NORTON COMMONS DBL LIVE WORK SO VILLAGE, LOU,KY | Great for Owner/User

Retail-Commercial for Sale
Catylist Listing ID: 30872347
Property Subtypes: Mixed Use, Other
Building Size (RSF): 5,933 SF
Sale Price: $2,350,000
Unit Price: $396.09 PSF
Ceiling: 12 ft.
Property Use Type: Investment, Business
Usable Size (USF): 5,309 SF
Sale Terms: Cash to Seller
Auction License Number: na
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/16/2024

Overview / Comments

Two Live/Work Buildings are for Sale as an Investment property or for an owner/user. Zoned commercial first floor with signature store fronts and rear private entrances. PLUS, two second floor condo/apartments with attached garages. Located in Norton Commons South Village Town Center, Louisville's Traditional Town Development. Desirable and highly sought after development. Multi-use product and long-term flexibility, mixed use commercial and residential. Centrally Located between Springhurst, Jefferson County and Crestwood, Oldham County. Commercial ground-floor is ideal for medical or professional office or even a showroom/studio. A+ area. Stable leasing history.

DETAILS: well-built construction which could not be reproduced at today’s asking price. No LiveWork lots available in Norton Commons at this time.

COMMERCIAL: Each Building has 1,377.5 SF of finished commercial space, total 2,755 RSF/USF, 12-14' ceilings with drop down and sound panels. Currently combined as one for existing lease holder (one business) open concept. Built with flexibility to use as 1 space or 2 spaces. Real Estate Taxes, Insurance/CAM/ Dumpster: Tenant to pay the prorated share of expenses.

APARTMENT/CONDO: 2 Rental Units: apartment/condo. Open concept with 2bd/2ba/1,272 SF, 10' ceilings. Combined total 2,544 SF luxury appointments meeting the standards of the neighborhood, 1 car 316 sqft (non conforming S.F. not included in total), attached garage for each unit and private rear entrance with public parking lot in rear and on street parking in front on Meeting Street. Similar units rent compare $2300 -3100/mo and attached garages are very hard to find.

BUILDING DESCRIPTION: Approximately 5,300 S. F. of rare, stand-alone building. The building is positioned with East-West exposure situated alongside professional businesses and coffee shop, across from retirement community and 3 story apartment building on Meeting Street between Norton Commons Blvd and Delphinium St. One block south from the Town Center. Large sidewalk frontage and public access to main parking lot.

LOT: Each lot is 100.84 X 24.01.

Note: Each building is deeded separately, and apartments cannot be sold off as condos. Short-term rentals/VRBO’s are allowed.

COMMENTS: Similar to The Waters in Pikes Road, Alabama with much more activity and the Watercolor/Cinnamon Shores type of developments. Norton Commons development concept is designed by the Seaside FL's world-renowned architect firm of DPZ CoDesign. Principals of Andres Duany and Elizabeth Plater-Zyberk designed similar and successful developments throughout the country and worldwide. https://www.dpz.com/projects/norton-commons/

Call listing agent for lease details and disclosures. Shown by appointment only, Commercial: 24-hr notice, before 8:45am or after 5:15pm any time Saturday or Sunday. Tenant's Signage: on the front of the premises. Maintain and repair in a first-class manner. HVAC maintained with a service contract. NO SIGN.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Taxing Authority: Jefferson County
Tax ID/APN: 372503170000
Zoning: C-2 - Commercial District
Retail Clientele: General, Family, Business, Other
Property Located Between: Norton Commons Blvd and Delphinium St.. One block south from the Town Center.
Property Visibility: Excellent
Largest Nearby Street: Meeting Street| US HWY 22 | Chamberlain Lane
Feet of Frontage: 240
Highway Access: US HWY 22 to Gene Snyder
Airports: BOWMAN FIELD AIRPORT (KLOU), LOUISVILLE, KY LOUISVILLE MUHAMMAD ALI INTERNATIONAL AIRPORT (KSDF), LOUISVILLE, KY
Site Description: Norton Commons South Village Developed. Wide sidewalks easy parking. Features; Surrounded by professional business and across the street is a building with approximately 41 doors servicing retirees and residential tenants. Conditions/ Attributes: EW exposures, front signage, some outdoor seating, no landscaping all common to the development, B+ hardiboard exterior condition, HVAC routinely maintained by owner, business type regulated by Norton Commons HOA, South Village, live work building site positioned as double lot. Commercial first floor is currently used by one tenant for open concept. Interior wall could easily be added to create two 1,272 SF business each with a front door entry and rear door entry.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 1,272 SF
Property Condition: Excellent
Year Built: 2015
Roof Type: Hip
Construction/Siding: HardiePlank Siding
Exterior Description: Street frontage with retail and wide sidewalks
Parking Type: Surface, Other
Parking Description: Off street parking in front, parking lot in rear
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL, ISDN, Satellite, T1/T3, Gigabit, Other
Interior Description: COMMERCIAL: Move-in ready, with kitchenette and Bath. Window blinds and office lighting. RESIDENTIAL APT/CONDO: luxury appointments meeting the standards of the neighborhood,
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: FRONT HOA .

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,710 51,889 120,230
Median Age: 37.97 40.15 40.93
Households: 1,565 20,689 48,627

Contact

Photograph of Listing Agent

Colleen E Walker

EXP Realty LLC KCREA Member
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