Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7511 Shelbyville Rd Norwood, KY 40222-5407

    • Auto shops
    • 7,401 SF
    • 0.72 lot acres
    OFF-MARKET
    Value Estimations
    $1,265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0381989
    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.

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 7511 Shelbyville Rd

    Year built
    1975
    Lot size
    0.72 lot acres
    Property size
    7,401 SF
    Zone code
    C1-COMMERCIAL
    Property type
    Auto shops
    APN
    21025700010001
    APU
    21025700010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,078,000
      Market price range: $317k - $1.08M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,415,000
      Current use
      RESTAURANT
      $1,630,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $1,265,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.6145
    Latitude
    38.2499
    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
    $16,466
    $1,094,700
    $339,610
    $1,434,310
    -
    $1,094,700
    $339,610
    $1,434,310

    Comparable in this City

    • Value Estimation
      $2,155,000
      16,833 SF

      7301 New La Grange Rd

      AUTO REPAIR, GARAGE • 16,833 SF
      7301 New La Grange Rd, Louisville, KY 40222-4811
      View Details
    • Value Estimation
      $1,440,000
      17,128 SF

      7325 New La Grange Rd

      AUTO REPAIR, GARAGE • 17,128 SF
      7325 New La Grange Rd, Louisville, KY 40222-4811
      View Details
    • Value Estimation
      $3,130,000
      18,710 SF

      100 Oxmoor Ct

      AUTO REPAIR, GARAGE • 18,710 SF
      100 Oxmoor Ct, Louisville, KY 40222-5432
      View Details
    • Value Estimation
      $11,900,000
      74,160 SF

      8001 Shelbyville Rd

      AUTO REPAIR, GARAGE • 74,160 SF
      8001 Shelbyville Rd, Lyndon, KY 40222-5417
      View Details
    • Value Estimation
      $1,025,000
      6,000 SF

      8014 Shelbyville Rd

      AUTO REPAIR, GARAGE • 6,000 SF
      8014 Shelbyville Rd, Hurstbourne, KY 40222-5418
      View Details
    • Value Estimation by Request
      3,590 SF

      609 Lyndon Ln

      AUTO REPAIR, GARAGE • 3,590 SF
      609 Lyndon Ln, Lyndon, KY 40222-4639
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Comfortable Condo with Attached Garage

      Two-bedroom, two-bath condo with attached garage and open layout.
      8625 Shelbyville Rd, Louisville, KY 40222
      View Details
    • $67,500
      0.13 Acres

      Land in Lyndon Area

      0.13 acre lot with easy access to amenities.
      1305 Ormsby Ln, Louisville, KY 40222
      View Details
    • $1,925,000
      4.16 Acres

      Land with River Frontage

      4.16 acres of land with river frontage in Louisville.
      5209 River Rd, Louisville, KY 40222
      View Details
    • $67,500
      0.10 Acres

      Louisville Land in Lyndon Area

      0.10 acre lot with easy access to amenities.
      1307 Ormsby Ln, Louisville, KY 40222
      View Details
    • $70,000
      0.11 Acres

      Land in Lyndon Area

      0.11 acre lot with easy access to amenities.
      1311 Ormsby Ln, Louisville, KY 40222
      View Details
    • $67,500
      0.13 Acres

      Land in Lyndon Area

      0.13 acre lot with easy access to amenities.
      1303 Ormsby Ln, Louisville, KY 40222
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,095 SF

      Prime Pad Site: Wendy's Location

      Fast-food restaurant; 3,095 sq ft; 0.67 acres
      4955 Brownsboro Rd, Louisville, KY 40222
      View Details
    • Contact for pricing
      29,391 SF

      Westport Village Retail Center

      Prime Louisville retail space, fully vacant.
      1315 Herr Ln, Louisville, KY 40222
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Kroger-Anchored Center

      Retail space available in Kroger-anchored shopping center.
      1215-1261 S Hurstbourne Pkwy, Louisville, KY 40222
      View Details
    • $20 SF/Yr
      100,668 SF

      Hurstbourne Parkway Medical Office Space

      Class A medical office suites available in Lyndon, KY.
      307 Hurstbourne Pkwy, Louisville, KY 40222
      View Details
    • $17 SF/Yr
      45,000 SF

      Williamsburg Plaza Office Space

      Louisville KY Office Building, Suites Available
      9401 Williamsburg Plz, Louisville, KY 40222
      View Details
    • $15 SF/Yr
      4,693 SF

      Office Space Available For Lease

      Office space available for lease, totaling 4,693 square feet.
      1230 South Hurstbourne Pkwy, Louisville, KY 40222
      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.
    7511 Shelbyville Rd
    Norwood, KY 40222-5407
    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

    Google sign-in failed. Please try again or use another login method.