1021 Franklin AveLexington, MO 64067

Property Details for 1021 Franklin Ave

Year built

1880

Lot size

0.05 AC

Property size (Sq ft)

2,048 SF

Property type

Office properties

APN

03-8.0-33-1-001-106.000

APU

380331001106000

Description

This stunning two-story brick building, constructed in 1880, presents a unique investment opportunity in Lexington, MO's vibrant business district. The main floor offers a welcoming open foyer, a spacious reception area, a dedicated conference room, a convenient half-bath, a private back office, and a small break room, ideal for a variety of professional uses. Currently vacant, this space is ready for immediate occupancy and customization to suit your business needs. Upstairs, a charming one- or two-bedroom loft apartment provides additional income potential. This residential space includes a full bathroom, a dining room, a fully equipped kitchen, and a remarkable rooftop patio offering breathtaking panoramic views of Lexington's historic downtown. Enjoy spectacular sunrises and sunsets from this private outdoor oasis. The building's prime location within the heart of Lexington ensures high visibility and accessibility. This property represents a rare blend of historical character and modern functionality, making it an exceptional investment opportunity for both business owners and savvy investors seeking a blend of commercial and residential income streams. The loft apartment is currently occupied. The building sits on a 0-acre lot. The listed price is $104,900. Square footage is not provided.

• CAP approach

  CAP return

  Valuation

  6%

  $383,893

  6.5%

  $354,363

  7%

  $329,052

• Comparable approach

  Method

  Valuation

  Relative Method

  $157,026

  Geo Method

  $157,026

• Alternative Use

  Use

  Valuation

  Residential

  $439,410

  Hospitality

  $402,498

  Educational

  $334,873

  Medical

  $346,390

  Retail

  $520,914

Location Insight

City

Lexington

County

Lafayette

State

Missouri

Latitude

39.1842

Longitude

-93.8827

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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