Profitable Liquor Store

Retail-Commercial for Sale
Catylist Listing ID: 30782798
Property Subtypes: Street Retail
Building Size (RSF): 3,600 SF
Gross Building Area: See Agent
Sale Price: $1,250,000
Unit Price: $347.22 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/12/2022

Overview / Comments

Very Profitable Liquor store downtown Lexington in between two colleges. In the heart of Lexington! So much comes with this listing... The business, the building, the inventory, a house ( needs to be remodeled it's already gutted out ), 2 car garage, a vacant lot that can be built on and lots of deli equipment and freezers so forth.
The owner is selling because he is finally retiring and moving to Turkey. He has owned this business for 25 years. He is willing to stay for 3 months to train. One can see buy all the weekly inventory purchases how much he is selling. He is now only open 8 hours a day or so and not open late because he is in retiriment mood. He used to be open much later and did 3 times the money. He has no employees because this is a drive through window only and people dont walk into the store. There is another drive through window on the other side of the building that is not being used that one could have as a coffee window or deli. There is space to have picknick tables and more out back in the spring and summer. He was very busy during covid as well. This is a low over head company. A good idea would be to finish the house next door that comes with this listing and airbnb it out and add coffee to the other window. He already makes well over 200K a year but with longer hours and airbnb 500-600K easy... what he made when he worked the hours.
Alot of people are messaging me on this listing asking If i have a gas station instead of this for sale ... I do not.

Financials

Finance Data Year 2022
Gross Operating Income $567,000 (Annual)
Net Operating Income $255,400 (Annual)
Actual or Proforma Year Actual
Lender Name Maranda Harrison
Loan Amount $1,150,000
Down Payment $100,000

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 12186200
Zoning: B2
Retail Clientele: General
Property Located Between: Transylvania and University of Kentucky
Largest Nearby Street: Broadway
Site Description: Right downtown
Area Description: You get low in and high end it's a downtown
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Construction/Siding: Aluminum Siding
Total Parking Spaces: 7
Parking Description: It's a drive through window no need for parking however the lot is so big about 7
Sprinklers: Dry
Heat Type: Electricity
Heat Source: Central
Zoning Description: B2 Business is grandfathered in
Water Service: Municipal
Sewer Type: Municipal
Easements Description: drive though window area and house drive way shared/ but he owns both
Land Ownership: yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,670 116,216 231,867
Median Age: 35.57 33.99 35.08
Households: 7,370 48,948 98,839

Contact

Photograph of Listing Agent

Jenny Gregory

EXP Realty LLC KCREA Member
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