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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Retail space
8323 Preston Hwy Louisville, KY 40219-5309
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US34-0231602
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1972
Total area
12,108 SF
Lot
2.88 ac (125,235 SF)
Zoning code
C1-COMMERCIAL
APN
23065104550000
UPID
US34-0231602
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
-
Scheller's Fitness & Cycling - Okolona (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.15M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.71M
Owner & transaction history
Gjs Real Estate LLC · 19 yrs held
Gjs Real Estate LLC
since 2007
1 recorded transaction
Zoning & alternative use
C1-COMMERCIAL · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.7M
+123.2%
Auto repair, garage
$2.3M
+93.9%
Office building
$1.4M
+17.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,325,000
6.5%
$2,150,000
7%
$1,995,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,195,000
Current use
RESTAURANT
$2,670,000
Change: +123% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,320,000
Change: +94% · Conversion: Difficult
OFFICE BUILDING
$1,410,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±10%
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
$141 / 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
$35,744
Tax year 2023
Assessed value
$3,060,260
Assessed 2023
Previous assessed
$3,060,260
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$751,410
Assessed improvement
$2,308,850
Land market value
$751,410
Improvement market value
$2,308,850
Total market value
$3,060,260
Applied tax rate
6.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1972
Heating
YES
Cooling
NONE
Buildings
3
Stories
1
Total area
12,108 SF
Lot
2.88 ac (125,235 SF)
Zoning code
C1-COMMERCIAL
APN
23065104550000
UPID
US34-0231602
Jurisdiction
JEFFERSON
Zoning & alternative use
C1-COMMERCIAL · Louisville, KY
Zoning C1-COMMERCIAL · permitted uses
C1-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
RETAIL STORES Current
Est. value
$1.2M
RESTAURANT
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1972
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
2.88 ac
Current owner
From public records · entity-resolved
Gjs Real Estate LLC
Entity
Free & Clear · 19 yrs held
Mailing address
709 HOLLINGSWORTH PL, LOUISVILLE, KY 40207-1368
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2007
—
Gjs Real Estate LLC
Schellr Living Trust
Grant Deed
related
—
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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