Danville Mixed-Use | Garage, Apartment & Stor 1620 Shakertown Rd 3,500 SF Retail Building Danville, KY 40422 $479,900 ($137.11/SF) 1.70% Cap Rate

1620 Shakertown Rd, Danville, KY 40422
Danville Mixed-Use | Garage, Apartment & Storage Units
Asking Price: $479,900
Building Size: ±3,776 SF | Lot Size: ±1.13 Acres
Zoning: Neighborhood Business (B-N)
Year Built: 1987 | Renovated: 2018
Cap Rate: 1.70% | Pro Forma Cap: 10.20%
Occupancy: 71% | Pro Forma NOI: $48,960
Price per SqFt: $127.10
Property Overview
Excellent mixed-use investment opportunity located along the Shakertown Road corridor in Danville, Kentucky. This property blends multiple income-producing components—garage bays, apartment, and storage units—creating diversified cash flow with strong value-add potential.
Originally designed as a car wash and automotive shop, the building’s flexible layout makes it suitable for service-based businesses, trades, or owner-occupants. The property also includes a fully built one-bedroom apartment and five rented storage units offering immediate income.
Building Features:
• ±3,776 SF two-story mixed-use structure
• 2-bay insulated garage with roll-up doors and floor drains
• Upstairs 1-bed / 1-bath apartment with private entrance
• 5 secure storage units with existing tenants
• PVC rough-in for an additional restroom buildout
• Concrete parking pad with ample on-site spaces
• Updated electric, HVAC, and roofing improvements (2018)
Investment Highlights
• Reduced Price: Now offered at $479,900 — strong basis at $127/SF
• Immediate Income: 5 rented storage units producing $680/month ($8,160/year)
• Residential Upside: Apartment can rent for $800–$900/month (tenant-paid utilities)
• Owner-User Flexibility: Garage bays ready for automotive, service, or trades
• Value-Add Potential: Lease garage bays or operate your own business on-site
• High-Visibility Corridor: Excellent exposure along US-127/Shakertown Rd
• Pro Forma Potential: $4,000+/month stabilized gross income
Financial Overview
Metric Value
Asking Price $479,900
Current NOI $8,160
Current Cap Rate 1.70%
Pro Forma NOI $48,960
Pro Forma Cap Rate 10.20%
Occupancy 71%
Units 7 Total (5 Storage, 1 Garage, 1 Apartment)
Price/SF $127.10
Location Overview
Located on Shakertown Rd / US-127, one of Danville’s most active commercial corridors, just minutes from the bypass and downtown.
• 2.2 miles to Downtown Danville
• 2.3 miles to Centre College
• 2.6 miles to Ephraim McDowell Regional Medical Center
• 1.7 miles to US-150 Bypass
Surrounded by a mix of residential neighborhoods, retail, and light industrial uses — ideal for an owner-user or small business seeking visibility and access.
Property Details
Feature Detail
Property Type Mixed-Use / Retail
Subtype Auto Shop / Live-Work
Buildings 1
Stories 2
Year Built 1987
Renovated 2018
Lot Size 49,223 SF (1.13 Acres)
APN 045-000-111
Ownership 100% Fee Simple