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: 2/26/2024

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 3 parcels (940, 942 & 944 E Muhammad Ali Blvd).

The opportunity poses a 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
Inventory: TBD

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

Disclaimer: This information has been obtained from reliable sources. Broker has no reason to doubt its accuracy but it may contain errors or omissions. Broker makes no representation, warranties or guarantees with respect to this information and Buyer should review all of it.

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: 14,380 129,168 311,810
Median Age: 34 36.47 37.57
Households: 6,599 58,598 136,248

Contact

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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