Convenience Store, Free-Standing Building, Restaurant, Street Retail
Building Size (RSF):
4,980 SF
Sale Price:
$600,000
Unit Price:
$120.48 PSF
Property Use Type:
Vacant/Owner-User, Business
Building Name:
Garretts General Grocery Store
Sale Terms:
Cash to Seller
Cap Rate:
Undisclosed
Last Updated:
4/30/2024
Overview / Comments
Purchase Requires the purchase of the Real Estate, Business and Equipment and also the Package Liquor License. Its an all or none purchase. Rare and very unique opportunity in Downtown Utica, which is a Township within the City of Jeffersonville. Don't miss your chance to purchase this property. Email or call for your (NDA) Non-Disclosure Agreement, which is required to receive financials. Once you complete the NDA and return it to me, I will send the Seller provided information as to Seller owned equipment, furnishings, inventory, cold units and more as per the listed items. Offer can be contingent upon verification of information. Real Estate is a separate transaction from the business and "NO COMMISSION" is to be paid on the business acquisition or the package liquor license. Seller has estimated the value of the business at $250,000 and the package liquor license is a value of $103,000. Not only does it operate as a general store, but there is also a hood and other restaurant equipment, a deck for outdoor atmosphere. There is an ice cream shop that is a separate building and is also included as part of the real estate while the equipment is listed with business side. You also have a 900 SF shelter structure that makes for a great customer atmosphere. This is truly a "Rivertown Setting". Call me for Appt.
Also just a note, the Seller owns the adjoining property at 110 S 4th St, plus the parcel on Locust St and is willing to sell it too. It has a 2100sf bldg which has an 1100sf apartment and 1000sf of office/retail space. Asking price for additional property is $650,000.
A couple of minutes takes you to I-265 which is right at the East End Bridge. I-265 is the Southern Indiana link to all things Interstate. I-65, I-64 and you can use any of the five bridges that connects Indiana to Louisville Kentucky.
Airports:
Louisville International, Clark County Regional Airports
Site Description:
Packaged setting in Downtown Utica, which is a river town within the City of Jeffersonville. Interconnected buildings which could be separated for use if desired. Shelter adds to customer interest to enjoy outdoor seating or go to the side deck. The ice cream store also is a draw for a neighborhood getaway for a quick treat to eat. All of the current businesses could be expanded on to offer more options food and beverage wise.
Area Description:
Downtown Utica is a river town experiencing growth especially since the East End Bridge was announced. In the immediate vicinity there have been subdivisions with housing at $350,000 to over a million. There are apartments underway and more to come at the edge of the town. There is a community center, the Town Hall and the grocery store offered here is central to the convenience of all people who live in the area.
Total Number of Buildings:
4
Number of Stories:
1
Property Condition:
Excellent
Construction/Siding:
Block, Brick, Wood Frame
Exterior Description:
Various materials but mainly block and chipped block
Parking Type:
Surface
Parking Description:
Property has employee parking and the front lot offers several store front spaces and more on the side for plenty of customers.
Interior Description:
General store is typical of small town offerings and gives the feeling of a good place to grab the essential items, lunch and an ice cream to go.
Zoning Description:
B-1 GENERAL RETAIL, RESTAURANT, OFFICE, DAYCARES- Div. 35-10 Specific Purpose is defined as The purpose of this district is to provide “neighborhood” certain retail goods and services for the convenience of residents living near the business. Uses that provide non-durable goods and limited personal services are considered by this zoning ordinance as “neighborhood commercial uses” appropriate in the B-1 district. The B-l business district is intended to provide for professional office uses, personal service uses, and retail service uses which dispense convenience goods and services directly to consumers on the premises. Although limited in the area occupied, these districts are important to the economic welfare of the community by placing convenience goods close to the resident.
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