Historic Income Property in
339 Main Street, Paris, KY 40361
- Added:
- Apr 12, 2026
- Days on Market:
- 35
- Last Refresh:
- May 16 at 9:06 pm
Property Features for 339 Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking
- 5
- Standard status
- Active
- APN
- 026-70-31-007.00
- Size
- 10,362 SF
- Lot size
- 0.09 Acres
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1899
- Floors in Building
- 4
- Building materials
- Brick, Stone
Listing agent Alysia Niva License #252766 (408) 832-7660
Listing office Century 21 Advantage Realty - Georgetown 137 E Main Street, Georgetown, KY (502) 557-8600
Listing date Apr 12, 2026
MLS# 26007687
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.
HighLights
- Historic income‑producing property in Downtown Paris, KY.
- Multiple long‑term leases in place with street‑level tenants.
- Three 1‑bedroom/1‑bath apartments with full kitchens and laundry hookups, serviced by an elevator.
- Also includes 3 Ardery Place and 5 Ardery Place, offering additional office and residential rental opportunities.
- Five dedicated parking spaces plus ample street parking, including handicapped spaces.
- Residential apartments are fully renovated or currently undergoing renovation.
Overview
This historic income-producing property, known as The Old Bank Building, is located in Downtown Paris, Kentucky. Constructed in 1899, the four-story building features an art deco facade. The property includes multiple long-term leases with two street-level tenants. The main building houses three apartments, each with one bedroom, one bathroom, a full kitchen, and laundry hookups. An elevator provides access to the upper-level tenants. Also included are the adjacent brick buildings at 3 Ardery Place and 5 Ardery Place, located behind the bank near the Courthouse. 3 Ardery Place features an office area on the street level and a potential living area or additional office space on the second floor. 5 Ardery Place includes a first-floor office space and an upstairs apartment accessible from the rear. A conference room is available for hourly rental. The attic area can be used for storage or finished as a loft-style apartment. There are five dedicated parking spaces, with additional street parking available, including handicapped spaces. All residential apartments have been renovated or are currently under renovation. The property size is 10,362 square feet and the lot size is 0.09 acres.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.62M
NOI $145,706 @ 9.00% cap · cautious / downside scenario
Moderate
$2.08M
NOI $145,706 @ 7.00% cap · market / base-case scenario
Aggressive
$2.91M
NOI $145,706 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $223.8k | $21.60 |
| − Vacancy | −$29.5k | −$2.85 |
| EGI | $194.3k | $18.75 |
| − OpEx | −$48.6k | −$4.69 |
| NOI | $145.7k | $14.06 |
10,362 SF · lease $21.60/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.08M
$1.82M – $2.43M
NOI $145,706 @ 7.0% cap · market cap 8.83%
Second Best
Mixed Use
$1.43M
$1.25M – $1.67M
NOI $100,097 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$2.63M
$2.30M – $3.06M
NOI $183,830 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Paris
- County
- Bourbon
- State
- Kentucky
- Longitude
- -84.249935
- Latitude
- 38.212467
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Historic mixed-use property with multiple income streams in downtown Paris.
Where is this mixed-use property located?
The property is located at 339 Main Street Paris, KY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Historic income‑producing property in Downtown Paris, KY.; Multiple long‑term leases in place with street‑level tenants.; Three 1‑bedroom/1‑bath apartments with full kitchens and laundry hookups, serviced by an elevator.
