8-Unit Apartment
For Sale
$584,000
105 Loveless Lane, Somerset, KY 42503
Commercial Sale, Somerset, KY
Property Size4,860 SF
Lot Size0.84 Acres
Price / SF$120.16
Days on Market26
Property Features for 105 Loveless Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bathroom 7, Bathroom 1, Bathroom 8, Bathroom 6, Bathroom 2, Bathroom 4, Bathroom 5
Subdivision
Somerset City
Directions
From Hwy 27, head east on Hwy 80. Turn left on Hwy 1247, then make a left onto Elliott St, then make a right onto Loveless Lane. The property is at the end of the road.
Standard status
Active
APN
060-6-1-28
Size
4,860 SF
Lot size
0.84 Acres
Utilities
Utilities
Phone Available
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
1970
Floors in Building
2
Listing Agency:
Weichert Realtors Ford Brothers, Inc.
(606) 679-2656
Listed By:
C Matt Ford · License #200610
(606) 271-1691
Added: Aug 19
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# 26022512
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.
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 4,860 square feet on a 0.839-acre parcel. The unit mix consists of eight one-bedroom, one-bath apartments, and the property is currently occupied. Built in 1970, the building uses electric heating and electric cooling.
Located at 105 Loveless Lane in Somerset, Kentucky, the property also has phone service available. The site offers a compact multifamily configuration with separate residential units and eight bathrooms.
Located at 105 Loveless Lane in Somerset, Kentucky, the property also has phone service available. The site offers a compact multifamily configuration with separate residential units and eight bathrooms.
Key Highlights
- 8‑unit apartment building with eight 1‑bedroom, 1‑bath units
- 4,860 square feet on 0.839 acres
- Currently occupied property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$660,280
$660.3K
Cap Rate 7%
$471,629
$471.6K
Cap Rate 9%
$366,822
$366.8K
Market Conditions
NOI Build-Up for 4,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.0K $12.96/SF
− Vacancy
−$3.0K −$0.61/SF
EGI
$60.0K $12.35/SF
− OpEx
−$27.0K −$5.56/SF
NOI
$33.0K $6.79/SF
Area
Pulaski County, KY
Vacancy
4.70%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$660,280
Cap Rate 7%
$471,629
Cap Rate 9%
$366,822
Alternative Uses
Best Use
Apartment 5plus
$471.6K
$412.7K – $550.2K
NOI $33,014 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$828.0K
$724.5K – $966.0K
NOI $57,958 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 42503, KY
24,670
Population
11,588
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
85%
High-School Grad
129.5 sq mi
ZIP Area
191
Density / Sq Mi
$53,377
Median Household Income
$35,319
Median Earnings
$873
Median Rent
$198,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Occupied apartment property with eight one-bedroom, one-bath residences and electric heating and cooling.
Where is this apartment building located?
The property is located at 105 Loveless Lane Somerset, KY.
What is the asking price?
The asking price for this property is $584,000.
What are key features of this property?
This property features: 8‑unit apartment building with eight 1‑bedroom, 1‑bath units; 4,860 square feet on 0.839 acres; Currently occupied property
