Downtown Jeffersonville 123 Court Ave

Retail-Commercial for Sale
Catylist Listing ID: 30150758
Property Subtypes: Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 3,760 SF
Gross Building Area: See Agent
Sale Price: $275,000
Unit Price: $73.14 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/14/2018

Overview / Comments

Located in Downtown Jeffersonville. Property is in the TIF (Tax Increment Financing) District, the Overlay District, the Historic District and the Riverfront Redevelopment District which allows for a restaurant to secure a 3 way alcohol permit (beer,wine, and spirits) for $1000 once state approves permit. All districts offer some form of incentive. Grants, when available, may be applied for as well. Jeffersonville continues to grow and attract more development. This site is a block away from much of the activity and feet away from Spring Street which is the main drag through the middle of downtown. When you come across the bridges this is the first exit (Court Ave). The building is under renovation as there is a new roof going on and the entire interior layout can be reworked for a build to suit interest or they would also lease at $12.00 psf (depending on the type of finish) and you could rent half or all of the space. Also could be a build to suit with an option to purchase upon agreed terms and conditions. Jeffersonville continues to grow their arts and entertainment scene along with more restaurants and pubs.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Clark
Tax ID/APN: 101900100583000010
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Pearl and Spring Streets
Property Visibility: Excellent
Largest Nearby Street: Spring Street
Highway Access: Direct to I-65 which ties into I71 and I-64 so its all at your side door.
Airports: Louisville International Airport and Clark County Airport
Site Description: Downtown Jeffersonville offers street retail with wide sidewalk and public street parking out front. Court Ave comes directly off I-65 at the bridge. Currently split space with multiple entries and exits but could easily be a single space.
Area Description: Downtown is growing, there is reinvestment, expansion of existing businesses, renovation of others and more new residential units are on the way. The new TownPlace Suites (a Marriott brand) hotel is underway just a block away.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,760 SF
Property Condition: Excellent
Year Renovated: 2017
Construction/Siding: Brick
Exterior Description: currently stucco look and appears itailian like with arched front and tiles
Parking Description: public street

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,841 111,398 289,608
Median Age: 39.93 36.52 37.48
Households: 3,117 50,296 126,092
© Copyright Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.