Two adjacent church buildings totaling ±12,000 SF with parking lot included in downtown Lancaster, KY. Income-producing opportunity with residential apartment and strong redevelopment potential.
Property Type:
Special Purpose
Sub Type:
Religious / Church
Square Footage:
12,000
Net Rentable (SqFt):
12,000
Units:
3
Buildings:
2
Stories:
2
Lot Size:
Corner parcel spanning 4 lots (buyer to verify)
Year Built:
1920s
Year Renovated:
2021 (White Church)
Tenancy:
Single
Occupancy:
50%
Lease Type:
Gross
NOI:
$7,800
Price per SqFt:
$29.98
Zoning:
Commercial (City of Lancaster — verify use)
Parking (Spaces):
16
Ownership:
100%
APN:
L2-13-023
Unlock a rare opportunity to acquire two adjacent church buildings totaling over 12,000 square feet in the heart of Lancaster, Kentucky. These properties offer flexible configurations for continued religious use, community development, residential conversion, or institutional repurposing.
57 Highland Ave (White Church):
• Renovated in 2021
• New HVAC, updated plumbing, new fixtures and bathtub
• Upstairs studio apartment (ideal caretaker unit or rental)
• Currently rented month-to-month for $650/month
65 Highland Ave (Brick Church – Former Nazarene):
• Classic brick construction
• Large open sanctuary space
• Full basement (partially finished)
• Ready for renovation – excellent value-add potential
Highlights:
• Two adjacent buildings totaling ±12,000 SF
• Corner lot spanning four parcels
• Zoned Commercial within Lancaster city limits
• Includes dedicated parking lot
• Ideal for conversion to community center, multi-family, or mixed-use redevelopment
• Downtown location minutes from Main Street & US-27
• Public utilities available (buyer to verify connections)
• Two buildings (±12,000 SF total) on four parcels
• Income-producing white church rented month-to-month ($650/mo)
• Renovated in 2021 with updated HVAC, plumbing, fixtures
• Brick church offers open sanctuary & basement for redevelopment
• Zoned Commercial – flexible future uses
• Corner lot with parking included
• Located in downtown Lancaster, KY near Main Street & US-27
• Public utilities available
• Excellent value-add opportunity
Asking Price: $359,800
NOI: $7,800
Cap Rate: 2.17% (Pro forma potential >6% after stabilization)
Tanner Good
Principal Broker | KYCB Commercial Brokerage
📞 859-339-8105
✉️ tanner@kycb.net
🏢 129 N 4th St, Danville, KY 40422
Full Address:65 Highland Ave, Lancaster, KY 40444, USA