• Year Built: 1900
2720 Frankfort Ave is aretail property for lease in Louisville, KY.
Well maintained historic property, with approved plans for a third floor addition. Great location, claim this property while you can. This prime Louisville property is ripe for your investment, and will cash flow on day one. There are 4 units currently, all commercial, however just one gas and one water meter, so those costs are paid by landlord and then allocated to tenants who reimburse landlord monthly.
(For your owner operator; the building can be vacated prior to closing if necessary, with the full building being available for owner operator bar, restaurant, nightclub, office, retail user and any needed renovations.)
The two first level tenants (Carmichael’s and Crescent Hill Trading Co) have their own electric meters and are billed directly by LGE. The second floor has just one electric meter which the landlord also pays and then gets reimbursed by those two tenants.
At this time, Landlord pays for taxes, insurance and maintenance. However maintenance costs have been nominal since there is no lawn care or snow removal costs - the tenants take care of those. This is a low cost investment.
Also a great space for an owner operator to secure for their business.
The building underwent a large scale renovation in 2003 after current owner purchased: new siding, windows, guttering and lots of interior finish - mainly the buildout of Carmichaels. But also a lot of mechanical. The roof was replaced in 2013 due to hail damage - was paid for by insurance.
Parking in rear is run and maintained by the city pursuant to an easement.
We are currently accepting offers.
Value add option on 3rd floor for a 1400 sq ft residential penthouse, could also add as much as 2k per month in income.
See broker for property details, architectural drawings of 3rd floor, and lease agreements. Site tours if needed.
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