120 Broadway StBerea, KY 40403

Property Details for 120 Broadway St

Property size (Sq ft)

1,034 SF

Property type

Office properties

APN

B006-0015-0052

APU

B00600150052

Description

This exceptional 1,034 square foot commercial property at 120 N Broadway, Berea, KY, presents a unique investment opportunity. Situated on a sizable 0.32-acre lot, this historic building, formerly known as City Hall Jail, offers immense potential for a creative entrepreneur. The charming brick structure boasts ample space ideal for a variety of artistic endeavors, such as painting, jewelry making, or candle crafting – its previous tenant successfully operated a candle and painting business. The building's character and history provide a captivating backdrop for any creative enterprise. The adjacent lot, equally impressive, provides significant outdoor space, perfect for hosting workshops, creating a relaxing picnic area, or establishing an outdoor yoga studio. The possibilities are truly endless. This property is located in the heart of Berea's renowned craft area, ensuring high visibility and access to a thriving artistic community. The asking price is $225,000, representing a compelling investment in a prime location with significant upside potential. Don't miss this chance to own a piece of Berea's rich history and vibrant artistic landscape. This property is ready for its next chapter, and your vision could be the key to unlocking its full potential.

• CAP approach

  CAP return

  Valuation

  6%

  $177,405

  6.5%

  $163,758

  7%

  $152,061

• Comparable approach

  Method

  Valuation

  Relative Method

  $87,893

  Geo Method

  $89,007

• Alternative Use

  Use

  Valuation

  Residential

  $203,060

  Hospitality

  $186,002

  Educational

  $154,751

  Medical

  $160,074

  Retail

  $240,724

Location Insight

City

Berea

County

Madison

State

Kentucky

Latitude

37.57

Longitude

-84.2987

CBSA code

40080

CBSA name

RICHMOND-BEREA, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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