21 Shelby StFlorence, KY 41042

Property Details for 21 Shelby St

Year built

1994

Construction

TYPE NOT SPECIFIED

Property size (Sq ft)

1,968 SF

Property type

Retail properties

Property subtype

Auto shops

APN

061.01-26-006.00

APU

61012600600

Description

This exceptional mixed-use property, located at 21 Shelby St, Florence, KY 41042, presents a compelling investment opportunity. The 1,968 square foot building, constructed in 1994 and renovated that same year, sits on a 0.29-acre lot (APN: 061.01-26-006.00). Currently zoned FMS, it offers a versatile layout suitable for a variety of commercial uses, including office and auto shop spaces. The property boasts ample parking, a significant advantage for both employees and clients. Its strategic location in Boone County provides easy access to major transportation arteries and highways, ensuring convenient commutes and efficient logistics. The building's proximity to key business centers and amenities further enhances its appeal. This well-maintained property is move-in ready, offering immediate occupancy and the potential for a high return on investment in a thriving market. The asking price is $575,000, translating to $292.17 per square foot. This represents a strong value proposition for investors seeking a profitable commercial venture in a desirable Kentucky location.

• CAP approach

  CAP return

  Valuation

  6%

  $427,221

  6.5%

  $394,358

  7%

  $366,190

• Comparable approach

  Method

  Valuation

  Relative Method

  $615,903

  Geo Method

  $615,903

• Alternative Use

  Use

  Valuation

  Residential

  $332,656

  Hospitality

  $304,711

  Educational

  $253,516

  Medical

  $262,235

  Retail

  $394,358

Location Insight

City

Florence

County

Boone

State

Kentucky

Latitude

39.0016

Longitude

-84.629

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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