Building Details

Year Built 2017

Listing Agency: BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors

Listed By: Michael Reetz · License #264934 Show Phone

Source: Kcrea.resimplifi

Added: Jan 9 Changed: Sep 10 Last Checked: Oct 9 at 4:24PM

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Investment Insights

Based on property information with market context.

The property, constructed in 2017, presents an investment opportunity with two tenants. Pizza Hut occupies a portion of the building under a lease initiated in 2017 with 9.5 years remaining and includes four 5-year renewal options. The Academy Of Excellence is a new tenant with a 5-year lease extending through 2031, which includes two 3-year renewal options. The property is 100% occupied. The building contains 7,111 square feet.

Key Highlights

• 100% Occupied Commercial Property
• Pizza Hut Lease with 9.5 Years Remaining and Renewal Options
• New Tenant: The Academy Of Excellence with a Lease Through 2031 and Renewal Options

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$102,270

Cap Rate

6.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,045,400 $2.0M

Cap Rate 7%

$1,461,000 $1.5M

Cap Rate 9%

$1,136,333 $1.1M

Market Conditions

NOI Build-Up for 7,111 SF

Gross rent

$145.1K $20.40/SF

− Vacancy

−$8.7K −$1.22/SF

EGI

$136.4K $19.18/SF

− OpEx

−$34.1K −$4.79/SF

NOI

$102.3K $14.38/SF

Area

ZIP 40216

Vacancy

6.00%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,045,400

Cap Rate 7%

$1,461,000

Cap Rate 9%

$1,136,333

Alternative Uses

Best Use

Specialty Retail

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,270 @ 7.0% cap · market cap 6.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.82M

$1.60M – $2.13M (±1% cap)

NOI $127,657 @ 7.0% cap · market cap 8.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Restaurant Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

713

Businesses Nearby

146k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 51% Dining 34% Apparel 7% Home Improvements & Furnishings 5%

Speedway Shops & Services

15,711 visits/mo 0.2 miles

Dollar Tree Shops & Services

14,914 visits/mo 0.2 miles

White Castle Dining

12,458 visits/mo 0.2 miles

Burger King Dining

11,984 visits/mo 0.2 miles

Krispy Kreme Doughnuts Dining

11,885 visits/mo 0.2 miles

Demographics for 40216, KY

43,434

Population

19,257

Households

2.3

Avg Household Size

40

Median Age

14%

College-Educated

87%

High-School Grad

15.7 sq mi

ZIP Area

2,766

Density / Sq Mi

$50,211

Median Household Income

$35,503

Median Earnings

$883

Median Rent

$154,500

Median Home Value

Market

Vacancy Rate% for Retail in Louisville, KY

5.4% 2019

5.4% 2020

4.7% 2021

4.8% 2022

5.1% 2023

4.2% 2024

4.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Fully leased commercial property with long-term tenants.

Where is this conventional restaurant located?

The property is located at 3805 7th Street Rd Louisville, KY.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 100% Occupied Commercial Property; Pizza Hut Lease with 9.5 Years Remaining and Renewal Options; New Tenant: The Academy Of Excellence with a Lease Through 2031 and Renewal Options