Value-Add, Mixed Use Building & C-Store Business

Retail-Commercial for Sale
Catylist Listing ID: 30859628
Property Subtypes: Convenience Store
Building Size (RSF): 5,934 SF
Gross Building Area: See Agent
Sale Price: $750,000
Unit Price: $126.39 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/27/2023

Overview / Comments

Mixed-use opportunity - 5,934SF on 0.279 acres just outside of NuLu. Webbs Market, a local convenience store, has been a staple of the Phoenix Hill community for decades. The business and real estate can be purchased as a package for an owner-operator looking to start or expand their convenience store empire. The business occupies the first floor of both 944 & 942 E. Muhammad Ali Blvd, while the second story has remained vacant and requires renovation. Historically, the second story has been utilized as apartments/multifamily.

Sale includes liquor, grocery, and deli licenses, all equipment and inventory, and 3 parcels (940, 942 & 944 E Muhammad Ali Blvd).

The opportunity poses significant upside for those willing to make the necessary improvements to drive business and add additional rental revenue from the second story.

Price Breakdown:
Real Estate: $550,000
Business: $200,000

Note the building itself is not generating income through leases as the owner is not paying rent to himself. The business generates $124,000.

Listing Contacts:
Dylan Gilezan 502-648-7874
Sam Higdon 502-235-0629

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 016E01940000
Zoning: C-1 - Commercial District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,351 130,021 311,810
Median Age: 33.9 36.43 37.57
Households: 7,160 58,894 136,248


Photograph of Listing Agent

Stephanie L Gilezan

EXP Realty LLC KCREA Member
Photograph of Listing Agent

Cal J Lewellyn

EXP Realty LLC KCREA Member
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