C2 Redevelopment in Shelby Park

Retail-Commercial for Sale
Also listed as Multi-Family, Hospitality
Catylist Listing ID: 30872533
Property Subtypes: Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail, Other
Building Size (RSF): 3,140 SF
Gross Building Area: See Agent
Gross Land Area: 3,375 SF
Sale Price: $215,000
Unit Price: $68.47 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/14/2024

Overview / Comments

We are pleased to present an exceptional commercial real estate development
opportunity in the heart of Louisville's vibrant Shelby Park neighborhood. This
corner commercial unit boasts a recent C2 zoning change and is strategically located just three blocks from Shelby Street, surrounded by a thriving residential community. The property's prime location offers an unparalleled opportunity for investors and developers to bring their vision to life. With variances already secured for the demolition and reconstruction of an accessory rear unit and the addition of a front exterior awning, this property presents a unique canvas for renovation and redevelopment.

Priced competitively, this property is poised for transformation into diverse
potential uses, including residential units, short-term rentals, a restaurant, an
event space, or a combination of these possibilities. Its adaptable layout and
zoning designation provides a rare chance to capitalize on the burgeoning
demand for mixed-use spaces in this sought-after neighborhood. Whether
seeking to revitalize the existing structure or reimagine its potential entirely,
investors will find ample room for creativity and profit in this promising
opportunity.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 023D01280000
Zoning: C-2 - Commercial District
Retail Clientele: General, Business, Traveler, Tourist
Property Visibility: Good
Largest Nearby Street: Shelby St
Feet of Frontage: 25
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 25
Typical SF / Floor: 1,200 SF
Property Condition: Poor
Year Built: 1906
Parking Description: Street parking - no parking restrictions for any use.
Sprinklers: None
Lot Frontage: 25
Lot Depth: 135
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 27,571 141,932 321,757
Median Age: 35.06 35.48 36.82
Households: 13,245 63,146 138,789

Contact

Photograph of Listing Agent

Jonathan D Klunk

EXP Realty LLC KCREA Member
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