2407 Shelby StLouisville, KY 40217

Property Details for 2407 Shelby St

Year built

1978

Lot size

0.08 AC

Property size (Sq ft)

782 SF

Zone code

C1-COMMERCIAL

Property type

Retail space

APN

09024K00060000

APU

09024K00060000

Description

This 1,020-square-foot retail property, located at 2407 S Shelby St, Louisville, KY 40217, is offered at $205,000 ($215.69/sq ft). Currently leased to a well-established dog groomer, the tenant is in year 4 of a 4-year lease with a renewal option, paying $1,600 monthly. The property boasts a 7.90% cap rate, making it an attractive investment opportunity. Situated near the intersection of Eastern Parkway and S. Shelby Street in the Germantown community, this location benefits from high visibility and traffic. The property is zoned C-1 - Commercial District (APN: 024K00060000) and features a grease trap, a remnant from its previous use as a Domino's Pizza. Sale terms include cash to seller and purchase money mortgage options. This property presents a strong investment in a growing area with a stable, long-term tenant. The building's history as a restaurant and current use as a dog grooming business demonstrate its versatility and adaptability to various commercial uses.

• CAP approach

  CAP return

  Valuation

  6%

  $177,541

  6.5%

  $163,884

  7%

  $152,178

• Comparable approach

  Method

  Valuation

  Relative Method

  $169,633

  Geo Method

  $169,633

• Alternative Use

  Use

  Valuation

  Residential

  $138,242

  Hospitality

  $126,629

  Educational

  $105,354

  Medical

  $108,977

  Retail

  $163,884

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2139

Longitude

-85.7417

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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