Park Place Office Center | 90,000 SF Urban Redevelopment Opportunity

Highlights:

• ±90,000 SF Urban Redevelopment Opportunity: Large condemned office building offering mixed-use, medical, residential, or educational repositioning paths.
• Distressed Acquisition Well Below Replacement Cost: Condemned status enables investors to acquire a significant urban asset at a deeply discounted basis.
• Residential Conversion Upside in Urban Core: Floor plate and location may support multifamily, workforce, senior, or student housing, subject to approvals.
• High-Visibility Central Avenue Corridor Address: Positioned on Central Ave (3,307 CPD) one block from downtown Ashland and adjacent medical users.
• Commercial Zoning on a 0.75-Acre Urban Infill Site: Rare large-block footprint in a dense urban setting with flexible commercial zoning for multiple uses.
• Tri-State Regional Hub with Strong Demographics: 56,358 residents within 5 miles, $60,087 median HHI, anchored by healthcare, education, and manufacturing.

Description:

RealINSIGHT Marketplace, in partnership with Landmark Auction Services, is pleased to present 1701 Central Park Ave, Ashland, KY 41101, a ±90,000 SF condemned urban office building offered as a value-add redevelopment and investment opportunity. The asset sits on a 0.75-acre commercially zoned infill parcel at the intersection of Central Avenue and 18th Street, one block from downtown Ashland and within close proximity to the Ohio River, regional medical users, and Ashland Community & Technical College. The condemned designation enables acquisition well below historic replacement cost, providing a low-basis entry point for investors targeting adaptive reuse, residential conversion, or institutional repositioning.

The building's scale and urban location are suited to a range of redevelopment outcomes including mixed-use, multifamily, workforce or senior housing, medical office, or educational use, each subject to applicable municipal approvals. Ashland serves as the commercial and employment anchor for the Tri-State region spanning eastern Kentucky, southern Ohio, and western West Virginia, with a stable population base of 56,358 within five miles and a median household income of $60,087. The property is accessible via U.S. Route 23, U.S. Route 60, and I-64, and is surrounded by established national retail, government services, and institutional employers.

Location Prose:
Located at 1701 Central Park Ave on Ashland's high-visibility Central Avenue corridor, the property sits one block from downtown and within walking distance of Ashland Community & Technical College (2,400+ students) and the Kentucky Career Center. The Ohio River and the Kentucky/Ohio border are less than 0.5 miles north, with Boyd County Public Library and a 52-unit apartment complex immediately adjacent.

Location Stats:
- 56,358 - Estimated population within 5 miles
- $60,087 - Median household income, 5-mile radius
- 2,400+ - Students at nearby Ashland CC & Tech


For more information:
https://rimarketplace.com/auction/3258/office/ashland/ky?utm_source=brevitas&utm_medium=listing_free&utm_campaign=july15_2026&utm_content=office_3258

Bidding Opens
Jul 14, 2026 12:00 AM
Bidding Ends
Jul 16, 2026 12:00 AM