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    121 16Th St Ashland, KY 41101

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    121 16Th St Ashland, KY 41101

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    • Office buildings
    • 0.65 lot acres
    For Sale
    $869,900
    View Listing →
    Ashland Mixed-Use Income Property For Sale
    $869,900
    10,000 SF

    Ashland Mixed-Use Income Property

    Large income-producing property in the heart of downtown Ashland.

    121 16th St, Ashland, KY 41101
    View Listing
    Property ID
    US34-1599932
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Correct Construction Inc / Construction Company / General Contractor
    • Thrive Ministries / Church
    • Brittany Hall Beauty / Cosmetic Store
    • Sculpt The Collective / Spa & Massage Center
    • Heather Lynn Photography / (Bike/Boat/Book/etc) Store / Photography Service

    Property Details for 121 16Th St

    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.65 lot acres
    Property type
    Office buildings
    APN
    030-13-04-003.00
    APU
    30130400300

    Description

    This exceptional mixed-use property, the "Identity Complex," presents a compelling investment opportunity in Ashland, KY's vibrant downtown business district. Located at 121 16th St, 41101, this three-building complex occupies nearly half a block between 16th and 15th Streets, bordering Greenup Ave and the floodwall. The 10,000 square feet of space is currently 75% occupied by six tenants, generating immediate income. Built in 1900 and extensively renovated in 2023, the property boasts a total of 10,000 square feet of air rights and features a two-story design. The property is zoned for commercial use, offering significant potential for further development. Imagine transforming additional space into lucrative loft apartments or expanding existing commercial areas. Detailed financial records are available, providing transparency and confidence in this investment. This is a rare chance to acquire a substantial income-producing asset in a thriving Kentucky location, just one block from the Delta Hotel. The asking price is $875,000, representing a price per square foot of $87.50.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Boyd
    State
    Kentucky
    Longitude
    -82.6387
    Latitude
    38.4804
    CBSA code
    26580
    CBSA name
    HUNTINGTON-ASHLAND, WV-KY-OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $984
    $50,000
    $100,000
    $150,000
    -
    $50,000
    $100,000
    $150,000

    Comparable in this City

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    • Value Estimation by Request
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      2140 29th St

      PROFESSIONAL BUILDING • 0.12 Acres
      2140 29th St, Ashland, KY 41101-4056
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      2154 Carter Ave Ste A

      PROFESSIONAL BUILDING
      2154 Carter Ave Ste A, Ashland, KY 41101-7739
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      0.35 Acres

      1511 13th St

      OFFICE BUILDING (MULTI-STORY) • 0.35 Acres
      1511 13th St, Ashland, KY 41101-3507
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    • Value Estimation by Request
      832 SF

      1013 Carter Ave

      OFFICE BUILDING (MULTI-STORY) • 832 SF
      1013 Carter Ave, Ashland, KY 41101-7421
      View Details

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    View Listing
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    121 16Th St
    Ashland, KY 41101
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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