Mixed-Use Building with Detached
For Sale
$699,000
218 S Maple Street, Winchester, KY 40391
A main-floor office, two upstairs apartments, basement storage, and on-site parking support multiple uses.
Property Size6,110 SF
Price / SF$114.40
Days on Market50
Property Features for 218 S Maple Street
General Information
Standard status
Active
Size
6,110 SF
Property subtype
Mixed Use
Additional Details
Condition
Move-in Ready
Multifamily Units
2
Building Details
Building Size
6,110 SF
Year Built
1814
Stories
2
Listing Agency:
Steven D Adams Real Estate Services, LLC
Listed By:
Steven D Adams
(859) 749-0387
Source:
Horseandhomeestates
Added: Sep 9
Changed: Oct 28
Last Checked: Oct 26 at 2:18PM
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 Steven D Adams Real Estate Services, LLC
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Investment Insights
Based on property information with market context.
This two-story mixed-use property contains an office on the main level and two apartments above, each served by an outside walk-up entrance. The building totals 6,110 square feet and includes an unfinished basement for storage and access to mechanical systems. A detached three-bay garage provides additional parking and storage space.
An asphalt parking lot accommodates more than 25 vehicles. The building was constructed in 1814.
An asphalt parking lot accommodates more than 25 vehicles. The building was constructed in 1814.
Key Highlights
- 6,110‑square‑foot, two‑story mixed‑use building
- Main‑floor office with two apartments on the upper level
- Apartments have separate outside walk‑up entry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,023
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,180,460
$1.2M
Cap Rate 7%
$843,186
$843.2K
Cap Rate 9%
$655,811
$655.8K
Market Conditions
NOI Build-Up for 6,110 SF
Gross rent
$102.6K $16.80/SF
− Vacancy
−$8.2K −$1.34/SF
EGI
$94.4K $15.46/SF
− OpEx
−$35.4K −$5.80/SF
NOI
$59.0K $9.66/SF
Area
Clark County, KY
Vacancy
8.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,180,460
Cap Rate 7%
$843,186
Cap Rate 9%
$655,811
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,916 @ 7.0% cap · market cap 12.29%
Second Best
Healthcare Medical
$925.1K
$809.5K – $1.08M
NOI $64,756 @ 7.0% cap · market cap 9.26%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,396 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A main-floor office, two upstairs apartments, basement storage, and on-site parking support multiple uses.
Where is this mixed-use property located?
The property is located at 218 S Maple Street Winchester, KY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 6,110‑square‑foot, two‑story mixed‑use building; Main‑floor office with two apartments on the upper level; Apartments have separate outside walk‑up entry
