Storefront Property with Two-Level
For Sale
Contact for pricing
1 North Main Street, Winchester, KY 40391
Recently updated storefront on a highly visible corner with upstairs and downstairs units occupied by tenants.
Property Size1,900 SF
Price / SF$118.42
Days on Market17
Property Features for 1 North Main Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Retail, Mixed Use
Zoning
B-2
Additional Details
Opportunity Zone
Yes
Corner Location
Yes
Building Details
Tenancy
Multi
Listing Agency:
Block + Lot
(859) 771-2552
Listed By:
Lara Thornbury · License #SL3587398
Source:
Crexi
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 12 at 3:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Block + Lot
Investment Insights
Based on property information with market context.
This recently updated storefront property is located on a very visible corner of Lexington Avenue and Main Street in Winchester, KY. The building is configured with upstairs and downstairs units, with tenants in both levels.
The property is within walking distance of downtown Winchester destinations and dining, including the historic Leeds Center for the Arts, along with other restaurants and shops. It is also located in an Opportunity Zone.
At approximately 1,900 square feet, the space offers a practical downtown setup for storefront-oriented operations or investment strategy centered on a multi-level layout.
The property is within walking distance of downtown Winchester destinations and dining, including the historic Leeds Center for the Arts, along with other restaurants and shops. It is also located in an Opportunity Zone.
At approximately 1,900 square feet, the space offers a practical downtown setup for storefront-oriented operations or investment strategy centered on a multi-level layout.
Key Highlights
- Very visible corner location on Lexington Avenue and Main Street
- Recently updated storefront building
- Upstairs and downstairs units with tenants in both levels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,079
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$361,580
$361.6K
Cap Rate 7%
$258,271
$258.3K
Cap Rate 9%
$200,878
$200.9K
Market Conditions
NOI Build-Up for 1,900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.4K $14.40/SF
− Vacancy
−$1.5K −$0.81/SF
EGI
$25.8K $13.59/SF
− OpEx
−$7.7K −$4.08/SF
NOI
$18.1K $9.52/SF
Area
Clark County, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$361,580
Cap Rate 7%
$258,271
Cap Rate 9%
$200,878
Alternative Uses
Best Use
Retail
$258.3K
$226.0K – $301.3K
NOI $18,079 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.5K
$421.4K – $561.8K
NOI $33,708 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Recently updated storefront on a highly visible corner with upstairs and downstairs units occupied by tenants.
Where is this storefront property located?
The property is located at 1 North Main Street Winchester, KY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Very visible corner location on Lexington Avenue and Main Street; Recently updated storefront building; Upstairs and downstairs units with tenants in both levels
