$ 2,795,000
245 W Main St Frankfort, KY 40601
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$ 2,795,000
Est. payment | /mo
8,088 SqFt
$ 2,795,000
Est. payment | /mo
8,088 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadplex
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 8,088 sqft
Price per Sqft $345
MLS Listing ID 1662553
Style High Rise
HOA Y/N No
Abv Grd Liv Area 8,088
Originating Board Metro Search (Greater Louisville Association of REALTORS®)
Year Built 1888
Lot Size 3,484 Sqft
Acres 0.08
Property 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 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 :: Buffalo Trace (1.6 mi)
:: J. Mattingly 1845
:: Glenns Creek
:: Old Crow
:: Castle & Key
:: Whiskey Thief
:: Woodford Reserve
:: 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).
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 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 :: Buffalo Trace (1.6 mi)
:: J. Mattingly 1845
:: Glenns Creek
:: Old Crow
:: Castle & Key
:: Whiskey Thief
:: Woodford Reserve
:: 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).
Location
State KY
County Franklin
Direction 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.
Interior
Heating Forced Air, Natural Gas, Heat Pump
Cooling Heat Pump, Central Air
Exterior
Exterior Feature See Remarks
View Y/N No
Roof Type Membrane
Garage No
Building
Lot Description Corner, Sidewalk
Building Description Block,Stone, Elevator
Architectural Style High Rise
Structure Type Block,Stone
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Listed by RE/MAX Premier Properties
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