Large Multi-use Building on High Traffic Corner

Retail-Commercial for Sale
Catylist Listing ID: 30806245
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 13,800 SF
Gross Building Area: See Agent
Sale Price: $500,000
Unit Price: $36.23 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/29/2022

Overview / Comments

Large historic building for sale. Known as "Layton Hall". This property includes two lots and road frontage on Main Street, Seventh St, and Henry Clay St. A large 12 space parking lot in rear. A total of 13,800 above grade square footage 3 floors with 4400 in basement at surface level.

One of the most architecturally unique and interesting buildings in the area, this property is located near a new outdoor mall, the new community center, other historic establishments, and on the same block as Stargazer Plaza – an open-air event space developed by the City of Shelbyville. The building sits on one of the busiest downtown corners in an important up-and-coming area that the City of Shelbyville has been revitalizing. Shelbyville and the downtown area are also well located to take advantage of tourism generated by the ‘Bourbon Tour’ due to its convenience to multiple destinations on that tour.

Also of potential interest, this property is in an area where matching funds (up to $100,000) from the City of Shelbyville may be available to the new owner for rehab/improvements to the building. Certain conditions apply and the buyer is responsible for investigating the Downtown Reinvestment Fund and making their own determination as to potential benefits.

The location, architecture, size, potential tourism, and possible matching funds make this a unique opportunity. Please contact the listing agent for more details or to schedule a showing.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Shelby
Submarket Type: Central Business District
Tax ID/APN: S10-13-001
Zoning: CBD (SHELBYVILLE)
Retail Clientele: General, Business, Traveler, Tourist
Property Located Between: Main Street, Seventh Street, and Henry Clay Street
Property Visibility: Excellent
Largest Nearby Street: Main Street
Site Description: 13,500 sq ft lot in two tracts. 380 ft of total street frontage
Number of Stories: 3
Property Condition: Fair
Year Built: 1891
Roof Type: Gable
Construction/Siding: Brick
Total Parking Spaces: 12
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,529 19,323 22,858
Median Age: 37.02 34.83 36.01
Households: 2,553 7,092 8,441

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