245 W Main St, Frankfort, KY 40601

$2,650,000
Property Type: Multi Family Square Footage: 8,088 Lot Size (sq. ft.): 3,500 Status: Closed
Current Price: $2,650,000 List Date: 10/23/2024 Last Modified: 5/05/2025

Description

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 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 modern, luxurious grandeur with a quirky twist. The layout offers versatile booking flexibility (up to 28 guests) which has helped it garner

Supplements: 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 :: $112,000 +/- 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).

More Information MLS# 1662553

General Listing Information

REO/Bank Owned/HUD: No HOA Y/N: No HOA Annual $: 0 Status: Closed Listing Date: 2024-06-04 Listing Price: 2795000 Property Sub Type: Quadruplex

Contract Info

Disclosure: No Original List Price: 3125000

Location

Sub Area: A Deed Bk: 545 Parcel ID: 061-24-14-010.00 Pg #: 459 Block: 24 Lot: 14 Directions: I-64 to US-127 N/Lawrenceburg Rd, R on Louisville Rd, stay slightly right and becomes W 2nd St., L on Bridges St, Bridge St turns slightly right and becomes St Clair St, R on W Main St. Street #: 245 St Dir: W Street: Main St Suffix: St Area: 12-Other Counties County: Franklin State/Province: KY Zip Code: 40601 Subdivision/Condo: NONE Geo Lat: 38.198292 Geo Lon: -84.877907

Property Description

SqFt -Total Finished: 8088 Above Grade Finished: 8088 Below Grade Finished: 0 Nonconform SqFt Fin: 0 Above Grade Unfin: 0 Below Grade Unfin: 810 Sqft - Total Unfin: 810 SqFt - Source: Other First Floor Laundry: No Garage Y/N: No Basement Y/N: Yes Total Units: 4 Lot Size Dimensions: PVA Security Deposit: N Age: 136 # Parking Spaces: 0 Covered Parking: No Term/Lease: TBD # of Furnaces: 4 # of Water Heaters: 4 Separate Meters: Yes Sold As-Is: No M Struct Flood Plain: Under Review Lot SF: 3500 Year Built: 1888

Status Change Info

Status: Closed Contract Acceptance Date: 2024-10-31 Sold Date: 2025-02-28 Sold Price: $2,650,000

Architectural Style

High Rise: 1

Lot Description

Corner Lot: 1 Sidewalk: 1

Utilities

Electricity Connected: 1 Fuel:Natural: 1

Water Source

Public: 1

Sewer

Public Sewer: 1

1st Level

Total Units: 2 Living Room: 1 Bedrooms: 1 Full Baths: 1 Partial Baths: 3 Kitchen: 1 Laundry: 1

2nd Level

Total Units: 1 Living Room: 1 Bedrooms: 5 Full Baths: 5 Kitchen: 1 Laundry: 1

3rd Level

Total Units: 1 Living Room: 1 Bedrooms: 6 Full Baths: 5 Kitchen: 1

Construction

Block: 1 Stone: 1

Roof

Membrane: 1

Owner Pays

Electricity: 1 Gas: 1 Sewer: 1 Water: 1

Heating

Forced Air: 1 Natural Gas: 1 Heat Pump: 1

Cooling

Heat Pump: 1 Central Air: 1

Project Facilities

Elevator: 1

Exterior

See Remarks: 1

Green Features

Tankless Water Heater: 1

None

Current Price: $2,650,000

Property Features

Architectural Style: High Rise Construction: Block; Stone Roof: Membrane Owner Pays: Electricity; Gas; Water Project Facilities: Elevator Exterior: See Remarks Utilities: Electricity Connected; Fuel:Natural Water Source: Public Sewer: Public Sewer Heating: Forced Air; Natural Gas; Heat Pump Cooling: Heat Pump; Central Air Lot Description: Corner Lot; Sidewalk Green Features: Tankless Water Heater
Listing Office: RE/MAX Premier Properties
Last Updated: May - 05 - 2025
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