Seller Motivated! 9.50 CAP Rate Nice Investment property!!!

Retail-Commercial for Sale
Catylist Listing ID: 30259011
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Vehicle Related, Other
Building Size (RSF): 3,000 SF
Gross Land Area: 0.26 Acres
Sale Price: $199,000
Unit Price: $66.33 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: 9.25%
Last Updated: 1/17/2019

Overview / Comments

100% occupied! Nice revenue producing property, or perfect for an owner user! $2200 in gross rental income monthly. The property includes two buildings, a ground floor retail/restaurant space, (just leased), generating $1200/month, and there’s a two BR-1 Bath apartment above, perfect for additional rental income or mixed use. The apartment currently generates $400/month, and there is a separate garage on site that is leased at $600/month. 2951 7th Street Rd., has great visibility and is located across from 7th Street from Derby Park, (RV Parking and Campground)! If you are an owner/user, looking for a nice location for a restaurant or retail opportunity, this is it, and you can let your tenants help pay the bills! If you are an investor, just sit back and collect the rent!!!

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 064G00570000
Zoning: C-1 - Commercial District
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Oleanda Avenue and Berry Blvd
Property Visibility: Excellent
Largest Nearby Street: 7th Street Rd
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 15
Property Condition: Fair
Roof Type: Flat
Construction/Siding: Other
Exterior Description: Block and Vinyl Building w/ garage and great visibility from 7th street.
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Building 1 has retail storefront, also equipped for restaurant, 2nd floor has 2 bedrooms, 1 bath apartment. Building 2 is leased for storage.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,644 141,352 276,511
Median Age: 34.71 35.56 36.35
Households: 6,516 59,980 117,402
The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.