315 W 3rd Street, Frankfort, KY 40601

New Listing
$1,128,000
Property Type: Business Opportunity Square Footage: 7,000 Lot Size (sq. ft.): 12,474 Status: Active
Current Price: $1,128,000 List Date: 6/22/2026 Last Modified: 6/22/2026

Overview

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, s ...

Listing Details MLS# 26014537

Listing Information

Comp Sale YN
No
Property Sub Type
Business

Status Change Information

Status Change Timestamp
2026-06-22

Address

County
Franklin
Street Number
315
Street Direction Prefix
W
Street Name
3rd
Street Suffix
Street
State
KY
Zip Code
40601
Zip +4
2703
Parcel Number
062-13-13-004.00

Contract

Original List Price
1128000
Start Showing Date
2026-06-22
Listing Contract Date
2026-06-22
Listing Agreement
Exclusive Right To Sell
Occupant Type
Occupied
Office Exclusive YN
No
List Price/Acre
3890996.9

Tax Legal

MLS Area Major
014 - Franklin County
Subdivision Name
South Frankfort

Building

Living Area
5824
Living Area Units
Square Feet
Living Area Source
Plans
Building Area Total
7000
Building Area Source
Estimated
Building Area Units
Square Feet
Year Built
1904

More Information

Lot

Lot Size Acres
0.2899
Lot Size Square Feet
12474

Utilities

Cooling YN
Yes
Heating YN
Yes

Remarks

Public Remarks
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.

Building and Property Details

Furniture, Fixtures & Equipment YN
Yes
Building Expansion Potential YN
No

Business Details

Balance Sheets YN
Yes
Copy of Lease YN
No
Customer Contracts YN
No
License and Permits YN
Yes
Owned Real Estate YN
Yes

Showing Information

Showing Instructions
Listing agent will open but will allow for buyer's agent to privately show.

Tax & Legal

Directions
From Capital Ave to W Third

Cooling

Heat Pump
Yes

Heating

Heat Pump
Yes

Business Type

Other
Yes

Sale Or Lease Includes

Building(s)
Yes
Business
Yes

Showing Requirements

Call Listing Agent
Yes
Showing Service
Yes

Property Features

Business Type: Other Cooling: Heat Pump Heating: Heat Pump Sale Or Lease Includes: Building(s); Business Showing Requirements: Call Listing Agent; Showing Service
Listing Office: Marshall Lane Real Estate
Last Updated: June - 22 - 2026
Information deemed reliable but not guaranteed.