Redevelopment Opportunity + Cash-Flowing Duplex

923 E Madison Street Louisville, KY 40204

923 E Madison Street, Louisville, KY, 40204
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,550,000
Last Verified:
Dec 05, 2023


Description

This property offers an exciting redevelopment opportunity on the edge of NULU in the Phoenix Hill Neighborhood.

The property consists of 6 total lots, with a renovated and furnished duplex 832 SF/unit and a 13,070 SF historic warehouse that is prime for a multi-family/mixed-use redevelopment project.

In addition to the buildings, the asking price includes .31 acres of vacant land zoned OR-2.

The duplex features a solid tenant base of medical professionals seeking close proximity to downtown Louisville's medical hub.

Currently, the warehouse is being utilized as a USDA-approved facility and storage for 2 companies that will vacate upon closing. With the OR-2 zoning, the warehouse could be converted to multifamily, office, and/or event space.

Well positioned just outside the growing NULU corridor in the Phoenix Hill Neighborhood. Very close proximity to the downtown medical district.


Year Built: 1890
Building Size: 14734sq ft
Lot Size: 0.5 acres

Map of 923 E Madison Street, Louisville, KY, 40204

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.