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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Office buildings
922 Franklin St Louisville, KY 40206-1614
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US34-0043211
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Total area
6,394 SF
Lot
0.24 ac (10,324 SF)
Zoning code
R6-RESIDENTIAL MULTI-FAMI
APN
04019G01050000
UPID
US34-0043211
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
-
Hessig Law Law Firm
-
Martin Pohl Law Firm
-
University Radiology Associates Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$473k
Blend (final)
Blend
$655k
Owner & transaction history
Shaw Real Properties LLC · 1 yrs held
Shaw Real Properties LLC
since 2025
Last sale
$765,000
6 recorded transactions
Zoning & alternative use
R6-RESIDENTIAL MULTI-FAMI · Louisville, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$815,000
+27.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$640,000
Current use
RETAIL STORES
$815,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $765k (Nov 21 2024)
Last sale anchor
$765k
Nov 21 2024
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
$102 / 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
$7,205
Tax year 2023
Assessed value
$536,850
Assessed 2023
Previous assessed
$536,850
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$88,000
Assessed improvement
$448,850
Land market value
$88,000
Improvement market value
$448,850
Total market value
$536,850
Applied tax rate
23.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1900
Heating
YES
Cooling
YES
Stories
2
Total area
6,394 SF
Lot
0.24 ac (10,324 SF)
Zoning code
R6-RESIDENTIAL MULTI-FAMI
APN
04019G01050000
UPID
US34-0043211
Jurisdiction
JEFFERSON
Zoning & alternative use
R6-RESIDENTIAL MULTI-FAMI · Louisville, KY
Zoning R6-RESIDENTIAL MULTI-FAMI · permitted uses
R6-RESIDENTIAL MULTI-FAMI · 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
OFFICE BUILDING Current
Est. value
$640,000
RETAIL STORES
Est. value
$815,000
OFFICE BUILDING Current
RETAIL STORES
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
1900
Heating
YES
Cooling
Yes
Stories
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Shaw Real Properties LLC
Entity
Mailing address
922 FRANKLIN ST, LOUISVILLE, KY 40206-1614
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2025
$765,000
Shaw Real Properties LLC
Hp Investments LLC
Warranty Deed
$650,250 · Stock Yards Bank & Trust Co
Sep 7, 2017
—
Hp Investments LLC
—
Deed
related
$630,000 · Republic Bk&tr
Jan 9, 2017
$535,000
Hp Investments LLC
Franklin Grp
Grant Deed
—
—
—
Franklin Grp
—
Deed Of Trust
related
$242,000 · Pnc Bk
—
—
Franklin Group LLC
—
Deed Of Trust
related
$266,000 · Pnc Bank
—
—
Hp Investments LLC
—
Deed Of Trust
related
$630,000 · Republic Bk&tr
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.
Try Rey
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