24,000 Sq Ft Building and Land for Sale on Versailles Rd. Frankfort

Special Purpose for Sale
Catylist Listing ID: 30834024
Property Subtypes: Assembly/Meeting Place
Building Size (RSF): 24,103 SF
Gross Building Area: See Agent
Gross Land Area: 6.45 Acres
Sale Price: $1,100,000
Ceiling: 30 ft.
Property Use Type: Vacant/Owner-User
Usable Size (USF): 24,103 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/22/2024

Overview / Comments

Reduced sale price! New Roof! Large, classical special use building and surrounding land that is a city of Frankfort landmark and is in a great location off Versailles Rd. Currently home to a church that has been on the location for over 60 years. Includes over 24,000 square feet of space on approximately 6.5 acres of scenic, rolling land. One of the largest properties with acreage currently available in the city and has plenty of parking. The building includes a full-service kitchen, multiple offices, classrooms and large dining area. So many uses are available under the property under current zoning, including a church, elementary or secondary school, day care center, affordable housing or multi-family apartments. With approved change in zoning, it could be a wonderful event venue for weddings and large gatherings or other commercial/retail uses. Has easy access to Versailles Road retail/commercial corridor and to other areas of the City.

Additional Details

Nearest MSA: Frankfort
County: Franklin
Taxing Authority: Franklin County
Tax ID/APN: 085-22-01-004.00
Zoning: RH/RC
Property Located Between: Lyons Drive and Versailles Rd (US 60)
Property Visibility: Excellent
Largest Nearby Street: Versailles Rd (US 60)
Feet of Frontage: 400
Traffic/Vehicle Count: 34,000
Highway Access: 0.3 miles to US 460 (Georgetown Rd), 2.2 miles to I-64
Airports: 5 miles to Capital City Airport, Frankfort; 20 miles to Lexington-Bluegrass Airport
Site Description: Property includes 24,000 sq ft of building space including basements, a large sanctuary (assembly hall), at least 3 offices, multiple classrooms, nursery, conference room, chapel, 4 men's and women's restrooms, a full-size kitchen and spacious dining hall, and a detached garage. Property being sold As-Is, some improvements have been made but updates are needed. Includes approximately 6.5 acres of land with excellent visibility along Versailles Rd. Property is zoned RH/RC which allows for single-family, multi-family housing, and conditional uses are permitted including schools, day care centers, nurseries and convalescent homes.
Area Description: Property located at edge of Franklin Acres/Lyons Drive residential neighborhood, along US 60 commercial and retail corridor with a diverse mix of restaurants, banks, retail shops, and other businesses.
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 12,000 SF
Property Condition: Fair
Year Built: 1959
Year Renovated: 1970
Roof Type: Hip
Construction/Siding: Stone
Exterior Description: Exterior of large building is quarried fieldstone with wood siding as trim. Exterior trim was painted in 2021. Lawn is well-maintained and property has landscaped beds with shrubs and a wide mix of trees along the front and sides of the building and property. Sidewalks lead to the front, side and back of building. Detached 2-car garage constructed of concrete block.
Parking Ratio: 4.2 (per 1000 SF)
Parking Type: Surface
Parking Description: Includes total of 103 parking spaces; 6 handicapped spaces
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Property includes 24,000 sq ft of building space including basements, a large sanctuary (assembly hall), at least 3 offices, multiple classrooms, nursery, conference room, chapel, 4 men's and women's restrooms, a full-size kitchen and spacious dining hall, and a detached garage. Property being sold As-Is, some improvements have been made including new plumbing-toilets, sinks, and fixtures in bathroom but additional updates are needed. Asbestos mitigation was recently completed in boiler room and mechanical room.
Zoning Description: RH/RC. RH-med-density single family homes. RH- high-density multi-family homes, townhomes, churches. Conditional uses permitted include elementary and secondary schools, day care centers, nurseries, convalescent homes, professional offices and others. Future Land Use-suburban business/residential
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Ingress/Egress, Utilities
Easements Description: City Sewer easement on eastern portion of property near Versailles Rd. Electric lines. Former connection route to Jackson Street was blocked off along the NW corner of property years ago. Monitoring wells (not owned by seller) located at property's edge on right-of-way on Versailles Rd
Land Ownership: Highland Christian Church

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,987 25,846 39,268
Median Age: 37.57 38.23 39.13
Households: 3,987 11,043 16,585

Contact

Photograph of Listing Agent

Timothy E Hubbard

Exit Realty Crutcher KCREA Member
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