3224 Winchester Ave 4,500 SF Flex Building Ashland, KY 41101 $1,013,800 CAD ($225.29 CAD/SF)

Exceptional investment or owner-user opportunity located at 3224 Winchester Ave. This versatile commercial property offers a unique combination of professional office space, high-clearance industrial bays, and a private residential suite. The main building features a welcoming lobby and four spacious offices, three of which include private bathrooms. In addition to the private suites, the facility provides well-appointed public restrooms, including a men’s room equipped with a shower. The property currently functions as a high-performing asset under a Triple Net (NNN) lease structure, with the tenant responsible for utilities and taxes, offering a streamlined transition for the next savvy investor.
The industrial portion of the building is designed for heavy-duty utility, featuring three-phase power and multiple bays. The first bay includes two manual garage doors and a specialized basement access point currently utilized for rescue training classes. The additional bays offer ample clearance for boat storage or large equipment, with seamless access to the third bay and the upper-level apartment. The on-site apartment is fully equipped with a kitchen, bedroom, and bath, providing an ideal setup for an owner-operator or on-site security.
The infrastructure is well-maintained, featuring a 14-year-old roof and three HVAC units (approximately 11 and 14 years old). The facility is highly secure, protected by a comprehensive alarm system and gated keypad entry for the main office, bays, and residential quarters. This turn-key property balances professional utility with industrial grit, making it a standout choice for any business or portfolio seeking significant monthly revenue potential.
Investment highlights
1. Passive & Predictable Cash Flow
Under the current Triple Net lease, the tenant is responsible for the "three nets": property taxes, insurance, and maintenance, in addition to all utilities. This shifts the rising costs of inflation and building upkeep onto the tenant, providing you with a consistent, "clean" monthly check without the typical headaches of property management.
2. Versatile "Flex" Industrial Appeal
The property falls into the "Small-Bay Industrial" or "Micro-Flex" category, which is one of the highest-performing sectors in 2026.
3-Phase Power: This is a major "value-add" feature that attracts specialized industrial tenants (manufacturing, fabrication, or tech) who cannot operate in standard commercial buildings.
Recession-Resilient: Because the space can be used for professional offices, heavy-duty industrial work, and specialized training (like the rescue classes), you have a much broader pool of potential tenants compared to a single-use building.
3. Low Owner Liability & High Utility
The "Apartment" Bonus: Having a fully equipped living suite on-site significantly increases the property's utility. It can serve as a perk for an owner-operator, a source of secondary rental income, or 24/7 on-site security.
Modernized Infrastructure: With the apartment-servicing HVAC only 11 years old and the roof and main units at the 14-year mark, the property is in a stable lifecycle phase where major immediate capital expenditures are less likely than in older "value-add" fixer-uppers.
4. Safety-First Infrastructure
The integrated security—including the dual-CMD alarm system and 5+ unique gated/door entry codes—protects the asset's value and reduces insurance risk, making it a highly "bankable" property for financing.