Speir Hardware for sale for $350,000
Reed Weinberg, president of PRG Investments, posted on social media that the Speir Ace Hardware building on Barrett Avenue is for sale. According to the property overview, the business opened in that location in 1944. The 70-year-old institution could be part of the purchase.
The retail unit is approximately 4,972 square feet with a basement of 2,452 square feet. The sale includes the parking lot in the rear with access from the street and alley and a rear entrance of the building. There is an upstairs former residential space that was the living quarters for the original owners.
Overall, it seems like a steal for $350,000.
The overview states:
The property is well located in a location with immense character and high exposure. Abutting the charming, tree-lined residential streets of the Original Highlands, the building is surrounded by a diverse mixture of local businesses, and enjoys solid traffic and great pedestrian walkabilty. It is in close proximity to downtown, the Bardstown Road/Baxter Avenue, and the booming Lexington Road corridor (which has tons of new apartment development slated soon). The building would be well suited for an adaptive re-use project that could include leasing to a tenant for investment, or an owner-occupant. A buyer could also continue the hardware store operation. This presents a very unique opportunity to acquire a well-known fixture in the local market.
Is this another victim of the vacant Lynn’s Paradise Cafe or just time to call it quits? “Immense character and high exposure,” sure; but foot-traffic on the Barrett corridor has all but stalled. Most storefronts that have vacated the area in the last year or so, like Revelry and Nuts N Stuff, remain empty or have been filled by hair salons — places unlikely to increase pedestrian interest.
Maybe this could be the start of a turnaround…
Louisville’s Six Sigma Laboratories first company in XLerateHealth’s 2015 cohort
Six Sigma Laboratories is a health care company headquartered on South Floyd Street and created by pharmacists Sam and Jamie Lee. Its first product is NormaLyte, rehydration salts that are a less expensive (and according to the creators, superior) alternative to Pedialyte.
The proprietary formula is based on the new recommended formula published by the World Health Organization. It is a powder that you add to water to up its hydration power. Unlike Pedialyte, NormaLyte does not have a salty taste. The product is safe for children and seniors and contains no animal products.
NormaLyte has humanitarian uses as well. The fact that the product is a powder, not a liquid, makes transportation of it much less challenging. The website states: “What provides a convenience for you provides a small miracle for parts of the world where dehydration, due to disease, kills countless individuals who have no access to an IV. NormaLyte’s ease of portability and use provides some of the same benefits of an IV and reduces the need for hospitalization by up to 40 percent.”
To that end, the company partnered with Project Hope to provide free rehydration salts during the Ebola epidemic.
The product is available on Amazon and in several local pharmacies.