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