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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:
6/27/2026
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.
Supplements: ********
Open Houses
Sunday, June 28, 2:00 pm - 4:00 pm
More Information MLS# 26014537
Listing Information
Comp Sale YN: No
Property Sub Type: Business
Address
Zip +4: 2703
Parcel Number: 062-13-13-004.00
County: Franklin
Street Number: 315
Street Direction Prefix: W
Street Name: 3rd
Street Suffix: Street
State: KY
Zip Code: 40601
Contract
Start Showing Date: 2026-06-22
Listing Agreement: Exclusive Right To Sell
Occupant Type: Occupied
Office Exclusive YN: No
List Price/Acre: 3890996.9
Current Price: $1,128,000
Original List Price: 1128000
Status: Active
Listing Contract Date: 2026-06-22
List Price: $1,128,000
Tax & Legal
Directions: From Capital Ave to W Third
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
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.
Cooling
Heat Pump: 1
Heating
Heat Pump: 1
Building and Property Details
Furniture, Fixtures & Equipment YN: Yes
Building Expansion Potential YN: No
Business Type
Other: 1
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
Sale Or Lease Includes
Building(s): 1
Business: 1
Showing Requirements
Call Listing Agent: 1
Showing Service: 1
Showing Information
Showing Instructions: Listing agent will open but will allow for buyer's agent to privately show.
Status Change Information
Status Change Timestamp: 2026-06-22
Tax Legal
MLS Area Major: 014 - Franklin County
Subdivision Name: South Frankfort
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 - 27 - 2026
Information deemed reliable but not guaranteed.

