Operating Convenience
For Sale
Contact for pricing
2800 CRUMS LN, Shively, KY 40216
Operating convenience and smoke shop with commercial zoning, kitchen infrastructure, and multiple product-focused licenses.
Property Size4,976 SF
Lot Size0.48 Acres
Price / SF$170.82
Days on Market15
Property Features for 2800 CRUMS LN
General Information
Standard status
Active
Size
4,976 SF
Class
C
Total Parking Spaces
20
Lot size
0.48 Acres
Property subtype
Retail
Zoning
C2
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Additional Details
Business Included
Yes
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: Sep 1
Last Checked: Sep 1 at 10:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Totally About Houses
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,565
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,431,300
$1.4M
Cap Rate 7%
$1,022,357
$1.0M
Cap Rate 9%
$795,167
$795.2K
Market Conditions
NOI Build-Up for 4,976 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $71,565 @ 7.0% cap · market cap 8.42%
Second Best
Retail
$883.7K
$773.3K – $1.03M
NOI $61,862 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,329 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
