Colonial Cottage Building for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30802862
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 4,523 SF
Gross Land Area: 0.40 Acres
Sale Price: $750,000
Unit Price: $165.82 PSF
Property Use Type: Business
Building Name: Colonial Cottage
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/29/2022

Overview / Comments

The Colonial Cottage restaurant building is for sale with approximately 30 parking spaces on a 0.40 AC site. The property was damaged by a fire in 2021 and needs to be remodeled but could easily be restored back to the Colonial Cottage or another restaurant concept. Other potential development options include an office building or multi-tenant office building. The building has both upper and lower entrances that would make multi0tenant occupancy easy. Recent capital improvements include a 2-year-old roof and a newer HVAC system (both of which can be salvaged with some repairs). The site could be expanded, or a long-term ground lease is also available. This area of Dixie Highway will be completely transformed with a new Kroger development.

Excellent location with high visibility located in front of Silverlake Shopping Center with nearby signalized intersection. Pylon signage is a plus. High vehicles count on a major Northern Kentucky corridor. Crestview Hills Town Center nearby, Dixie High School nearby, national brand restaurants across the street.

Additional Details

Nearest MSA: Cincinnati
County: Kenton
Taxing Authority: Kenton County
Tax ID/APN: 015-10-13-002.02
Retail Clientele: General, Family, Business, Traveler
Property Located Between: Commonwealth and Montgomery Street
Property Visibility: Excellent
Largest Nearby Street: Commonwealth
Feet of Frontage: 166
Highway Access: I-275 to Dixie Highway
Airports: Cincinnati International Airport, approximately 10 minutes away
Site Description: 2 story building with 30 parking spaces with high visibility in area of new development nearby. Located in front of Silverlake Shopping Center with signalized intersection nearby.
Area Description: This area of Dixie Highway will be completely transformed with new Kroger development.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Fair
Year Built: 1987
Year Renovated: 2020
Roof Type: Gable
Construction/Siding: Aluminum Siding
Exterior Description: Aluminum siding with stone facade.
Total Parking Spaces: 30
Parking Type: Surface
Parking Description: 30 striped surface parking spaces
Heat Source: Heat Pump
Air Conditioning: Engineered System
Interior Description: Building needs to be remodeled due to fire damage in 2021. It can be easily restored to restaurant or converted to office.
Zoning Description: Commercial
Lot Frontage: 166
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Of record

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,485 73,946 181,169
Median Age: 39.62 37.54 36.22
Households: 6,032 29,842 72,279


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