Just cool looking. K*Mart really only sold Bicycle Shaped Objects, the real decent bikes were reserved for bike shops.

It is a Shimano 3 speed hub, the bell crank... the mechanisim the shift cable goes into on the end of the axle, tells us that. The presence of the 333 on the hub, combined with the BMA sticker in the seat tube date it somewhere in the mid 70's.

It is a fine, well preserved specimen, that properly serviced and maintained will give you years of cycling satisfaction. Ride with pride.