La Vigne Wine Bar

Commercial Real Estate Opportunity in Downtown LaGrange, KY

111 N First Ave, La Grange, KY. 40031

Real Estate: $375,000

Business & FF&E: $50,000

Sq Ft: 1,880

This is an in-depth analysis of an attractive commercial real estate property and business in downtown LaGrange, KY. Currently operating as La Vigne wine bar, the property features 1,013 sq. ft. on the first floor and an additional 800 sq. ft. on the second floor. This document examines four distinct models for potential buyers or investors, incorporating detailed revenue projections and annual lease costs per sq. ft.

Option 1: Owner-Operator – High-End Wine or Bourbon Bar

This option involves an owner-operator purchasing the building and maintaining the existing wine bar operation or transforming it into a high-end bourbon bar. This assumes the entire building will be used for retail wine bar purposes. The only expenses would be wine and liquor purchases from a distributor and the cost of obtaining a liquor license. Staffing costs can be lowered with owner involvement in the daily operations. Suggested hours of operation are Thursday – Saturday from 6-11 PM and seasonally on Sundays.

Wine/Bourbon Bar Projected Revenue:

Packaged Liquor Sales:

Tasting/Event Room Revenue:

Expenses:

Option 2: Owner-Operator – Mixed-Use Space

An owner-operator purchases the building, maintains the wine bar on the first floor, and rents the second floor as an Airbnb or apartment. There are few long-term and short-term rentals available in downtown LaGrange. Combined with increasing tourism, STRs are desirable to travel nurses and those visiting the Bourbon Trail and local attractions. Oldham County tourism generates over $46 million in annual revenue (2022) and growing.

Revenue Projections: Up to $47,299 Gross Revenue from rents

Second Floor apartment lease: Airbnb – $14,000 – $24,000

First Floor lease rate: $23 per sq. ft. (1,013 sq ft) – $23,299

Option 3: Investment – Lease to an Operator 

Option 4: Investment – Mixed-Use (Lease to an Operator & Airbnb Rental)

The La Vigne Historic Building in downtown LaGrange, KY, offers a lucrative commercial real estate opportunity with versatile revenue models. Through careful consideration of revenue projections and lease costs, stakeholders can make informed decisions based on their financial objectives, ensuring a strategic and successful investment in this vibrant downtown locale.