Entity Owned 
For Sale
Contact for pricing
821 S 2Nd St, Louisville, KY 40203
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Property summary
AI-generated overview
This exceptional Class A office building, located at 821 S 2nd St in Louisville, KY's vibrant downtown business district, presents a unique investment opportunity. The 2,112 square foot, single-story building, constructed in 1963, is currently vacant and offers significant flexibility for a variety of uses. Its adaptable layout includes three dedicated offices (one with a built-in library), a kitchen, a conference room, and a reception area. Existing office furniture, including a front desk and shelving, is available. A large open area in the rear expands the possibilities for customization. The property boasts six or more dedicated parking spaces, plus ample on-street parking. A convenient greenspace adjacent to the parking lot offers potential for expansion. The strategic location near Broadway and the expressway, coupled with its proximity to a university, makes it ideal for various businesses, including catering, chiropractic practices, law offices, daycare centers, or retail ventures. The asking price is $225,000, translating to $106.53 per square foot. This property offers a compelling combination of location, versatility, and potential for high return on investment.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Total area
2,112 SF
Lot
0.13 ac (5,798 SF)
Zoning code
C2-COMMERCIAL
APN
08030C00460000
UPID
US34-0031196
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Law Firm
-
Law Firm
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$185k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$185k
Owner & transaction history
since 2010
1 recorded transaction
Zoning & alternative use
C2-COMMERCIAL · Louisville, KY
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 12 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$185k
Value range
$167k – $204k
±10% around blend
Estimated value / SF
$88 / SF
Confidence
High
12 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
100
$167k
blend $185k
$204k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,112 SF
Lot area
0.13 ac
Year built
1963
Stories
1
APN
08030C00460000
Zoning
C2-COMMERCIAL
Assessed value
$178,170
Annual tax
$2,391
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$271k
Weighted, 12 comps · high confidence
Evidence
12 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.2 mi away · 1,550 SF
2.4 mi away · 1,553 SF
2.4 mi away · 1,553 SF
3.5 mi away · 1,760 SF
5.1 mi away · 1,862 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$185k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 21 sales
$66
+32%
Submarket 548 sales
$116
-25%
County 559 sales
$117
-25%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $88/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 12 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$178k
Move the market yield to see immediate price impact.
Value / SF
$84
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$11k
$225k
$160k
$125k
$12k
$249k
$178k
$139k
$14k
$274k
$196k
$152k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
12 found
High confidence · county-verified
Closest comparable
$110k
2.1 mi · Feb 2026 · $57/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,391
Tax year 2023
Assessed value
$178,170
Assessed 2023
Previous assessed
$150,330
+18.5% YoY
Effective rate
1.34%
On assessed value
Assessed land
$48,360
Assessed improvement
$129,810
Land market value
$48,360
Improvement market value
$129,810
Total market value
$178,170
Applied tax rate
23.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1963
Heating
YES
Cooling
YES
Stories
1
Total area
2,112 SF
Lot
0.13 ac (5,798 SF)
Zoning code
C2-COMMERCIAL
APN
08030C00460000
UPID
US34-0031196
Jurisdiction
JEFFERSON
Zoning & alternative use
C2-COMMERCIAL · Louisville, KYZoning C2-COMMERCIAL · permitted uses
C2-COMMERCIAL · Louisville, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1963
Heating
YES
Cooling
Yes
Stories
1
Lot
0.13 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C2-COMMERCIAL
Jurisdiction
Louisville, KY
Recorded code
C2-COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C2-COMMERCIAL in Louisville, KY.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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