11807 Brinley Avenue, Louisville, KY 40243 - office property

Detailed information about office property which situated in Louisville (40243) city, Kentucky state on 11807 Brinley Avenue.
Property is located in Middletown which is a upscale suburb about 10 miles East of Downtown Louisville.

Additional Information: The two (2) story brick building has 3,840 SF on each floor with a full basement. It is located in a small office park with a total of twelve (12) buildings. The Tenant is a regional Actuarial Company that has been a tenant since October 1, 2003. The building was renovated in 2009 for the present tenant. Tenant spent $40,000 of their own funds to update their conmputer room. The property is in very good condition with no deferred maintenance issues. The property is presently 100% leased with an extension of the lease under negotiation at this time. The last year of the present lease expires on September 31, 2013. The seller and the tenant are presently negotiating a new five year lease that would start 10/1/2013 with two five year options. We know that the CAP RATE will be at least 10.58% or greater. We should have the lease completed by December 1, 2012. The building is connected by a management agreement with two other buildings next door. Therefore, management is in place.