245 Main St - Hospitality FOR SALE


Frankfort, KY 40601
$2,795,000 USD
502-727-9784
245 Main St, Frankfort, KY for Sale
$2,795,000 USD
Hospitality - FOR SALE
1/83
null | Request Cap Rate

245 Main St
Frankfort, KY 40601


HIGHLIGHTS

  • Minutes to World-Renowned Distilleries
  • Bourbon Bar Tenant + STR Units
  • Extensive Renovation 2023

OVERVIEW

Welcome to the epicenter of Bourbon Country! Situated minutes from World-Renowned distilleries, this Boutique Short-term Rental + Bourbon Bar has quickly become a thriving and trustworthy destination for Distillery-Tour Groups, Bourbon Lovers and Thoroughbred Enthusiasts from across the USA. Most recognizable as the "Mason & Hoge" Building, this memorable landmark of the Central Business Historic District easily justifies why its facade is featured on the front of the State Capital’s tourism guide: “Visit Frankfort”. A remarkable 3-yr, multi-million dollar restoration project was completed in 2023 that exudes the perfect harmony of a modern, luxurious grandeur with a quirky twist. The layout offers versatile booking flexibility (up to 28 guests) which has helped it garner high-dollar bookings. (OVERVIEW) Stabilized, Class A Asset | CB Zoning | Corner Lot | High Visibility | 8,898 Gross SQFT: 8,088 FIN + 810 UF | Central Elevator + Stairwell (UNITS) 1 Commercial Tenant (4.8-star Google Rating) + 3 Short-Term Suites (Sleeps 18 - 12 BRs, 17 Beds, 11.5 BAs) + Unfinished Basement :: $175,000 +/- furnishings for turn-key approach :: $112k of confirmed future bookings (as of Sept 1st) *Seller is interested in doing a lease-back on the unfinished basement. (FRANKFORT) The city is undergoing a rebirth known as the “Downtown Frankfort Revitalization Project” - a master plan near the riverfront consisting of outdoor retail, restaurants and office to further capitalize on the exploding bourbon industry and tourism within the Louisville/Bardstown/Frankfort triangle. (PROXIMITY) Situated along the Bourbon Trail, guests can easily walk/shuttle to flagship distilleries: (10 mins): Buffalo Trace (1.6 mi), J. Mattingly 1845, Glenns Creek, Old Crow (20 mins): Castle & Key, Whiskey Thief, Woodford Reserve (30 mins): Wild Turkey, Four Roses, Bulleit, Jeptha Creed. (UPGRADES) Enjoy low future CapEx due to the extensive list of upgrades: :: New Electric (wiring/panels/service/fixtures) :: New Plumbing (PVC/pex, fixtures, W/D, tankless WH) :: New Steel Framing, Double-Drywall, Insulation, Doors :: New Paint + Wallpaper :: New Elevator + Block Shaft + Voice/Data system :: New Gyp-Crete between levels (sound & fire retardant) :: New Eng. Hardwood + Sound-Damping Underlay :: New HVAC: Units, Spiral Duct, Thermostats :: New In-Unit Speaker Systems :: New Cabinets, Cambria Quartz Countertops :: Monogram Series Appliances :: New Tile + Glass Surrounds + Bath Vanities :: Custom Millwork & Trim Carpentry :: Restored Front Facade w/ Mahogany Doors :: New Aluminum Clad Windows :: New Roofing + Gutters (TPO roofing) :: New Exterior Paint & Doors :: Foundations Reinforced + Metal I-Beam Joists (1st Fl) :: Commercial Space Buildout: Bar + Bar Equipment (UTILITIES) Low utilities thanks to energy efficient fixtures | Gas, Electric + Water/Sewer separately metered (4)| Tankless Gas Water Heaters (2nd & 3rd Fl) (HISTORY) Built in 1888, the Mason & Hoge building has its ties to two prominent business and construction leaders at the time: C.R. Mason and S. French Hoge. Today, known as Mason & Hanger, it is the oldest American Architectural Engineering firm and has been renowned for its work on the Virginia Railroad, the Chicago River Reversal, the Kentucky River Lock & Dam, the New York Lincoln Tunnel, and the Nevada Nuclear Weapons Test Site (to name a few).

FOR SALE DETAILS

PRICE

$2,795,000 USD

PRICE/SF

$314 USD /SF

# OF ROOMS

-

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mason & Hoge Building

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1888

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

CB

APN/PARCEL ID

061-24-14-010.00

ASK ABOUT THIS PROPERTY

Sean WilliamsRe/Max Premier PropertiesMore Info
502-727-9784

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Sean WilliamsRe/Max Premier PropertiesMore Info
502-727-9784

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.