54 GOVERNORS WAY
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Location
54 GOVERNORS WAY
Mblu
U07/ 004/ C/ /
Acct#
378
Owner
VTR THE HIGHLANDS LLC
Total Market Value
$5,631,600
PID
378
Building Count
2
Current Value
Assessment
Valuation YearImprovementsLandTotal
2025$5,388,500$243,100$5,631,600

Owner of Record
OwnerVTR THE HIGHLANDS LLC
Co-Owner
AddressC/O VENTAS INC
500 N HURSTBOURNE PKWY STE 200
LOUISVILLE, KY 40222-5392
Sale Price$5,376,000
Certificate
Book & Page 2025R/0012
Sale Date02/01/2025
Instrument1B

Ownership History
Ownership History
OwnerSale PriceCertificateBook & PageInstrumentSale Date
VTR THE HIGHLANDS LLC$5,376,000 2025R/00121B02/01/2025
CPF CADIGAN LODGE PROPCO LLC$12,906,000 2015R/12940002/27/2015
THE HIGHLANDS LLC$0 3260/01031F01/05/2011
HIGHLANDS LLC$0 1380/02051N11/09/1995

Building Information
Building 1 : Section 1
Year Built: 1996
Living Area: 33,427
Replacement Cost
Less Depreciation:
$3,875,600
Building Attributes
FieldDescription
Style:Assisted Living
ModelCommercial
GradeAverage +20
Stories:2
Occupancy45.00
Exterior Wall 1Clapboard
Exterior Wall 2 
Roof StructureGable/Hip
Roof CoverAsph/F Gls/Cmp
Interior Wall 1Drywall
Interior Wall 2 
Interior Floor 1Carpet
Interior Floor 2Inlain/Lino
Heating FuelGas
Heating TypeHot Water
AC TypeCentral
Bldg UseASSIST LIVING
Total Rooms 
Total Bedrms 
Total Baths 
1st Floor Use: 
Heat/ACHeat/Ac Pkg
Frame TypeWood
Baths/PlumbingAbove Average
Ceiling/WallCeil and Walls
Rooms/PrtnsExtensive
Wall Height8.00
% Comn Wall 
Building Photo Building Photo
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
FUSUpper Story, Finished 16,845 16,845
BASFirst Floor 16,582 16,582
CANCanopy 576 0
FOPPorch, Open, Finished 1,959 0
SLBSlab 9,314 0
UBMBasement, Unfinished 6,991 0
   52,267 33,427
Building 2 : Section 1
Year Built: 2012
Living Area: 10,809
Replacement Cost
Less Depreciation:
$1,488,300
Building Attributes : Bldg 2 of 2
FieldDescription
Style:Assisted Living
ModelCommercial
GradeAverage +20
Stories:1
Occupancy15.00
Exterior Wall 1Clapboard
Exterior Wall 2 
Roof StructureGable/Hip
Roof CoverAsph/F Gls/Cmp
Interior Wall 1Drywall
Interior Wall 2 
Interior Floor 1Carpet
Interior Floor 2 
Heating FuelGas
Heating TypeForced Air-Duc
AC TypeCentral
Bldg UseASSIST LIVING
Total Rooms36
Total Bedrms15
Total Baths17
1st Floor Use: 
Heat/ACHeat/Ac Pkg
Frame TypeWood
Baths/PlumbingAbove Average
Ceiling/WallCeil and Walls
Rooms/PrtnsAbove Average
Wall Height8.00
% Comn Wall 
Building Photo Building Photo
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
BASFirst Floor 10,809 10,809
FOPPorch, Open, Finished 268 0
SLBSlab 10,809 0
   21,886 10,809

Extra Features
Extra Features

No Data for Extra Features


Land
Land Use
Use Code3041
DescriptionASSIST LIVING  
Alt Land ApprNo
Category
Land Line Valuation
Size (Acres)2.91
Depth
Total Market Land$243,100

Outbuildings
Outbuildings
CodeDescriptionSub CodeSub DescriptionSizeAssessed ValueBldg #
PAT1PATIO-AVG  1755.00 S.F.$14,0002
PAV1PAVING-ASPHALT  8400.00 S.F.$8,4001
LT1LIGHTS-IN W/PL  3.00 UNITS$1,2001
SHD1SHED FRAME  24.00 S.F.$2002
LT2W/DOUBLE LIGHT  1.00 UNITS$8001
Valuation History
Assessment
Valuation YearImprovementsLandTotal
2025$5,388,500$243,100$5,631,600
2024$5,694,500$226,400$5,920,900
2023$5,980,000$215,900$6,195,900
2022$5,980,000$208,300$6,188,300
2021$5,980,000$191,700$6,171,700

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