Renovated Retail
16 N Main Street, Winchester, KY 40391
For Sale
$299,999
Commercial Sale, Winchester, KY
Property Size2,310 SF
Lot Size0.18 Acres
Price / SF$129.87
Days on Market650
Property Features for 16 N Main Street
General Information
Property type
Property subtype
Zoning description
Subdivision
Directions
Standard status
APN
Size
Lot size
Building Details
Floors in Building
Building materials
Listing Agency:
Block + Lot Homes
(859) 309-0099
Listed By:
Lara Thornbury · License KY SL3587398
(859) 771-2552
Added: Jan 30, 2025
Changed: Oct 2
Last Checked: Nov 10 at 6:06PM
MLS# 25001584
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,310-square-foot brick-and-glass storefront in downtown Winchester has undergone extensive renovation, including a new roof, four skylights, hardwood flooring, exposed beams, updated electrical and plumbing, and HVAC. The layout includes a main retail area, private rear office with a view into the sales floor, laundry room, and plumbing for four bathrooms. A rear parking lot provides on-site parking for tenants, customers, and employees.
The property is directly across from seven new apartments and shares its block with five restaurants, multiple shops, and the Leeds Center for the Arts. Downtown Winchester is located 18 miles east of Lexington with access to I-64. The offering is fully leased and carries a 10% cap rate.
The property is directly across from seven new apartments and shares its block with five restaurants, multiple shops, and the Leeds Center for the Arts. Downtown Winchester is located 18 miles east of Lexington with access to I-64. The offering is fully leased and carries a 10% cap rate.
Key Highlights
- 2,310 SF renovated retail storefront in downtown Winchester
- 10% cap rate with the property fully leased
- New roof, four skylights, hardwood floors, updated electrical, plumbing, and HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,981
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$439,620
$439.6K
Cap Rate 7%
$314,014
$314.0K
Cap Rate 9%
$244,233
$244.2K
Market Conditions
NOI Build-Up for 2,310 SF
Gross rent
$33.3K $14.40/SF
− Vacancy
−$1.9K −$0.81/SF
EGI
$31.4K $13.59/SF
− OpEx
−$9.4K −$4.08/SF
NOI
$22.0K $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 Rate 5%
$439,620
Cap Rate 7%
$314,014
Cap Rate 9%
$244,233
Alternative Uses
Best Use
Retail
$314.0K
$274.8K – $366.4K
NOI $21,981 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$251.9K
$220.5K – $293.9K
NOI $17,636 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$585.4K
$512.3K – $683.0K
NOI $40,981 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased retail space with updated building systems, customer parking, and a private rear office.
Where is this storefront property located?
The property is located at 16 N Main Street Winchester, KY.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: 2,310 SF renovated retail storefront in downtown Winchester; 10% cap rate with the property fully leased; New roof, four skylights, hardwood floors, updated electrical, plumbing, and HVAC
