Individually Owned 
For Sale
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Property summary
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 profile
VerifiedCap rate & NOI
Current use
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Church
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Clothing & Fashion Store
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
COMMERCIAL · Ashland, KYZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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