Catylist ID:
#30843905
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. |
Attachments & Media
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 |
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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