Value-Add, Mixed Use Building & C-Store Business

Highlights

• OR2, C1 Zoning (owners are in the process of getting the entire property zoned C-1)
• Recognized and established business presence with a lot of organic foot traffic
• Includes: Liquor, Grocery, and Deli Licenses, as well as all equipment and inventory
• Seller’s Discretionary Earnings (2022): $124,000
• Growing neighborhood on the edge of NULU, Old Louisville, and the Highlands
• Years built 1885 & 1900
• Second story could be converted into 1 or 2 apartments for additional cash flow

Description

Mixed-use opportunity - 5,934SF on 0.279 acres just outside of NuLu. Webbs Market, a local convenience store, has been a staple of the Phoenix Hill community for decades. The business and real estate can be purchased as a package for an owner-operator looking to start or expand their convenience store empire. The business occupies the first floor of both 944 & 942 E. Muhammad Ali Blvd, while the second story has remained vacant and requires renovation. Historically, the second story has been utilized as apartments/multifamily.

Sale includes liquor, grocery, and deli licenses, all equipment and inventory, and 3 parcels (940, 942 & 944 E Muhammad Ali Blvd).

The opportunity poses significant upside for those willing to make the necessary improvements to drive business and add additional rental revenue from the second story.

Price Breakdown:
Real Estate: $550,000
Business: $200,000

Note the building itself is not generating income through leases as the owner is not paying rent to himself. $124,000 NOI 2022.

Listing Contacts:
Dylan Gilezan 502-648-7874 Dylan@gilezanteam.com
Sam Higdon 502-235-0629 samghigdon@gmail.com

Growing neighborhood on the edge of NULU, Old Louisville, and the Highlands.