# 315 W 3rd Street, Frankfort, KY 40601

> **TL;DR:** commercial, $1,073,000 ($184/sqft), built 1904, 5,824 sqft.
> A/C. Est. $5,739/mo. Listed 130 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $1,073,000 |
| Price/sqft | $184 |
| Square Feet | 5,824 |
| Year Built | 1904 |
| Lot Size | 12,628 sqft (0.29 acres) |
| Property Type | Commercial (Other) |
| Status | Active |
| Days on Market | 130 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $5,426 |
| Estimated Insurance | $313 |
| **Total** | **$5,739** |

## Key Amenities

- A/C

## Property Highlights

- Built in 1904
- 0.29 acre lot

## Description

### Agent 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.

## Location

- **Address:** 315 W 3rd Street, Frankfort, KY 40601
- **County:** Franklin
- **Neighborhood:** South Frankfort
- **Coordinates:** 38.193547, -84.878787
- **Google Maps:** https://www.google.com/maps?q=38.193547,-84.878787

## Listing Agent

- **Name:** Jennifer Woods
- **Brokerage:** Marshall Lane Real Estate
- **Broker Phone:** 502-682-6663

## Photos

![315 W 3rd Street - Photo 1](http://lh.rdcpix.com/3d37d9d70eb9789e9464be4a89f46a5al-f3327049060r.jpg)

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---

**MLS#:** 26014537 | **Updated:** 2026-10-22
**Source:** listhub

*Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://staging.propertysimple.ai/listing/315-w-3rd-street-frankfort-ky-40601-5faaadcabb4b4c1c8575072196bfb70e)

---

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