970 3Rd St Louisville, KY 40203
- Turn key restaurants
- 1,245 SF
- 0.19 lot acres
Current Use by Public Records
- D. Nalley's / Italian Restaurant / Mexican Restaurant
Property Details for 970 3Rd St
- Year built
- 1960
- Lot size
- 0.19 lot acres
- Property size
- 1,245 SF
- Zone code
- C2-COMMERCIAL
- Property type
- Turn key restaurants
- APN
- 08029F01130000
- APU
- 08029F01130000
Description
This exceptional 1,245-square-foot free-standing retail building, located at 970 S 3rd St in Louisville, Kentucky, presents a unique investment opportunity. Formerly home to the beloved D. Nalley's diner for many years, this landmark property boasts a rich history and prime location within the thriving SoBro district. Built in 1960, the single-story building is zoned PD and offers ample parking at the rear. Its ideal setup for a restaurant makes it an attractive option for food and beverage businesses, but its versatile design allows for adaptation to various alternative uses. Benefitting from its proximity to both the residential areas of Old Louisville and the educational corridor (Spalding University and the University of Louisville), this property enjoys high visibility and convenient access to downtown Louisville. The building's single-tenant occupancy provides flexibility and control for the new owner or lessee. This is a rare chance to acquire a well-established property in a rapidly growing area of Louisville, offering significant potential for return on investment. The property's history as a successful neighborhood diner provides a strong foundation for future success. The ample parking is a significant advantage in a densely populated area. This property is ready for its next chapter.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $110,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $85,000
- 6.5%
- $90,000
- 7%
- $85,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $95,000
- Geo Method
- $85,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $105,000
- Retail
- $90,000
- Mixed-Use
- $105,000
- Hospitality
- $100,000
- Educational
- $80,000
- Residential Income
- $95,000
- Energy
- $85,000
- Income-Based Land
- $100,000
- Food Service
- $95,000
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.7584
- Latitude
- 38.2392
- CBSA code
- 31140
- CBSA name
- LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA
