This rare offering of an exceptional mixed-use property along Bardstown Road is now available For Sale. Impellizzeri's Pizza is a long-standing tenant occupying the entire first floor along with some lower level storage. They have over 4 years remaining within their 7 year lease term. The lease expires on 9/21/2029. They currently pay $6,500/month, $78,000/year. The tenant is responsible for 67% of the total operating expenses which currently calculates to $30,275.28 per year in additional rent. In 2 years, the base rent is scheduled to bump 10% to $85,800/year. In 4 years, should Tenant exercise their right to renew, the rent will increase to $94,380/year and remain fixed for the following 5 years.
There are two (2) two-bed, one-bath apartment units on the 2nd floor. Unit 1 pays $1,350 per month. Unit 2 pays $1,100 per month.
Each are on central HVAC. Unit 1 received a brand unit HVAC unit in 2024. Unit 2 is climate controlled with two ductless mini split units that are well maintained.
The property does have a small but hard to find designated parking lot on the backside.