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    1500 Winchester Ave Ashland, KY 41101

    Sponsored
    For Sale
    $1,600,000

    Downtown Ashland investment opportunity. High potential, partially renovated.

    Property size:
    28,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 1500 Winchester Avenue in Ashland, Kentucky, presents a unique investment opportunity. Boasting 28,500 square feet across four stories, this 1932 building offers a blend of commercial and residential space. The asking price is $1,600,000, translating to $56.14 per square foot. The property is currently undergoing renovation, with floors two through four partially completed. These floors feature seven residential units: three two-bedroom units and one one-bedroom unit on each floor. A rooftop area provides potential for a deck or social space. The main floor and mezzanine have been prepped for development, offering considerable flexibility for future tenants or owners. Existing plans are available, or the space can be customized to individual needs. Many materials needed to complete the renovation are already on-site. The building's prime downtown Ashland location offers easy access to local amenities. The estimated occupancy date is February 23, 2024. This property combines gorgeous architecture with significant upside potential, making it an attractive investment for owner-users seeking a unique and versatile space. The building's character and charm are undeniable, and the partially completed state allows for customization and immediate value-add opportunities.

    Property Features for 1500 Winchester Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    28,500 SF

    Building Details

    Year Built
    1932
    Stories
    4

    HighLights

    • Mixed‑use building, 28,500 SF, four stories, located at 1500 Winchester Ave, Ashland, KY.
    • Asking price: $1,600,000 ($56.14/SF).
    • Under renovation; floors 2‑4 partially complete with seven residential units (three 2BR, one 1BR per floor).
    • Main floor and mezzanine ready for tenant improvements or owner‑user build‑out; existing plans available.
    • Rooftop potential; estimated completion February 23, 2024.
    • Prime downtown Ashland location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Boyd
    State
    Kentucky
    Longitude
    -82.640537265627
    Latitude
    38.479170736298

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    FAQs

    What type of property is this?
    Individual retail property - Downtown Ashland investment opportunity. High potential, partially renovated.
    Where is this individual retail property located?
    The property is located at 1500 Winchester Ave Ashland, KY.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Mixed-use building, 28,500 SF, four stories, located at 1500 Winchester Ave, Ashland, KY.; Asking price: $1,600,000 ($56.14/SF).; Under renovation; floors 2-4 partially complete with seven residential units (three 2BR, one 1BR per floor).
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    Ashland, KY 41101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1500 Winchester Ave Ashland, KY 41101
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