845 E Main St - Christ the Head Missionary Church

Special Purpose for Sale
Distressed
Catylist Listing ID: 30671793
Property Subtypes: Assembly/Meeting Place
Building Size (RSF): 14,000 SF
Gross Building Area: See Agent
Gross Land Area: 2 Acres
Sale Price: $289,900
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Short Sale/Bank-Owned: Yes
Cap Rate: Undisclosed
Last Updated: 1/4/2021

Overview / Comments

REO sale. Property taxes will be pro-rated to day of closing. Sold 100% as-is, where-is, with all faults. No personal property will be included, only the land, the structures of the land, all electrical, plumbing, heating / AC equipment, and all attached fixtures. Seller makes no representations or warranties as to condition or details of the property. All information provided is believed to be true, but cannot be guaranteed. 2-acre Commercial lot located in Danville, KY, approximately 45 minutes outside of Lexington, KY. Property plays host to an ~14,000 SF commercial building with two floors. Building is ~20-25 years old. Formerly known as Christ the Head Missionary Church. Subject property is currently only operating as a daycare center, which occupies approximately half of the first floor. The second floor is unfinished, with framing and electrical rough-in complete. The other half of the first floor was formerly occupied by the church. The plan was to finish the second floor and move the church upstairs so they have the second floor to themselves, allowing the daycare to expand and create significantly more room for both, but construction has since halted and the church has moved out. The daycare is in a MTM lease at $1,500 / month. Potential exists by curing deferred maintenance, completing the upstairs renovations / finding a tenant, and signing a long-term lease with the existing tenant who we believe wishes to remain at the property and occupy the entire first floor.
Information contained in ANY advertisement for this property is not guaranteed or warranted and should not be relied upon. BY SUBMITTING AN OFFER ON THIS PROPERTY, THE BUYER REPRESENTS IT HAS INDEPENDENTLY VERIFIED ALL INFORMATION AND MADE THE DECISION TO SUBMIT AN OFFER BASED UPON THEIR OWN INVESTIGATION.
Key sale points to know:
• Property is sold 100% AS-IS, WHERE-IS, with all faults.
• Property is sold subject to any / all code violations and work orders.
• Information contained in any advertisement is not guaranteed or warranted.
• Property taxes will be pro-rated to the day of closing.

Current Tenants

Tenant Business Name Daycare
Is Renting? Yes
Current Rent $1,500 PSF (Annual)

Additional Details

Nearest MSA: Danville
County: Boyle
Tax ID/APN: D10-004-004
Zoning: COMMERCIAL
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1996
Year Renovated: 2015
Construction/Siding: Brick
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,921 13,809 24,172
Median Age: 37.57 38.68 39.58
Households: 1,810 5,493 9,368

Contact

Photograph of Listing Agent

April Lane

Prodigy Properties
KCREA Member
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