,385,000
7%
$1,285,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$3,120,000
Current use
RETAIL STORES
$3,050,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$2,790,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.15M
Range $1.94M – $2.37M · ±10% · vs last sale $2.50M (Jul 21 2023)
Last sale anchor
$2.50M
Jul 21 2023
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
$90 / 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
$23,092
Tax year 2023
Assessed value
$1,720,710
Assessed 2023
Previous assessed
$1,350,000
+27.5% YoY
Effective rate
1.34%
On assessed value
Assessed land
$734,460
Assessed improvement
$986,250
Land market value
$734,460
Improvement market value
$986,250
Total market value
$1,720,710
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
1994
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Total area
23,954 SF
Lot
2.05 ac (89,298 SF)
Zoning code
C2-COMMERCIAL
APN
13083K01070000
UPID
US34-2327813
Jurisdiction
JEFFERSON
Zoning & alternative use
C2-COMMERCIAL · Louisville, KY
Zoning C2-COMMERCIAL · permitted uses
C2-COMMERCIAL · 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
$3.1M
RETAIL STORES
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.8M
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
1994
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Lot
2.05 ac
Current owner
From public records · entity-resolved
Philips Lane LLC
Entity
Mailing address
3307 MDW BLF WAY, LOUISVILLE, KY 40245-8542
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2023
$2,500,000
Philips Lane LLC
Khandan Enterprises INC
Deed
$3,545,000 · Gbank
Nov 4, 2010
—
Khandan Ents INC
Khandan Ents INC
Quit Claim Deed
related
—
May 19, 2006
—
Khandan Ents INC
—
Trustees Deed
related
$10,000 · First Federal Savings Bank
Mar 11, 2005
—
Khandan Ents INC
—
Trustees Deed
related
$100,000 · First Federal Savings Bank
Feb 17, 2005
—
Khandan Ents INC
—
Trustees Deed
related
$50,000 · Republic Bank & Trust
—
—
Khandan Ents INC
—
Loan Modification
related
—
—
—
Khandan Ents INC
—
Loan Modification
related
—
—
—
Khandan Ents INC
—
Deed Of Trust
related
$1,478,677 · Your Cmnty Bk
—
—
Khandan Ents INC
—
Deed Of Trust
related
$300,000 · Republic Bank & Trust
—
—
Khandan Ents INC
—
Deed Of Trust
related
$800,000 · First Federal Savings Bank
—
—
Khandan Ents INC
—
Deed Of Trust
related
$1,548,126 · First Fsb/elizabethtown INC
—
—
Khanden Ents INC
—
Deed Of Trust
related
$200,000 · First Federal Savings Bank
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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