Auction has been cancelled. Sold Prior to auction.

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30704691
Property Subtypes: Free-Standing Building, Restaurant
Status: Pending
Building Size (RSF): 6,485 SF
Gross Building Area: See Agent
Gross Land Area: 0.24 Acres
Sale Price: $375,000
Unit Price: $57.83 PSF
Property Use Type: Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Up For Auction: Yes
Auction Type: Disclosed Reserve
Auction Reserve Amount: 375,000
Auction License Number: P851
Cap Rate: Undisclosed
Last Updated: 3/4/2021

Overview / Comments

We are pleased to announce that the sellers have accepted an offer prior to the auction therefore, the auction has been cancelled.

(recently listed for $825,000, sells to the high bidder at or above $375,000 bid)
Bidding will close on Wednesday March 17, 2021, 4:00pm
www.bidkentucky.com
ICONIC WORLD-RENOWNED RESTAURANT!

A very successful world-renowned restaurant in a small historic town inclusive of many antique and gift shops. This restaurant is a destination restaurant with guests coming from all over the country and around the world.

The restaurant seats 85 and has additional seating capacity for 85 more in the upstairs dining room used for private parties and special events. The restaurant specializes in delicious fresh Southern food made from scratch using recipes handed down from family and friends. The restaurant has a unique southern charm appearance, most of the booths and seating areas and lights were hand made. The restaurant includes a gift shop, which is a traditional log cabin, moved to the site and rebuilt to fit next to the restaurant. Since this is a destination location, the majority of customers come from out of town, out of state as well as internationally. The restaurant has been frequently written up in many local, state and national magazines such as Southern Living Magazine. It also won Best Desserts in Kentucky and been voted Best Non-Franchise Restaurant in Kentucky since 2010.

Business and real estate are being sold together and will include all furniture, fixtures, food preparation equipment, historical decorations and some inventory. The owners are retiring, however, they will stay for a limited period of time to assist the new owners with the transition. An investor could buy the building and lease it back to the business which has historically generated between $1.2 and $1.5 million in annual gross sales with net operating income in the range of 10% of gross sales (with the exception of Covid-19 government mandated shutdowns and restrictions during 2020). This great business has achieved these superior results only operating 4-5 days/week over the years and without any alcohol sales.

Restaurant operating financial information is available by request and the completion of a confidentially agreement.

The Whistle Stop is only an hour away from Louisville, KY and considered one of the top destination restaurants on the I-65 corridor.

Features:
• 6485 sq.ft. Historic Building
• Zoned B-2
• 2 Commercial Kitchens
• 4 Restrooms
• Mechanicals less than 6 years old
• Grease Trap less than 1 year old
• City Sewers
• All equipment to remain with the real estate
• Catering Option

Owner's Note: Over 20 years ago we fell in love with The Whistle Stop and Glendale. When we took it over in 2005, it was a dream come true working together serving foods and desserts made from family and friend’s recipes. We have had over 16 wonderful years owning and working here. It was such an honor every time we won an award or were written about in various magazines books (especially Southern Living 3 times!). Over the years we have had all our kids and some of our grandchildren work with us. We have had amazing employees; many we grew to love and became like our extended family. There are a number of customers that have been such a blessing and joy to us, some becoming valued friends. Many incredibly special and treasured memories. We have looked forward to spending a lot more time with our growing family- our 10th grandchild is on the way! We also want to do some traveling and other activities we have talked about. This has not been an easy decision for us at all, but it is now time for us to retire and pass The Whistle Stop legacy on to someone else ready and excited to take it over.

Open House: Open House sign up required for 03/06/21 10am-2:00pm
Open House sign up required for 03/013/21 10am-2:00pm

Pre-auction offers will be considered.

Additional Details

Nearest MSA: Elizabethtown-Fort Knox
County: Hardin
Tax ID/APN: 190-30-01-011
Zoning: B-2
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Good
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,577 1,577 9,049
Median Age: 38.75 38.75 36.67
Households: 572 572 3,173

Contact

Photograph of Listing Agent

Julie Bex

RE/MAX 100 KCREA Member
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