Building Details

Year Renovated 2020

Buildings 1

Stories 2

Construction brick

Tenancy Multi

Listing Agency: Thwaites Realtors LLC c***@yahoo.com Show Phone

Listed By: Donna A Thwaites · License #209816 Show Phone

Source: Exprealty

Added: Aug 31 Changed: Oct 15 Last Checked: Oct 20 at 10:39PM

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Investment Insights

Based on property information with market context.

This two-story brick mixed-use building contains a commercial storefront at street level and two two-bedroom apartments above. The property measures 2,000 square feet and includes a private grassed garden area behind the storefront. The building’s original character remains evident in the exposed tall ceilings and restored hardwood flooring across much of the interior.

A comprehensive renovation completed in 2020 addressed the roof, HVAC, plumbing, electrical systems, and much of the drywall. The storefront is currently leased, while the two residential units provide additional rental space within the same building. Showings require 48-hour notice.

Key Highlights

• 2,000‑square‑foot two‑story brick mixed‑use building
• Street‑level storefront is currently leased
• Two upstairs 2‑bedroom apartments

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,320

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$386,400 $386.4K

Cap Rate 7%

$276,000 $276.0K

Cap Rate 9%

$214,667 $214.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$33.6K $16.80/SF

− Vacancy

−$2.7K −$1.34/SF

EGI

$30.9K $15.46/SF

− OpEx

−$11.6K −$5.80/SF

NOI

$19.3K $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 Rate 5%

$386,400

Cap Rate 7%

$276,000

Cap Rate 9%

$214,667

Alternative Uses

Best Use

Mixed Use

$276.0K

$241.5K – $322.0K (±1% cap)

NOI $19,320 @ 7.0% cap · market cap 5.52%

Second Best

Retail

$271.9K

$237.9K – $317.2K (±1% cap)

NOI $19,031 @ 7.0% cap · market cap 5.44%

Theoretical Best

Office A

$506.9K

$443.5K – $591.4K (±1% cap)

NOI $35,482 @ 7.0% cap · market cap 10.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Pharmacy Big Box & Wholesale Store HVAC Service Bakery Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

458

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 Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two-story property combines a leased storefront with two upstairs two-bedroom apartments and a private rear garden.

Where is this mixed-use property located?

The property is located at 720 Main St Paris, KY.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: 2,000‑square‑foot two‑story brick mixed‑use building; Street‑level storefront is currently leased; Two upstairs 2‑bedroom apartments