For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30744666
Property Subtypes: Free-Standing Building, Mixed Use, Retail-Pad, Street Retail
Building Size (RSF): 5,352 SF
Gross Building Area: See Agent
Sale Price: $875,000
Unit Price: $163.49 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/15/2021

Overview / Comments

Please contact the agent for more information about this listing.

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Taxing Authority: LFUCG
Tax ID/APN: 11463100
Total Number of Buildings: 2
Year Renovated: 1995
Exterior Description: The major renovation occurred in 1995 which won an award from the Historic Preservation Commission. More recent repairs include the Duro-Last roof at 132 completed last year with a 15-year guarantee which costs $28000. The Duro-Last roof on 134 was done 7 years ago. HVAC 2 years ago cost $18,000 This listing is a combined property of 132 and 134 West Third. Note: 132 W 3d sq ft 2400 approx. and 134 W 3d has 2976 sq ft approx. PVA has these two buildings as one record. 132 is vacant and can be shown (supra) 134 has tenants and cannot be shown until contract is in place (contingency for inspection is preferred). Zoned B2A with no A1 overlay. Note: 264 N Upper is a legitimate address for the two units upstairs accessed from the side door facing N Upper. (see Photo) This address is part of this package and is included in the PVA record for the two buildings, although not specifically mentioned in the record.
Parking Type: Other
Parking Description: on street
Interior Description: 132 West Third St Description: 132 W 3d has a modern interior with brick exposed walls, exposed steel roof trusses and raw wood panels. It has zoned display track lighting throughout. The building is brick with a vaulted ceiling, street front facade of windows with exterior canopy. Two new gas and electric HVAC unit mounted on the roof, Street Parking Last rented to Transylvania University for $1700/Mo. Asking $1950 at present not rented. 134 West Third St Description 134 W Third is occupied, 4 units. The interiors have been tastefully renovated with updated baths and kitchens. Front unit has exposed cathedral ceiling. First Floor has one unit up front currently occupied by the Sheriff’s office at $850 per month, water is paid by owner, electric and gas paid by tenant. They have a 5-year lease with 3 years remaining. In the rear of the first floor are two large rooms used by the owner as storage so not currently rented. An added bath would make them office ready for rental. The Upstairs has 3 units: in the front a nice efficiency with cathedral ceiling renting for $640 per month, utilities paid by tenant except water. Middle unit is a two-room small apartment renting for $350 per month, utilities paid by tenant. The unit in back is a larger efficiency renting for $630 and utilities are paid by owner. Rent Unit in front: $640| Unit in Middle: $350| Unit in rear: $640
Zoning Description: Zoned B2A with no A1 overlay.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,062 126,654 235,865
Median Age: 32.17 34.59 35.37
Households: 9,858 53,238 100,139


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