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Cherokee Triangle Church Hotel 1140 Cherokee Rd 26 Room Hotel Louisville, KY 40204 $1,861,555 CAD ($71,598 CAD/Room)
EXECUTIVE SUMMARY
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
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
PROPERTY FACTS
| Price | $1,861,555 CAD | Building Size | 19,500 SF |
| Price Per Room | $71,598 CAD | No. Rooms | 26 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1981 |
| Property Subtype | Hotel | Parking Ratio | 1.03/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 0.35 AC | ||
| Zoning | R8-A | ||
| Price | $1,861,555 CAD |
| Price Per Room | $71,598 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 19,500 SF |
| No. Rooms | 26 |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 1.03/1,000 SF |
| Corridor | Interior |
| Zoning | R8-A |
AMENITIES
- High Speed Internet Access
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $460.56 CAD | - |
| Guest Room | 24 | $330.94 CAD | - |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (76)
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Cherokee Triangle Church Hotel | 1140 Cherokee Rd
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