Beautifully Renovated Mixed Use Property with AirBnb Units

Office for Sale
Also listed as Multi-Family, Retail-Commercial
Catylist Listing ID: 30842818
Property Subtypes: Coworking, Mixed Use, Office Building
Building Size (RSF): 9,191 SF
Gross Building Area: See Agent
Gross Land Area: 0.29 Acres
Sale Price: $1,240,000
Unit Price: $134.91 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/9/2024

Overview / Comments

We are pleased to present for purchase this newly renovated mixed-use property located in Old Louisville.

This 3-story building features over 5,000 SF of furnished office space on the first floor with 4 large apartments on the 2nd & 3rd floors.

As you walk through the property, you're immediately enthralled by its unique character.

The owner has done a great job of incorporating modern touches while retaining characteristics such as stained glass windows, antique door knobs, handrails, etc. that were commonplace in properties built in the beginning of the 1900th century.

The upstairs apartments are currently being operated as extended stay rentals and are regularly booked up in advance.

The units are broken down as follows:

Unit #1 - Large 2 bed 2 bath
Unit #2 - 1 bed 1 bath
Unit #3 - 1 bed 1 bath
Unit #4 - 1 bed 1 bath

The average revenue generated via Airbnb is roughly $5,000 per month.

The owner is willing to transfer his AirBnb account with "Super Host" status to the eventual buyer.

There is ample parking in the rear for both guests and potential employees working out of the downstairs office space.

A potential buyer could operate their business downstairs and leverage the income generated from the upstairs apartments to cover their monthly mortgage expense.

Investors could continue to operate the upstairs apartments as monthly short-term rentals and lease the downstairs office space to a qualified tenant for stable & long-term cash flow.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 030J00450000
Zoning: TNZD - Traditional Neighborhood Zoning District
Airports: Muhammed Ali International Airport
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1900
Year Renovated: 2019
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Parking is located at the rear of the property. Parking is plentiful.
Heat Type: Electricity, Natural Gas
Heat Source: Baseboard, Central
Air Conditioning: Engineered System
Zoning Description: TNZD - Commercial
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,326 142,654 316,607
Median Age: 34.22 35.43 36.72
Households: 12,316 62,128 135,982
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