Historic Downtown Frankfort Opportunity

Retail-Commercial for Sale
Also listed as Office, Multi-Family
Catylist Listing ID: 30820520
Building Size (RSF): 8,100 SF
Gross Building Area: See Agent
Sale Price: $895,000
Unit Price: $110.49 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/26/2023

Overview / Comments

This rare, historical opportunity is located on a prominent corner in the heart of the Kentucky Capital City’s historic downtown district. The building is located on the prominent corner of St. Clair Street and West Broadway Street and overlooks the historic Old State Capitol and surrounding park-like setting. The subject property includes a total of approximately 8,100 sf that is comprised of two separate, two-story spaces. They are easily interconnected. The current businesses will be vacating the property. CB zoning permits retail, office and multifamily uses.

The vibrant, surrounding area features independently-owned businesses that include bookstores, antique shops, art galleries, and merchants selling local Kentucky crafts. There are also numerous restaurants. St. Clair Street enjoys year round events that draw people to the street for outdoor activities. It is also undergoing a resurgence with several new developments that include multifamily and hotel projects.

This opportunity is ideal for a variety of buyers, including developers who wish to undertake an adaptive use project, owner-users looking for live-work opportunities or ancillary income from leasing additional space, and also a pure investor who just wishes to lease the current spaces.

Additional Details

Nearest MSA: Frankfort
County: Franklin
Tax ID/APN: 061-24-10-014.00
Zoning: CB

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,045 28,026 40,416
Median Age: 38.69 37.81 38.92
Households: 2,012 12,073 17,134
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