Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    723 Main St Paris, KY 40361

    View on Map
    Sponsored
    For Sale
    $319,000

    COMMERCIAL - Paris, KY

    Type:Retail
    Property size:
    3,494 SF
    Lot size:
    0.06 Acres
    Days on Market:
    109
    Last Refresh:
    Mar 14 at 4:06 pm

    Property Features for 723 Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    0267035009.00
    Parking
    1
    Parking features
    Open
    Basement
    Crawl Space
    Size
    3,494 SF
    Lot size
    0.06 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1897
    Floors in Building
    2
    Building materials
    Brick

    We can help!

    Listing Contact
    Gary Wrenn

    Wrenn Realty 9879872

    Listing agent Gary Wrenn (859) 229-7208

    Listing date Nov 25, 2025

    MLS# 25506816

    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

    Historic Mercantile Building in Paris, KY

    This historic mercantile building, situated in the heart of Paris, Kentucky, presents a unique opportunity. The building has been updated with new electric, plumbing, and zoned HVAC systems. The open floor plan provides a versatile space for various uses. The south-facing, modern-era glass storefront and entrance, along with large original double-hung style second-floor windows, allow abundant natural light to fill the interior. The original, large roof skylight location is mirrored by an 8' x 10' void on the second floor, potentially allowing light and airflow to the ground floor. Original wood floors and partially exposed brick walls add character to the space. Rear access and a freight elevator enhance the property's value and convenience. There is limited space for parking at least one car at the rear entrance, opening the potential for converting the voluminous second floor to residential use. The below-grade cellar offers walkable storage space and access below the entire first floor. Located within the Paris Main Street National Register Historic District, the new owner may be eligible for Federal and State Historic Preservation Tax Credits. The property has a lot size of 0.059 acres and a property size of 3494 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paris
    County
    Bourbon
    State
    Kentucky
    Longitude
    -84.252336
    Latitude
    38.209843

    Nearby Similar for Sale

    • $495,000
      Pending

      Paris, KY Income Property

      Four-unit income property with renovation and historic details.
      805 Main St, Paris, KY 40361
      View Details
    • $325,000
      Pending

      Historic Paris Venue For Sale

      Restored event venue in historic downtown Paris, Kentucky.
      226 Pleasant St, Paris, KY 40361
      View Details
    • New
      $269,000
      5,629 SF

      Historic Morris Building in Paris

      Circa 1860 building with office and apartment spaces.
      214-216 Main St, Paris, KY 40361
      View Details
    • $795,000
      3,066 SF

      Mixed-Use Property in Paris, KY

      Highly visible mixed-use property with retail space and renovated apartments.
      5761 Lexington Rd, Paris, KY 40361
      View Details
    • $215,000
      Pending

      Paris, KY Triplex Investment

      Well-maintained triplex in downtown Paris, Kentucky with strong rental income.
      512 High St, Paris, KY 40361
      View Details
    • $362,000

      Versatile Mixed-Use Commercial Property

      4,500+ sq ft mixed-use space in North Middletown.
      201 Main St, Paris, KY 40361
      View Details
    • Contact for pricing

      Paris Village Shopping Center For Sale

      120,784 SF shopping center anchored by Save-A-Lot Grocery.
      2000-2236 Paris By-Pass, Paris, KY 40361
      View Details
    • $3,055,000
      3,726 SF

      Paris, KY Urgent Care Center

      NNN Leased Retail Investment, High ROI
      200 Letton Dr, Paris, KY 40361
      View Details

    FAQs

    What type of property is this?
    Storefront property - Updated historic building with open floor plan and modern amenities.
    Where is this storefront property located?
    The property is located at 723 Main St Paris, KY.
    What is the asking price?
    The asking price for this property is $319,000.
    What are key features of this property?
    This property features: - Historic Mercantile building in the heart of Paris, KY, offering a unique opportunity for creative redevelopment.; - Updated with new electric, plumbing, and zoned HVAC systems.; - Rear access with freight elevator and parking space, a rare convenience on Main Street.
    (859) 229-7208
    Request Owner's contact information
    723 Main St Paris, KY 40361
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    723 Main St
    Paris, KY 40361
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    723 Main St Paris, KY 40361
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gary Wrenn
    (859) 229-7208 (859) 987-9872
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!