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    205 Otter St Danville, KY 40422

    View on Map
    Sponsored
    For Sale
    $279,000

    COMMERCIAL - Danville, KY

    Property size:
    7,600 SF
    Lot size:
    0.47 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 11 at 12:06 pm

    Property Features for 205 Otter St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    D08-014-017
    Parking
    34
    Basement
    Walk-Out Access, Walk-Up Access, Finished
    Size
    7,600 SF
    Lot size
    0.47 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Cooling system
    Electric

    Building Details

    Year built
    1949
    Floors in Building
    4
    Building materials
    Block, Brick, Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Megan Moore

    United Real Estate (859) 509-7598

    Listing agent Megan Moore

    Listing date Mar 2, 2026

    MLS# 26001625

    Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Danville Multi-Level Commercial Opportunity

    This multi-level property, located near Main Street and downtown Danville, offers visibility and accessibility, along with approximately 34 paved parking spaces. The property is suited for renovation into a commercial space, event venue, mixed-use concept, or residential conversion. The fully finished basement includes a coat room, a large fellowship hall, a utility room, and a kitchen equipped with a refrigerator, stove, and sink. It also features one full bathroom with a double vanity, three multipurpose rooms, a water fountain, and two exterior access points. The main floor features a front entry area, water fountain, a large auditorium/sanctuary, a baptismal pool, confessional, and three half baths, along with two exterior access points. The second floor includes a large multipurpose room with a potential half bath and a gallery balcony overlooking the main auditorium with exterior access. The third and fourth floors each provide an additional multipurpose room. The large unfinished attic offers more potential leading into the two finished multipurpose rooms, half bath, and exterior access. The property is being sold as-is and has a lot size of 0.465 acres with a building size of 7600 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Life PCG Church

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Boyle
    State
    Kentucky
    Longitude
    -84.764893
    Latitude
    37.643711

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    FAQs

    What type of property is this?
    Church & religious facility - Multi-level property near downtown Danville, ideal for commercial or residential conversion.
    Where is this church & religious facility located?
    The property is located at 205 Otter St Danville, KY.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: - Prime Location: Ideally situated near Main Street and downtown Danville, offering excellent visibility and accessibility.; - Adaptive Reuse Potential: Well-suited for renovation into a unique commercial space, event venue, mixed-use concept, or residential conversion.; - Substantial Functional Space: Fully finished basement with fellowship hall, kitchen, bathroom, multipurpose rooms, and exterior access.
    (859) 509-7598
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    205 Otter St Danville, KY 40422
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    Danville, KY 40422
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    205 Otter St Danville, KY 40422
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    We can help!
    Listing Contact
    Megan Moore
    (859) 509-7598
    Learn more
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