Beechmont Retail Investment

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30589211
Property Subtypes: Convenience Store, Free-Standing Building
Status: Pending
Building Size (RSF): 2,827 SF
Gross Building Area: See Agent
Gross Land Area: 0.27 Acres
Sale Price: $230,000
Unit Price: $81.36 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Last Updated: 11/4/2020

Overview / Comments

1001 Brookline is an attractive neighborhood retail building with strong cash flows. Currently occupied by two tenants the smaller of which is month to month and could be vacated for an owner-user.

Located in the growing Beechmont neighbrohood this property provides an opportunity for an investor to diversify into commercial and retail with existing tenants in place.

Financials

Finance Data Year 2019
Potential Rental Income $24,000 (Annual)
Net Operating Income $19,549 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name One Stop Smoke Shop
Is Renting? Yes
SF of Space Occupied 2,200 SF
Current Rent $14,832 PSF (Annual)
Lease Expiration 1/0031
Escalations Extension term has a 3% rental increase.
Options one (1) two (2) year extension
Tenant Business Name Coffee Wrench
SF of Space Occupied 1,000 SF
Current Rent $8,400 PSF (Annual)
Tenant Notes Tenant is currently month to month.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 054C01040000
Zoning: C-1 - Commercial District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,931 107,109 271,610
Median Age: 35.47 36.82 36.95
Households: 7,741 43,974 114,615

Contact

Photograph of Listing Agent

Michael J Hall

Fortis Group KCREA Member
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