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Property profile & analytics
OFF-MARKET
Estimated value
$4,950,000
Office buildings
650 3rd Spgs Rd Bowling Green, KY 42104-7520
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US34-0552042
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
CONCRETE
Total area
30,354 SF
Lot
4.32 ac (188,179 SF)
APN
053A-05-002
UPID
US34-0552042
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.79M
Comparable Approach
Comparable
$4.31M
Blend (final)
Blend
$4.95M
Owner & transaction history
Af Glenwood 5 LLC · 3 yrs held
Af Glenwood 5 LLC
since 2022
Last sale
$5.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.0M
+74.3%
Auto repair, garage
$4.8M
+5.2%
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 Bowling Green submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bowling Green 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
$4,680,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,265,000
6.5%
$5,785,000
7%
$5,370,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,565,000
Current use
RESTAURANT
$7,960,000
Change: +74% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,805,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$4.95M
Range $4.46M – $5.45M · ±10% · vs last sale $5.30M (Jul 29 2022)
Last sale anchor
$5.30M
Jul 29 2022
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
$163 / 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
$36,880
Tax year 2023
Assessed value
$4,300,910
Assessed 2023
Previous assessed
$2,500,000
+72.0% YoY
Effective rate
0.86%
On assessed value
Total market value
$4,300,910
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
30,354 SF
Lot
4.32 ac (188,179 SF)
APN
053A-05-002
UPID
US34-0552042
Jurisdiction
WARREN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.6M
RESTAURANT
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$4.8M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1988
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
4.32 ac
Current owner
From public records · entity-resolved
Af Glenwood 5 LLC
Entity
Mailing address
705 NW GRAND RDG DR, CAMAS, WA 98607-8761
Ownership since
2022
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
Jan 3, 2023
—
Af Glenwood 5 LLC
—
Deed
related
$3,475,304 · First Interstate Bank
Dec 13, 2022
—
Af Glenwood 5 LLC
—
Deed
related
$4,802,210 · First Interstate Bank
Nov 7, 2022
—
Af Glenwood 5 LLC
—
Deed
related
$3,138,500 · First Interstate Bank
Jul 29, 2022
$5,300,919
Af Glenwood 5 LLC
Three Springs Group LLC
Special Warranty Deed
$2,650,460 · First Interstate Bank
Mar 6, 2014
$2,650,000
Three Springs Group LLC
Agrp Of Kentucky LLC
Special Warranty Deed
—
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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