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

    9720 Park Plz Ave Louisville, KY 40241-2288

    • Office Properties & Spaces
    • 5,133 SF
    • 75.73 lot acres
    OFF-MARKET
    Value Estimations
    $880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0314968
    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

    • Kidney Care Consultants / Medical Clinic
    • Brian Briscoe, M.D. / Physician
    • Next Step 2 Mental Health / Medical Clinic
    • Eisenmenger Family Law / Law Firm / Child Welfare Organization
    • Everside Health, Louisville KY - Park Plaza Ave. / Medical Clinic

    Property Details for 9720 Park Plz Ave

    Year built
    2008
    Lot size
    75.73 lot acres
    Property size
    5,133 SF
    Property type
    Office Properties & Spaces
    APN
    21360732023205
    APU
    21360732023205

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,180,000
      6.5%
      $1,090,000
      7%
      $1,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $660,000
      Market price range: $410k - $862k
      AI Estimate
      $888,000
      Market price range: $484k - $1.12M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $600,000
      Current use
      RESTAURANT
      $1,130,000
      Change: +89% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $985,000
      Change: +64% Conversion: Difficult
      RETAIL STORES
      $655,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.5795
    Latitude
    38.3091
    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
    $9,154
    $0.00
    $790,480
    $790,480
    -
    $0.00
    $790,480
    $790,480

    Comparable in this City

    • Value Estimation by Request
      1,057 SF

      3801 Springhurst Blvd Ste, Unit 203

      CONDOMINIUM OFFICES • 1,057 SF
      3801 Springhurst Blvd Ste, Louisville, KY 40241-6139
      View Details
    • Value Estimation by Request
      1,215 SF

      9710 Park Plz Ave, Unit 205

      CONDOMINIUM OFFICES • 1,215 SF
      9710 Park Plz Ave, Louisville, KY 40241-2293
      View Details
    • Value Estimation
      $750,000
      3,654 SF

      9710 Park Plz Ave, Unit 101

      CONDOMINIUM OFFICES • 3,654 SF
      9710 Park Plz Ave, Louisville, KY 40241-2292
      View Details
    • Value Estimation by Request
      1,209 SF

      9720 Park Plz Ave, Unit 103

      CONDOMINIUM OFFICES • 1,209 SF
      9720 Park Plz Ave, Louisville, KY 40241-2289
      View Details
    • Value Estimation by Request
      1,234 SF

      9710 Park Plz Ave, Unit 109

      CONDOMINIUM OFFICES • 1,234 SF
      9710 Park Plz Ave, Louisville, KY 40241-2292
      View Details
    • Value Estimation by Request
      1,078 SF

      3801 Springhurst Blvd Ste, Unit 202

      CONDOMINIUM OFFICES • 1,078 SF
      3801 Springhurst Blvd Ste, Louisville, KY 40241-6139
      View Details

    Similar Nearby for Sale

    • $2,632,500
      2.70 Acres

      Louisville Commercial Land - 2.7 Acres

      Prime location, high traffic, mixed-use zoning.
      4802 Olympia Park Plz, Louisville, KY 40241
      View Details
    • $2,500,000
      0.49 Acres

      Louisville Zaxby's Net Lease

      High-yield Zaxby's ground lease, Kentucky.
      9903 Brownsboro Rd, Louisville, KY 40241
      View Details

    Similar Nearby for Lease

    • $61 SF/Yr
      15,000 SF

      Louisville Executive Office Suites

      Prestigious KY Office Space, Flexible Terms
      9850 Von Allmen Ct, Louisville, KY 40241
      View Details
    • $7 SF/Yr
      361,900 SF

      Jefferson Trade Center: 8-Building Complex

      Prime Industrial Space Available; High Visibility
      3600 Chamberlain Ln, Louisville, KY 40241
      View Details
    • Contact for pricing
      7,000 SF

      Retail Space in Paddock Shops

      Retail and dining destination in Louisville and southern Indiana.
      4200-4292 Summit Plaza Dr, Louisville, KY 40241
      View Details
    • Contact for pricing
      2,576 SF

      Louisville Open Air Lifestyle Center

      Retail and dining destination in Louisville and southern Indiana.
      4138-4164 Summit Plaza Dr, Louisville, KY 40241
      View Details
    • $24 SF/Yr
      64,581 SF

      Springhurst Crossings Retail Center

      Louisville, KY: Prime Retail Space Available
      3600 Springhurst Blvd, Louisville, KY 40241
      View Details
    • Contact for pricing
      444,503 SF

      Springhurst Towne Center Retail

      Prime Louisville Retail Space Available
      10508 Fischer Park Dr, Louisville, KY 40241
      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.
    9720 Park Plz Ave
    Louisville, KY 40241-2288
    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.