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65 Highland Ave - For Sale | ±12,000 SF Church Portfolio 12,000 SF Specialty Building Offered at $299,900 at a 2.60% Cap Rate in Lancaster, KY 40444
INVESTMENT HIGHLIGHTS
- Two Adjacent Church Buildings totaling ±12,000 SF on 4 parcels
- Adjacent parking lot included for convenient on-site access
- Renovated in 2021 – newer HVAC, plumbing, and bathroom fixtures
EXECUTIVE SUMMARY
Unique opportunity to acquire two adjacent church buildings with over 12,000 square feet of combined space, located in the heart of Lancaster, KY. Positioned on four contiguous parcels, this offering includes a paved parking lot, income from an existing tenant, and excellent potential for adaptive reuse or redevelopment.
Key Features:
White Church (57 Highland Ave)
Renovated in 2021
Newer HVAC, updated plumbing, new toilets & tub
Includes upstairs studio apartment
Currently rented month-to-month for $650/mo
Brick Church (65 Highland Ave)
Former Church of the Nazarene
Large open sanctuary + partially finished basement
In need of renovation – ideal value-add
Combined ±12,000 SF of usable space
Zoned Commercial – flexible use options
4 parcels total including adjacent parking lot
Downtown location near US-27 & Courthouse Square
Public utilities available (buyer to verify)
Ideal For:
Church or Faith-Based Organization
Community Center or Non-Profit
Multi-Family or Residential Redevelopment
Event Venue or Institutional Use
Value-Add Investment Property
Key Features:
White Church (57 Highland Ave)
Renovated in 2021
Newer HVAC, updated plumbing, new toilets & tub
Includes upstairs studio apartment
Currently rented month-to-month for $650/mo
Brick Church (65 Highland Ave)
Former Church of the Nazarene
Large open sanctuary + partially finished basement
In need of renovation – ideal value-add
Combined ±12,000 SF of usable space
Zoned Commercial – flexible use options
4 parcels total including adjacent parking lot
Downtown location near US-27 & Courthouse Square
Public utilities available (buyer to verify)
Ideal For:
Church or Faith-Based Organization
Community Center or Non-Profit
Multi-Family or Residential Redevelopment
Event Venue or Institutional Use
Value-Add Investment Property
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
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PROPERTY TAXES
| Parcel Number | L2-13-023 | Total Assessment | $70,000 (2025) |
| Land Assessment | $20,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $50,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
L2-13-023
Land Assessment
$20,000 (2025)
Improvements Assessment
$50,000 (2025)
Total Assessment
$70,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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65 Highland Ave - For Sale | ±12,000 SF Church Portfolio
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