LOUISVILLE, Ky. (WDRB) -- One of the most visible properties in the historic Clifton neighborhood is due for a makeover.
The River City Tire building at 2235 Frankfort Avenue was sold Friday to a group planning to renovate 12,500-square-foot service garage and lease it out for commercial uses such restaurants or retail, said real estate agent Reed Weinberg of PRG Investments.
Weinberg represented seller Ted Waldeyer in the $662,500 deal, he said. After operating the tire business for decades, Waldeyer decided to retire and closed the shop about a month ago, Weinberg said.
Weinberg said Andrew and Aaron Mueller, the brothers behind property buyer Frankfort Avenue LLC, will likely renovate the building and lease it out. He didn't know their exact plans, but does not expect the property to continue as an auto business.
The Muellers did not immediately return a call Friday. (UPDATE:
The Mueller family owns Cardinal Services, an environment and construction business, and the two brothers renovated the building at 110 W. Main Street, which now houses Impellizeri's pizza, Weinberg said.
“They are renovators; they go in and turn something around,” Weinberg said.
A key selling point for the River City property was that it has commercial zoning, which paves the way for redevelopment fitting with the retail-restaurant corridor that Frankfort Avenue has become, Weinberg said.
Still, some potential buyers were interested in running an automotive business, Weinberg said. Others were looking at tearing the building down and building something new, he said.
The property has about 225 linear feet of frontage along Frankfort Avenue, according to PVA records. It actually contains multiple buildings that have been added and connected over time, Weinberg said. The original building dates to 1937, according to the PVA.
Weinberg said plans for about 100 apartments just up Frankfort Avenue at the old Ready Electric property mean even more potential customers within walking distance of the River City Tire property.
“That is the heart of Clifton right there,” Weinberg said.
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