Park Place Lofts

Retail-Commercial for Sale
Catylist Listing ID: 30811581
Property Subtypes: Street Retail
Building Size (RSF): 1,600 SF
Gross Building Area: See Agent
Sale Price: $346,666
Unit Price: $216.67 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 1/18/2023

Overview / Comments

Investment Opportunity to purchase 1,600 SF on the first floor of the Preston Lofts with great frontage on Preston Street.
A new three year NNN lease has been signed with Mythos Tattoo.
The Tenant pays real estate taxes and condominium association dues.
The space has been built out as a tattoo salon but could easily be modified for office or retail to capitalize on the affluent office and residential spaces surrounding the site, if the current tenant ever leaves the space.
The sale includes Units 107 and 108, which are in excellent condition

Current Tenants

Tenant Business Name Mythos Tattoo
Is Renting? Yes
Current Rent $31,200 PSF (Annual)
Lease Expiration 6/2025

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 017C01070000
Zoning: C-3 - Commercial District
Retail Clientele: General, Business, Tourist, Convention
Property Located Between: Main and Market Street
Property Visibility: Excellent
Highway Access: Easy access to I-65 and I-64.
Site Description: This offering is units 107 and 108. The monthly condo fee is $347.18 per month.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Excellent
Year Built: 2005
Year Renovated: 2022
Parking Type: Structure
Parking Description: Two spaces located in the rear of the building.
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: C-3 commercial.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,195 129,748 307,326
Median Age: 34.24 35.72 37.12
Households: 5,729 57,954 133,357
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