245 W Main St

Frankfort, KY 40601

Square Ft.

8,088

Active

Multifamily

$2,995,000

Welcome to the epicenter of Bourbon Country! Situated minutes from World-Renowned distilleries, this Boutique Short-term Rental + Bourbon Bar has quickly become a thriving and trustworthy destination for Distillery-Tour Groups, Bourbon Lovers and Thoroughbred Enthusiasts from across the USA. Most recognizable as the ''Mason & Hoge'' Building, this memorable landmark… Read More of the Central Business Historic District easily justifies why its facade is featured on the front of the State Capital's tourism guide: ''Visit Frankfort''. A remarkable 3-yr, multi-million dollar restoration project was completed in 2023 that exudes the perfect harmony of a classic + swanky grandeur mixed with a modern, luxurious and quirky twist. The layout offers versatile booking flexibility (up to 28 guests) which has helped it garner high-dollar bookings that continue to increase - additional income growth opportunities exist as well. **HIGHLIGHTS** :: Stabilized, Class A Asset :: Historic District Corner Lot High Visibility :: 8,898 Gross SQFT: 8,088 FIN + 810 UF :: Central Elevator + Stairwell 1 Long-Term Tenant :: Bourbon Bar leased til Aug '28 :: 4.8-star Google Rating 3 Short-Term Suites (12 BRs, 17 Beds, 11.5 BAs) :: 6 Bed + 5 Bath (sleeps 16) :: 5 Bed + 5 Bath (sleeps 10) :: 1 Bed + 1.5 Baths (sleeps 2) :: 3 Full Kitchens + 3 Laundry Hookups :: $175,000 +/- furnishings for turn-key approach :: $82,000 +/- confirmed future bookings **CITY** The city is undergoing a rebirth known as the Downtown Frankfort Revitalization Project - a master plan near the riverfront consisting of outdoor retail, restaurants and office to further capitalize on the exploding bourbon industry and tourism within the Louisville/Bardstown/Frankfort triangle. **PROXIMITY** Situated along the Bourbon Trail, guests can easily walk/shuttle to flagship distilleries: Distilleries < 10 mins: :: Buffalo Trace (1.6 mi) :: J. Mattingly 1845 :: Glenns Creek :: Old Crow < 20 mins: :: Castle & Key :: Whiskey Thief :: Woodford Reserve < 30 mins: :: Wild Turkey :: Four Roses :: Bulleit :: Jeptha Creed Major Cities: Louisville, Lexington & Cincinnati Keeneland (30m) + Churchill Down (50m) Lexington Blue Grass Airport LEX (30m) Louisville Inter'l Airport SDF (60m) Cincinnati International Airport CVG (80m) **UPDATES** Enjoy low future CapEx due to the extensive list of upgrades following redevelopment down to the original foundation/shell. Interior: :: New Electric (wiring/panels/service/fixtures) :: New Plumbing (PVC/pex, fixtures, W/D, tankless WH) :: New Steel Framing, Double-Drywall, Insulation, Doors :: New Paint + Wallpaper :: New Elevator + Block Shaft + Voice/Data system :: New Gyp-Crete between levels (sound & fire retardant) :: New Eng. Hardwood + Sound-Damping Underlay :: New HVAC: Units, Spiral Duct, Thermostats :: New In-Unit Speaker Systems :: New Cabinets, Cambria Quartz Countertops :: GE Cafe Series Appliances :: New Tile + Glass Surrounds + Bath Vanities :: Custom Millwork & Trim Carpentry Exterior: :: Restored Front Facade w/ Mahogany Doors :: New Aluminum Clad Windows :: New Roofing + Gutters (TPO roofing) :: New Exterior Paint & Doors :: Foundations Reinforced + Metal I-Beam Joists (1st Fl) :: Commercial Space Buildout: Bar + Bar Equipment Utilities: :: Low utilities - energy efficient fixtures :: Gas, Electric + Water/Sewer separately metered (4) :: Tankless Gas Water Heaters (2nd & 3rd Fl) **HISTORY** Built in 1888, the Mason & Hoge building has its ties to two prominent business and construction leaders at the time: C.R. Mason and S. French Hoge. Today, known as Mason & Hanger, it is the oldest American Architectural Engineering firm and has been renowned for its work on the Virginia Railroad, the Chicago River Reversal, the Kentucky River Lock & Dam, the New York Lincoln Tunnel, and the Nevada Nuclear Weapons Test Site (to name a few). Read Less

Courtesy of Sean S Williams, RE/MAX Premier Properties.

Listing Snapshot

Days Online

93

Last Updated

Sep 7, 2024

Property Type

Quadplex

Square Ft.

8,088

Lot Size

0.08 Acres

Year Built

1888

MLS Number

1662553

30 Days Snapshot Of 40601

$

+28%

(avg) sold price

4

0%

homes sold

79

+61%

(avg) days on market

Snapshot

Area Map

Additional Details

Building

Architectural Style: "High Rise", Building Area Source: Other, Building Area Total: 8,088, Construction Materials: "Block", "Stone", Living Area: 8,088, Number Of Units Total: 4, Year Built: 1888

Cooling

Cooling Included, Cooling: "Heat Pump", "Central Air"

Exterior Features

Features: "See Remarks"

Heating

Heating: "Forced Air", "Natural Gas", "Heat Pump", Heating Included

Home Owner's Association

Association Fee: $0

Lot

Features: "Corner", "Sidewalk", 0.08 acres, Area: 3500, Dimensions: PVA, 3,500 square feet

Property

Parcel Number: 061-24-14-010.00, Property Sub Type: Quadplex

Roof

Roof: "Membrane"

Taxes

Tax Lot: 14

Utilities

Utilities: "City Sewer", "City Water", "Electricity Connected", "Fuel:Natural"

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Second Street School 502-875-8658 Public KG-8

Frankfort High School 502-875-8655 Public 9-12

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245 W Main St

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