Mixed-Use Building with
For Sale
Contact for pricing
311 Main Street, Paris, KY 40361
Flexible commercial space combines an automotive garage, office area, and an upstairs apartment with separate living and kitchen areas.
Property Size1,420 SF
Price / SF$111.97
Days on Market9
Property Features for 311 Main Street
General Information
Standard status
Active
Size
1,420 SF
Total Parking Spaces
15
Property subtype
Retail, Office, Mixed Use
Additional Details
Road Access
Yes
Amenities
automotive lift
office
restrooms
apartment
kitchen appliances
washer/dryer
mini-split HVAC
replaced windows
parking
Building Details
Buildings
1
Listing Agency:
KW Commonwealth
(859) 619-4969
Listed By:
Bryan Little · License #217370
Source:
Crexi
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 6 at 10:14AM
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 KW Commonwealth
Investment Insights
Based on property information with market context.
This 1,420-square-foot mixed-use property pairs a commercial garage with an upstairs residential component. The main level includes an automotive lift, office, and two restrooms; one restroom has ventilation but lacks heating and air conditioning. Above, a one-bedroom, one-bath apartment offers an open living and kitchen layout, along with kitchen appliances and a washer and dryer.
Mini-split HVAC systems serve the office and apartment, and several windows have been replaced. The property also provides ample parking and frontage along Main Street, supporting visibility for the site. Potential commercial applications include automotive service, contractor or trade operations, retail, office, storage, and restoration uses, subject to zoning approval. The address is 311 Main Street in Paris, Kentucky.
Mini-split HVAC systems serve the office and apartment, and several windows have been replaced. The property also provides ample parking and frontage along Main Street, supporting visibility for the site. Potential commercial applications include automotive service, contractor or trade operations, retail, office, storage, and restoration uses, subject to zoning approval. The address is 311 Main Street in Paris, Kentucky.
Key Highlights
- 1,420‑square‑foot mixed‑use property with commercial and residential components
- Main‑level garage includes an automotive lift, office, and two restrooms
- Upstairs apartment has 1 bedroom, 1 bath, open living and kitchen areas
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
$13,717
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
8.63%
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%
$274,340
$274.3K
Cap Rate 7%
$195,957
$196.0K
Cap Rate 9%
$152,411
$152.4K
Market Conditions
NOI Build-Up for 1,420 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
$23.9K $16.80/SF
− Vacancy
−$1.9K −$1.34/SF
EGI
$21.9K $15.46/SF
− OpEx
−$8.2K −$5.80/SF
NOI
$13.7K $9.66/SF
Area
Bourbon 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 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%
$274,340
Cap Rate 7%
$195,957
Cap Rate 9%
$152,411
Alternative Uses
Best Use
Office B
$285.2K
$249.6K – $332.8K
NOI $19,967 @ 7.0% cap · market cap 12.56%
Second Best
Mixed Use
$196.0K
$171.5K – $228.6K
NOI $13,717 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$359.9K
$314.9K – $419.9K
NOI $25,192 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 40361, KY
18,214
Population
8,173
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
87%
High-School Grad
257.1 sq mi
ZIP Area
71
Density / Sq Mi
$57,074
Median Household Income
$36,206
Median Earnings
$793
Median Rent
$216,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space combines an automotive garage, office area, and an upstairs apartment with separate living and kitchen areas.
Where is this mixed-use property located?
The property is located at 311 Main Street Paris, KY.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,420‑square‑foot mixed‑use property with commercial and residential components; Main‑level garage includes an automotive lift, office, and two restrooms; Upstairs apartment has 1 bedroom, 1 bath, open living and kitchen areas
