Rare Biz & Real Estate Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30848716
Property Subtypes: Convenience Store, Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 4,980 SF
Sale Price: $550,000
Unit Price: $110.44 PSF
Property Use Type: Vacant/Owner-User, Business
Building Name: Garretts General Grocery Store
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/23/2023

Overview / Comments

PURCHASE REQUIRES PURCHASE OF BOTH THE REAL ESTATE AND BUSINESS AS A PACKAGE. 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 and business. Seller requires submission of a Purchase Agreement for the Real Estate. Once an agreed price is met, Buyer then submits a Purchase Offer for the business and both can be contingent upon review of the Seller provided financials and the Buyers inspections and due diligence of the Real Estate. The Business includes Seller owned equipment, furnishings, inventory, cold units and more per the listed items. Real Estate is a separate transaction from the business and "NO COMMISSION" is to be paid on the business acquisition, which is required with the purchase of the property. Seller has estimated the value of the business at $250,000. 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 more great customer atmosphere. Alcohol permit is included on business list. This is truly a "Rivertown Setting". Call me for an Appt.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Clark
Tax ID/APN: 104100700238000037
Property Visibility: Excellent
Largest Nearby Street: Old Salem Road
Highway Access: 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.
Legal Description: LOT 106 & 64' OF LOT 107

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 633 34,839 119,317
Median Age: 49.66 41.51 41.22
Households: 283 13,743 49,736


Photograph of Listing Agent

Michael A Kopp

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