Building Details

Year Built 1981

Buildings 1

Stories 1

Units 1

Tenancy Single

Listing Agency: Totally About Houses

Listed By: Nick Miller · License #242138

Source: Crexi

Added: Aug 19 Changed: Oct 7 Last Checked: Oct 16 at 8:29AM

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Investment Insights

Based on property information with market context.

The offering combines an operating convenience and smoke shop business with its underlying real estate. The 4,976-square-foot building was constructed in 1981 and occupies a 0.48-acre commercial C2 lot. Interior improvements include a walk-in cooler, additional cooler equipment, and an existing kitchen suitable for food-service operations.

The business holds active lottery, tobacco, and vape licenses. A liquor license application is currently in process. The sale includes the business, real estate, and existing inventory, providing a complete operating platform for continued convenience retail use.

Key Highlights

• Real estate and operating convenience and smoke shop business offered together
• 4,976‑square‑foot building on a 0.48‑acre commercial C2 lot
• Built in 1981

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,565

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,431,300 $1.4M

Cap Rate 7%

$1,022,357 $1.0M

Cap Rate 9%

$795,167 $795.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,976 SF

Gross rent

$101.5K $20.40/SF

− Vacancy

−$6.1K −$1.22/SF

EGI

$95.4K $19.18/SF

− OpEx

−$23.9K −$4.79/SF

NOI

$71.6K $14.38/SF

Area

ZIP 40216

Vacancy

6.00%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,431,300

Cap Rate 7%

$1,022,357

Cap Rate 9%

$795,167

Alternative Uses

Best Use

Specialty Retail

$1.02M

$894.6K – $1.19M (±1% cap)

NOI $71,565 @ 7.0% cap · market cap 8.42%

Second Best

Retail

$883.7K

$773.3K – $1.03M (±1% cap)

NOI $61,862 @ 7.0% cap · market cap 7.28%

Theoretical Best

Office A

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,329 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Big Box & Wholesale Store Restaurant Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

200

Businesses Nearby

5k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Marathon Shops & Services

5,151 visits/mo 0.1 miles

Demographics for 40216, KY

43,434

Population

19,257

Households

2.3

Avg Household Size

40

Median Age

14%

College-Educated

87%

High-School Grad

15.7 sq mi

ZIP Area

2,766

Density / Sq Mi

$50,211

Median Household Income

$35,503

Median Earnings

$883

Median Rent

$154,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Operating convenience and smoke shop with commercial zoning, kitchen infrastructure, and multiple product-focused licenses.

Where is this grocery and convenience store located?

The property is located at 2800 CRUMS LN Shively, KY.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Real estate and operating convenience and smoke shop business offered together; 4,976‑square‑foot building on a 0.48‑acre commercial C2 lot; Built in 1981