Storage sheds and a C2 Zoned 2 Story Building

Retail-Commercial for Sale
Catylist Listing ID: 29926075
Property Subtypes: Free-Standing Building, Other
Building Size (RSF): 3,078 SF
Gross Land Area: 0.31 Acres
Sale Price: $350,000
Unit Price: $113.71 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/21/2017

Overview / Comments

Seller has raised the price to reflect the amount of income this property is producing almost $3500 a month. All but 3 storage units are leased almost at full capacity!!!!!!!!! GARAGE DOORS HAVE BEEN INSTALLED!!!!!!!!! Upstairs apartment is leased for $500 a month, first floor is rented for $1000 a month!!!!! Both tenants pay LG&E Owner pays the water bill. Great Opportunity C2 Zoned 2 story building over 3000 sq ft on first 2 levels and approx 1,025 sq ft in unfinished basement and 2 storage buildings that consist of 23 rental units. The 2 story building has been many different businesses from a liquor store, to a pawn shop, to a cash advance, currently a purse shop. There is a drive through window and multiple doors to section off the building and rent smaller units. Also the upstairs was once used as sleeping rooms and an apartment it has been converted back to a 4 bedroom apartment with an updated bath, new flooring, fresh paint, and a new kitchen and is currently rented for $500 a month(month to month lease). When leased there are 16 10 X 25 units that rent for $115 a month and 7 10 X 10 units that rent for $75 a month potential rental income for these units totals $2300 a month (many units are rented the # changes constantly). Owner just installed all new doors see the pictures. Also the Owner has installed fencing. There are so many possibilities with this property also all 3 buildings have new roofs installed 1 year ago. Everything has been painted inside and out. GREAT OPPUTUNITY, INCOME PRODUCING!!!!!!!!!!!!!

Financials

Finance Data Year 2015
Potential Rental Income $4,200 (Annual)
Finance Data Year 2014
Real Estate Taxes - Annual($) $4,664 (Annual)
Tax Value Land $109,220
Tax Value Improvements $243,040
Assessed Value - Total($) $352,260 (Annual)
Potential Rental Income $6,000 (Annual)

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 063N01310000
Zoning: C-2 - Commercial District
Market Type: Large
Retail Clientele: General, Business, Other
Property Located Between: 7th Street and Wathen
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Wathen
Transportation: Bus, Taxi
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Good
Year Built: 1948
Year Renovated: 2014
Roof Type: Arched
Construction/Siding: Block
Exterior Description: All 2 buildings have been painted and all 3 buildings have new roofs.
Total Parking Spaces: 6
Parking Type: Surface
Parking Description: Parking in rear of building and along side of building if you need a larger parking lot and don't want the storage sheds you can remove them and have larger parking. There is also an additional lot outside the fenced area that is included in this purchase it is a triangular shaped grass lot. Seller has not had a survey done however neighbor has and he said the opening of the gate in rear ingresses egresses on his lot gate may have to be moved but current owner said he believed it to be an easement a survey would determine the right of way access.
Heat Source: Central
Interior Description: First floor has central air and gas heat. 2nd floor has heat only furnace is gas and has just been installed. Basement does leak on heavy rain the rain comes through the basement door basement has interior entrance and exterior entrance.
Zoning Description: C2
Easements: Utilities
Easements Description: Front sidewalk and entrance to driveway is an easement for utilities

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,190 143,854 279,208
Median Age: 34.77 35.45 36.5
Households: 7,640 61,304 119,105

Contact

Photograph of Listing Agent

Heather L Allen

Genesis Realty LLC KCREA Member

Source

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