Catylist ID:
#30855873
High Quality Restaurant/Bar/Convenience Store in 40203
Retail-Commercial
for Sale
| Catylist Listing ID: | 30855873 |
| Property Subtypes: | Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other |
| Building Size (RSF): | 5,588 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.57 Acres |
| Sale Price: | $995,000 |
| Unit Price: | $178.06 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Vacant/Owner-User, Business |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 10/2/2023 |
Overview / Comments
|
Highly desirable and well-maintained restaurant/bar and/or convenience store opportunity located along W Jefferson St. The property currently houses “Joe’s Palm Room”, an iconic Louisville Restaurant and Bar that has been serving patrons for over 50 years. If you're interested in purchasing the business, please ask the listing agent for details. The space is comprised of just over 4,200 SF and contains a full bar, kitchen, dining area and dance floor. It also has a roughly 1,380 SF of outdoor patio space for additional seating and/or to host private events. Traffic counts exceed 8,000 VPD and parking is plentiful with over 40 spots on site. Additionally, the owner receives $2,000 per month in rent for leasing space to gaming machines as well as $600 per month from his neighboring tenant, “Stevie J’s Bar-B-Que”. The property is zoned C-2 which is extremely flexible and allows a potential owner to maintain a restaurant/bar on site. A new owner could also convert the property to house another business use including, but not limited to, a convenience store, auto shop, car lot, event space, community service facility etc. For a list of potential uses, check out the following link: https://drive.google.com/file/d/1YZM- 2L0hB3qoR-anfHUlHVtzaOmXGaXH/view?usp=sharing To access the financial and other relevant property information, fill out the confidentiality agreement provided in the "Attachments & Media" section below. |
Attachments & Media
Additional Details
| Nearest MSA: | Louisville/Jefferson County |
| County: | Jefferson |
| Tax ID/APN: | 029ESROW0000 |
| Zoning: | C-2 - Commercial District |
| Retail Clientele: | General, Business |
| Property Visibility: | Excellent |
| Tenancy: | Single Tenant |
| Property Condition: | Excellent |
| Parking Type: | Surface |
| Parking Description: | Parking is plentiful. |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 15,877 | 130,503 | 278,094 |
| Median Age: | 31 | 35.17 | 36.51 |
| Households: | 6,133 | 55,073 | 119,808 |
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