Successful Event Venue For Sale | The Gatewood Building | LaGrange, KY

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30843905
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Status: Pending/Contingent
Building Size (RSF): 3,300 SF
Gross Building Area: See Agent
Sale Price: $575,000
Unit Price: $174.24 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: The Gatewood Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/18/2023

Overview / Comments

2023 Gross revenue is projected to exceed $200,000

Welcome to the Gatewood Building, a rare and exquisite commercial property in the heart of historic downtown LaGrange, Kentucky. This stunning historic building, originally known as the Gatewood Drugstore during prohibition, presents an extraordinary opportunity to own a piece of local history.

Built in 1908, the Gatewood Building showcases the architectural grandeur of its era, offering a perfect blend of charm and sophistication. Boasting a prime location, this property is situated among the vibrant ambiance of downtown LaGrange, surrounded by other historic landmarks, retail shops, and popular restaurants.

The first and second levels feature distinct and versatile event spaces available for rent. These beautifully designed areas accommodate up to 360 people, making them ideal for hosting various events. The possibilities are endless: from corporate gatherings, to product launches, to bourbon tastings, to concerts, to wedding receptions, to baby showers, and much more.

Other uses for the building include office space, retail establishment, art gallery, restaurant, tasting room, or even a captivating bourbon experience. Additionally, the basement provides ample storage space or can easily be transformed into a speakeasy or private club.

Convenience is key, as the building offers one dedicated off-street parking space, with many on-street and surrounding parking options available. The Gatewood Building stands out among its peers, as it is the only commercial building of its kind in downtown LaGrange that features a comprehensive sprinkler system to protect your investment and potentially reduce insurance costs.

The current owners have poured their love and dedication into meticulously restoring every aspect of this architectural gem. A detailed list of improvements can be found in the offering memorandum.

The sale may include tables, decor, and other event business personal property and equipment for a strong offer. For any inquiries or to request additional information, please contact the listing agent.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Oldham
Tax ID/APN: 46-L.4-10-15
Zoning: C-2 - Commercial District
Retail Clientele: General, Family, Traveler
Property Visibility: Excellent
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1908
Year Renovated: 2022
Roof Type: Flat
Parking Description: 1 parking space + street parking
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Zoning Description: C-2 / Assembly
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,097 17,458 27,033
Median Age: 33.24 37.15 39.18
Households: 1,237 4,911 8,267


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