Significant Price Adjustment - The Historic Schweitzer Pharmacy

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30851814
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Street Retail, Other
Status: Pending
Building Size (RSF): 3,519 SF
Sale Price: $40,000
Unit Price: $11.37 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: Schweitzer Pharmacy
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/13/2024

Overview / Comments

Tax credits available! See below for more details.

This Queen Anne-style building was built on a prominent intersection around 1900 and spent much of its life as the Schweitzer Pharmacy. Please note, the interior is a shell and will require a complete build-out.

This two-and-one-half-story commercial structure dominates the corner of 26th Street and Bank Street. The building's primary commercial facade faces Bank Street and has an entrance on the corner as well as toward the right side when viewed from Bank St. The corner side was built for retail, and the second door leads to more first-level space as well as upstairs living space.

With many historic architectural details intact you'll notice a turret, multi-light gabled roof dormers, fish scale shingles, and a porch with an arched surround. This building is a great example of a late-nineteenth to early-twentieth century corner commercial store, designed with a store on the first floor and living quarters on the second and third floors. Many original architectural features are still present, including weatherboarding, door and window trim, and other details.

The building is individually listed on the National Register of Historic Places. This means that the new owner can earn federal and state historic rehabilitation tax credits as they bring this building back to life. The credits amount to 20-30% for state credits and an additional 20% for federal. It is expected that the new owner will pursue these tax credits, and the non-profit “Vital Sites” can help navigate the tax credit application process for the new owner.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 004BSROW0000|1
Zoning: C-1 - Commercial District
Property Visibility: Excellent
Largest Nearby Street: 26th and Bank Street
Total Number of Buildings: 1
Number of Stories: 25
Property Condition: Poor
Year Built: 1900
Roof Type: Gable
Construction/Siding: Wood Siding
Parking Type: Other
Parking Description: Street

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,053 119,843 251,982
Median Age: 33.23 35.75 36.74
Households: 4,851 50,858 108,348

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