506 Laurel RdLondon, KY 40741

Property Details for 506 Laurel Rd

Year built

1980

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.96 AC

Property type

Retail space

APN

064-50-00-001.00

APU

64500000100

Description

This exceptional commercial property, located at 506 E Laurel Road in London, KY, presents a unique investment opportunity. Situated just two-tenths of a mile from KY Hwy 192 on Hwy East 80, this 10,300 square foot building sits on a spacious 0.96-acre lot and is currently utilized as an automotive sales and powersports dealership, along with an eBay storefront. The building boasts a range of features ideal for diverse commercial uses. The interior includes electric air conditioning, gas heating, and city sewer connections. A comprehensive monitored security system ensures peace of mind, and the property is fully accessible for individuals with disabilities. A large loading dock facilitates efficient operations, complemented by a 50' x 6.5' sidewalk. Two bathrooms and a kitchen area add to the property's functionality. The well-designed floor plan includes a large front showroom (3610 SF), a second front showroom (2400 SF), a front garage with a 10' x 12' garage door (1824 SF), a front shop with loading ramp (442 SF), a rear shop with a 10' x 8' sliding door (1020 SF), a rear right shop/garage with 12' x 10' sliding doors (900 SF), and a left rear shop (485 SF). A significant added benefit is the availability of over $400,000 worth of new old stock (NOS) automotive and tractor parts, and other automotive equipment, offered at a heavily discounted price to the buyer. This versatile property offers substantial potential for a variety of commercial ventures. The asking price is $485,000.

• CAP approach

  CAP return

  Valuation

  6%

  $10,546,900

  6.5%

  $9,735,600

  7%

  $9,040,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,957,728

  Geo Method

  $9,071,227

• Alternative Use

  Use

  Valuation

  Residential

  $8,212,343

  Hospitality

  $7,522,462

  Educational

  $6,258,600

  Medical

  $6,473,843

  Retail

  $9,735,600

Location Insight

City

London

County

Laurel

State

Kentucky

Latitude

37.1174

Longitude

-84.0443

CBSA code

30940

CBSA name

LONDON, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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