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    1638 Winchester Ave Ashland, KY 41101

    Sponsored
    For Sale
    $995,000

    Historic 4-Story Building, Endless Potential

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This iconic, four-story building at 1638 Winchester Avenue in Ashland, Kentucky, presents a unique investment opportunity. Built in 1917, this approximately 10,000-15,000 square foot structure, primarily constructed of concrete and steel, boasts a rich history as a department store, restaurant, and bar (formerly Corbie's and the Jockey Club, and known historically as the Parsons Furniture building). Located on a corner lot in a revitalizing downtown area with increasing foot traffic and a nearly completed streetscape, the property benefits from its placement within an Opportunity Zone. The building features approximately 7,100 square feet per floor (excluding the basement, which is approximately 5,500 square feet). While the windows are currently covered (except for the rear), they remain intact. Two elevators (one freight, one passenger) are present but require service/repair. The asking price is $995,000, with an occupancy date of August 14, 2024. This landmark property offers immense potential for various uses, including a boutique hotel, luxury apartments, vibrant retail spaces, or any other vision an investor may have. Its prime location and historic character make it a cornerstone of downtown Ashland, ready for a creative reimagining that preserves its unique charm and maximizes its investment potential.

    Property Features for 1638 Winchester Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,000 SF

    Building Details

    Year Built
    1917

    HighLights

    • $995,000 asking price for a 10,000‑15,000 square foot retail property.
    • Located at 1638 Winchester Ave, Ashland, KY 41101.
    • Four‑story building with basement, built in 1917, previously used as a department store, restaurant, and bar.
    • Situated on a corner lot in a high‑traffic downtown area within an Opportunity Zone.
    • Features two elevators (one freight, one passenger) needing service/repair.
    Property Profile Location Intelligence

    Current Use by Public Records

    First Baptist Church ... Baptist Church Corbie's Dress Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop 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
    -82.638611822692
    Latitude
    38.478205766674

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    FAQs

    What type of property is this?
    Individual retail property - Historic 4-Story Building, Endless Potential
    Where is this individual retail property located?
    The property is located at 1638 Winchester Ave Ashland, KY.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: $995,000 asking price for a 10,000-15,000 square foot retail property.; Located at 1638 Winchester Ave, Ashland, KY 41101.; Four-story building with basement, built in 1917, previously used as a department store, restaurant, and bar.
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    1638 Winchester Ave Ashland, KY 41101
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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
    1638 Winchester Ave Ashland, KY 41101
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