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    6109 Preston Hwy Louisville, KY 40219-1319
    Property profile & analytics

    6109 Preston Hwy, Louisville, KY 40219-1319

    View on Map
    • Hotels
    • 15,048 SF
    • 0.64 lot acres
    Off-Market
    Property ID
    US34-0034244
    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
    $870,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Econo Lodge Louisville Airport / Hotel & Motel

    Property Details for 6109 Preston Hwy

    Year built
    2001
    Lot size
    0.64 lot acres
    Zone code
    C1-COMMERCIAL
    Property type
    Hotels
    Property subtype
    Motels
    APN
    23063202600000
    APU
    23063202600000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 26, 2019 — Nilkanth One INC Samir Patel Correction Deed · related $955k · Republic Bk&tr
    Aug 15, 2016 — Nilkanth One INC — Deed · related $1.3M · Your Cmnty Bk
    Feb 24, 2006 $1,425,000 Nilkanth One INC Patel,samir Grant Deed · related $725k · Republic Bank & Trust
    — — Nilkanth One INC — Deed Of Trust · related $950k · Your Cmnty Bk
    — — Nilkanth One INC — Deed Of Trust · related $955k · Republic Bk&tr
    — — Nilkanth One INC — Deed Of Trust · related $1.3M · Your Cmnty Bk
    — — Nilkanth One INC — Deed Of Trust · related $630k · Your Community Bank
    — — Nilkanth One INC — Deed Of Trust · related $979k · Your Community Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $945,000
      6.5%
      $870,000
      7%
      $810,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.6995
    Latitude
    38.1623
    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
    $16,819
    $137,320
    $1,302,680
    $1,440,000
    -
    $137,320
    $1,302,680
    $1,440,000

    Comparable in this City

    • Value Estimation
      $1,750,000
      38,418 SF

      6623 Preston Hwy

      HOTEL/MOTEL
      6623 Preston Hwy, Louisville, KY 40219-1821
      View Details
    • Value Estimation
      $1,965,000
      40,389 SF

      7121 Preston Hwy

      HOTEL/MOTEL
      7121 Preston Hwy, Louisville, KY 40219-2721
      View Details
    • Value Estimation by Request
      0.07 Acres

      1162 Lone Oak Ave

      AUTO REPAIR, GARAGE
      1162 Lone Oak Ave, Louisville, KY 40219
      View Details
    • Value Estimation by Request
      0.18 Acres

      4003 Old Outer Loop

      VACANT COMMERCIAL LAND
      4003 Old Outer Loop, Louisville, KY 40219-3132
      View Details
    • Value Estimation by Request
      9.21 Acres

      1830 Outer Loop

      COMMERCIAL (GENERAL)
      1830 Outer Loop, Louisville, KY 40219-3429
      View Details
    • Value Estimation by Request
      42.90 Acres

      3195 Park Rd

      SHOW ROOM, WAREHOUSE
      3195 Park Rd, Louisville, KY 40219-5360
      View Details

    Similar Nearby for Sale

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      Retail Development Land For Sale

      Exceptional retail development land at high-traffic intersection.
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      Land For Sale

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      25,274 SF

      Freestanding Chewy, Inc. Office Investment

      Freestanding Chewy, Inc. office investment property in Louisville, KY.
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    Similar Nearby for Lease

    • Contact for pricing
      324,416 SF

      Louisville Warehouse Space Available

      Warehouse space for rent at 2103 South Park Road.
      2103 South Park Rd, Louisville, KY 40219
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    • Contact for pricing
      324,576 SF

      Modern Bulk Distribution Warehouse

      Class A warehouse under construction with I-65 access.
      8001 Air Commerce Dr, Louisville, KY 40219
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      7,470 SF

      Functional Warehouse with Yard Space

      7,470 SF warehouse with ample parking and storage space.
      2706 S Park Rd, Louisville, KY 40219
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    • Contact for pricing
      1,000,000 SF

      I-65 Accessible Distribution Warehouse

      Large distribution warehouse with I-65 exposure and ample parking.
      5540 Minor Ln, Louisville, KY 40219
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      3,526 SF

      Retail Space Near Airport

      Retail space available across from Louisville Muhammad Ali International Airport.
      5769-5771 Preston Hwy, Louisville, KY 40219
      View Details
    • Contact for pricing

      Prime Outparcels in Retail Corridor

      Outparcels in South Louisville retail corridor, high traffic location.
      7500 Jefferson Blvd, Louisville, KY 40219
      View Details

    Property Visit Statistics

    • Visits by month
      930
    • Visitors by month
      386
    • Avg Time on site
      287 min
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    6109 Preston Hwy
    Louisville, KY 40219-1319
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    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
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