2400 Main StCorbin, KY 40701

Property Details for 2400 Main St

Year built

2000

Construction

STEEL FRAME

Lot size

3.23 AC

Property size (Sq ft)

11,000 SF

Zone code

COMMERCIAL

Property type

Commercial real estate

APN

138-00-00-001.07

APU

138000000107

Description

This exceptional commercial property, located at 2400 S Main Street in Corbin, KY, presents a unique investment opportunity. The property boasts a substantial 5,264 square feet of versatile space, strategically situated on a generous 1.1-acre lot directly on Main Street within city limits. The property includes a 9,945 square foot office building seamlessly connected to a 4,681 square foot warehouse. The warehouse features five garage bays, each equipped with 14-foot overhead garage doors, providing ample space for storage or operations. A separate electrical meter with three-phase electricity ensures efficient power management, complemented by two overhead gas heaters for climate control. Upstairs, the warehouse offers additional storage space, a convenient conference room, two full bathrooms, and washer/dryer hookups. The office area is equally impressive, featuring a welcoming reception area, a dedicated conference room, seven individual offices, a mop sink room, a technology/computer room, a fully equipped kitchen, and two multi-stall bathrooms. The property also includes a paved parking lot with over 40 spaces, enhancing convenience and accessibility. A comprehensive security system is in place for added peace of mind. This property is priced at $1,100,000 and offers a compelling blend of office and warehouse space, making it ideal for a variety of commercial uses.

• CAP approach

  CAP return

  Valuation

  6%

  $2,138,920

  6.5%

  $1,974,390

  7%

  $1,833,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $935,033

  Geo Method

  $946,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,812,380

  Retail / Commercial

  $1,969,600

  Mixed-Use / Specialty

  $1,974,110

  Hospitality / Lodging

  $1,463,350

  Office

  $1,974,390

  Institutional / Educational

  $2,056,400

  Residential Income

  $2,405,980

  Multifamily

  $2,821,700

  Automotive / Energy

  $1,762,630

  Parking / Income-Based Land

  $596,871

  Restaurant / Food Service

  $1,051,350

  Healthcare / Senior Housing

  $2,012,590

Location Insight

City

Corbin

County

Whitley

State

Kentucky

Latitude

36.9248

Longitude

-84.0903

CBSA code

30940

CBSA name

LONDON, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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