1140 Cherokee Rd - Hospitality FOR SALE


Louisville, KY 40204- Cherokee Triangle
$1,350,000 USD
502-645-1729
1140 Cherokee Rd, Louisville, KY for Sale
$1,350,000 USD
Hospitality - FOR SALE
1/16
null | Request Cap Rate

1140 Cherokee Rd
Louisville, KY 40204
Cherokee Triangle


OVERVIEW

Cherokee Triangle Church or Development Opportunity Incredible development opportunity in the highly coveted Cherokee Triangle/Highlands neighborhood. This offering includes both the historic vacant church at 1140 Cherokee Rd. (recently rezoned OTF) as well as the adjacent parking lot at 2013 Patterson Ave. (zoned C2, approx. 20 spaces). Historic tax credits have already been approved, and transfer with the sale of the property. The current owner has detailed plans for a 26 bedroom short term rental/boutique hotel plus event space. Other ideal uses include mid or long term rentals, condos, social clubs, or office space with large meeting room capacity. The property includes a stunning, historic, approx. 4,200 SF sanctuary space with a large, light-filled garden level that includes a kitchen, additional rooms, and large common area. The newer vintage, approx. 10,600 SF, addition is currently configured with multiple rooms on three levels. There is outdoor patio space as well as the parking lot. Newer, flexible zoning allows for short term rentals plus myriad other uses. The excellent location, availability of tax credits, and off street parking make this a property prime for redevelopment. Access to Deal Room: https://connect.prgproperty.com/deal-room/265?signature=11f93653ff57e30a4f2410e9f5a1c9b1f6874c4dcbf72c0c7a06427943442142

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$69 USD /SF

# OF ROOMS

26

PRICE/ROOM

$51,923 {currency}

CAP RATE

Request Cap Rate

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherokee Triangle Church Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1981

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

R8-A

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Jenny JohnstonPRG Commercial Property AdvisorsMore Info
502-645-1729

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Jenny JohnstonPRG Commercial Property AdvisorsMore Info
502-645-1729

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.