Full-Service Car Wash
For Sale
$1,000,000
1309 Berry Blvd., Louisville, KY 40215
Established automotive service business with on-site office, checkout, vending, and retail areas.
Property Size4,387 SF
Price / SF$227.95
Days on Market164
Property Features for 1309 Berry Blvd.
General Information
Standard status
Active
Size
4,387 SF
Property subtype
Retail
Zoning
C2
Additional Details
Business Included
Yes
Traffic Count
25,000 vehicles/day
Amenities
office space
checkout counter
Power
Water
Sewer
Natural Gas
Drive-Thru
Building Details
Year Built
1964
Abandoned
No
Listing Agency:
Gant Hill & Associates, LLC
(502) 515-4455
Listed By:
Gant Hill · License #45425
(502) 515-4455
Source:
Kcrea.resimplifi
Added: Mar 20
Changed: Aug 30
Last Checked: Aug 30 at 1:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gant Hill & Associates, LLC
Investment Insights
Based on property information with market context.
This full-service car wash business includes the underlying real estate and operates from a 4,387-square-foot property built in 1964. The operation provides both exterior and interior vehicle cleaning, with existing management and staff in place. On-site improvements include an office, checkout counter, vending, and retail space. The property is zoned C2.
Located at the intersection of Berry Blvd and Taylor Blvd in Louisville, the site records an average daily traffic count of 25,000 cars. The operating business has served the location for decades and is being offered following the owner’s retirement. The real estate and established operating platform provide a combined automotive-service offering.
Located at the intersection of Berry Blvd and Taylor Blvd in Louisville, the site records an average daily traffic count of 25,000 cars. The operating business has served the location for decades and is being offered following the owner’s retirement. The real estate and established operating platform provide a combined automotive-service offering.
Key Highlights
- 4,387‑square‑foot car wash property built in 1964
- Full‑service operation providing exterior and interior vehicle cleaning
- Average daily traffic count of 25,000 cars
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,651
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,233,020
$1.2M
Cap Rate 7%
$880,729
$880.7K
Cap Rate 9%
$685,011
$685.0K
Market Conditions
NOI Build-Up for 4,387 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.9K $20.04/SF
− Vacancy
−$5.7K −$1.30/SF
EGI
$82.2K $18.74/SF
− OpEx
−$20.6K −$4.68/SF
NOI
$61.7K $14.05/SF
Area
Louisville, KY
Vacancy
6.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,233,020
Cap Rate 7%
$880,729
Cap Rate 9%
$685,011
Alternative Uses
Best Use
Specialty Retail
$880.7K
$770.6K – $1.03M
NOI $61,651 @ 7.0% cap · market cap 6.17%
Second Best
Retail
$722.5K
$632.2K – $843.0K
NOI $50,578 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.14M
$995.0K – $1.33M
NOI $79,598 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 17%
Home Improvements & Furnishings 16%
Groceries 12%
McDonald's
Dining
12,261 visits/mo
0.3 miles
Ace Hardware
Home Improvements & Furnishings
9,023 visits/mo
0.3 miles
Wendy's
Dining
8,330 visits/mo
0.2 miles
Dollar General Market
Groceries
6,730 visits/mo
0.1 miles
Rally's
Dining
5,098 visits/mo
0.1 miles
Demographics for 40215, KY
21,230
Population
9,070
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
79%
High-School Grad
3.5 sq mi
ZIP Area
6,066
Density / Sq Mi
$42,762
Median Household Income
$32,815
Median Earnings
$976
Median Rent
$106,500
Median Home Value
Market
Vacancy Rate% for Retail in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Established automotive service business with on-site office, checkout, vending, and retail areas.
Where is this car wash located?
The property is located at 1309 Berry Blvd. Louisville, KY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 4,387‑square‑foot car wash property built in 1964; Full‑service operation providing exterior and interior vehicle cleaning; Average daily traffic count of 25,000 cars
