Cape Rate of 6.3%

[Shamere Grant]

1700 Berry Blvd, Louisville, KY, 40215

Name of Business: Express Tires

This property has been a tire shop since 2007 and is a currently in a 3 year lease that was signed in May 2016. The first 18 months the lease is $2,500 and the other 18 months are $2,800 a month.

The tenant pays Electric, gas and water. Cleaning the parking lots from snow and landscaping is also covered by tenant.

The building is 2500 Sq ft.

Being lots 17, 18, 19, 20, 21, and 22, Jacobs Addition, play of which is recorded in deed book 403 page 590

All lots are tax appraised at $400,000

Cap rate= .63%

Can provide any documentation that is necessary. Pictures will be coming soon and I can send the to a personal email as well. 

[Michael Seeker]

@Shamere Grant - you might want to double check your Cap Rate calculation.  I'm guessing you meant "6.3%" and not ".63%".  While 6.3% is a little light for the Louisville market, .63% can't be correct as nobody in their right mind would consider.