315 W 3rd Street,Frankfort, KY 40601
Frankfort, KY 40601
Description
Unique business opportunity in the heart of historic South Frankfort. This property offers over 6,400 square feet of finished space across two separate residences, creating multiple possibilities for short-term rental use, a bed and breakfast concept, multigenerational living with income potential, or an owner-occupied investment setup. The main residence offers 4,224 square feet with 5 bedrooms, 3.5 bathrooms, original hardwood floors, beautiful crown molding, a handcrafted carved staircase, soaring ceilings, 6 fireplaces throughout, including 2 gas fireplaces, and a spacious first-floor primary suite. The kitchen features granite countertops and stainless steel appliances, and one of the standout features of the home is the wraparound front porch with hardwood flooring that was recently refinished with a specialty outdoor finish. Behind the main home is a fully furnished 1,600 square foot guest house with 3 bedrooms and 1.5 bathrooms. The guest house features granite countertops, stainless steel appliances, and a new roof, and is currently listed as an Airbnb. This existing short-term rental setup provides a strong starting point for a buyer looking to continue rental use or explore expanding the property's income-producing potential. The layout allows for several possible business models. A buyer could live in one residence while renting the other, continue operating the guest house as a short-term rental, explore using the main residence as a larger short-term rental, or consider a bed and breakfast concept. The property also includes a two-car garage connected to the guest house structure, with exterior access only and no interior access into the guest house, allowing it to function as private garage space for the main residence. With two separate residences, significant finished square footage, historic character, updated kitchens, private garage parking, and an existing Airbnb presence, this South Frankfort property offers a rare opportunity for a buyer looking for both real estate and business potential. Buyer to verify zoning, permitting, licensing, and intended use. STR Financials available upon request.
Details
| MLS # | 26014537 |
|---|---|
| Listing Type | For Sale |
| Style | Business |
| Sub-Type | Resale |
| Status | Active |
| Year | 1904 |
| Days On Site | 64 |
| Listing Provided By | Marshall Lane Real Estate | Jennifer Woods |
Features
| SQ Feet | 5,824 |
|---|---|
| Acreage | 0.29 |
Interior
| Cooling | Heat Pump |
|---|---|
| Heating | Heat Pump |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Area Information
| State | KY |
|---|---|
| County | Franklin |
| City | Frankfort |
| Zip Code | 40601 |
| Area | 014 Franklin County |
| Subarea | Franklin County |
| Community Name | South Frankfort |
| Listing VS Median (in South Frankfort) | |
Price: $1,123,000 low | high Med: $317,400 sqft: 5,824 low | high Med: 1,931 $ / sqft: $193 low | high Med: $164 On site: 64 low | high Med: 104 | |
Market Activity 40601
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Learn More About This Property
| State | KY |
|---|---|
| County | Franklin |
| City | Frankfort |
| Zip Code | 40601 |
| Area | 014 Franklin County |
| Subarea | Franklin County |
| Community Name | South Frankfort |
| Listing VS Median (in South Frankfort) | |
Price: $1,123,000 low | high Med: $317,400 sqft: 5,824 low | high Med: 1,931 $ / sqft: $193 low | high Med: $164 On site: 64 low | high Med: 104 | |
 | $1,123,000315 W 3rd StreetFrankfort, KY 40601 |