1549 Winchester Ave Ashland KyAshland, KY 41101

Property Details for 1549 Winchester Ave Ashland Ky

Year built

1900

Lot size

0.34 AC

Property size (Sq ft)

26,400 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional mixed-use property, located at 1549 & 1557-1559 Winchester Ave, Ashland, KY 41101, presents a compelling investment opportunity. The 26,400 square foot building, constructed in 1900 and extensively renovated in 2022, boasts a blend of storefront retail space and traditional office space across two stories. Currently featuring a multi-tenant occupancy, the property offers significant upside potential with an 86% vacancy rate and a strong pro forma cap rate of 12.31%. The asking price is $875,000, translating to $33.14 per square foot. The building's net operating income (NOI) is $107,736. Situated on a 0.34-acre lot in a prime downtown location, the property benefits from a hard corner with signalized access, ample on-street parking, and a private rear parking lot. Unique features include former bank vaults, a rooftop solar farm, and historic architectural details in the theater building, such as high ceilings and ornate molding. Recent street renovations have enhanced the area's appeal, adding roundabouts, new sidewalks, brick pavers, and curbs. The strong demographics of downtown Ashland, with a daytime population exceeding 63,700 within a 5-mile radius, and its location within the Huntington-Ashland metropolitan area (376,000+ residents), further solidify this property's investment value. Ashland's role as a regional economic and medical center adds to its long-term prospects. The property's APN is 030-13-09-008.00.

Location Insight

City

Ashland

County

Boyd

State

Kentucky

Latitude

38.4788

Longitude

-82.6399

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