Brick
For Sale
$245,000
508 W Maple Street, Nicholasville, KY 40356
Residential, Nicholasville, KY
Property Size2,232 SF
Lot Size0.67 Acres
Price / SF$109.77
Days on Market13
Property Features for 508 W Maple Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Utility Room, Bedroom 1, Bathroom 2, Bedroom 2, Laundry Room, Bathroom 1
Parking features
Driveway
Interior features
Primary First Floor
Fireplace
1
Basement
Interior Entry, Partial
Appliances
Gas Range, Microwave, Oven, Range
Subdivision
Downtown
Elementary school
Nicholasville
Middle school
West Jessamine Middle School
High school
West Jess HS
Elementary school district
Jessamine County - 9
Middle school district
Jessamine County - 9
High school district
Jessamine County - 9
Directions
Traveling south on Main Street through Nicholasville; right on Maple; house is on the left. Latitude: 37.880322 Longitude: -84.580429
Standard status
Active
APN
058-10-04-006.00
Size
2,232 SF
Lot size
0.67 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Electric
Water source
Public
Building Details
Floors in Building
2
Flooring type
Tile, Vinyl, Hardwood
Building materials
Brick
Roof type
Shingle
Listing Agency:
Kentucky Land and Home
(859) 351-6953
Listed By:
Aaliyah Woodward
(859) 410-9523
Added: Sep 14
Changed: Sep 25
Last Checked: Sep 26 at 3:06PM
MLS# 26026560
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 2,232-square-foot brick duplex occupies a 0.67-acre lot in Nicholasville. Interior features include a first-floor primary bedroom, two bathrooms, a basement, utility and laundry rooms, and a fireplace. Tile, vinyl, and hardwood flooring are present, with natural gas heat and window-unit cooling.
The shingle roof was replaced in 2025, and the windows were updated in 2018. Public water and sewer serve the property, and driveway parking is available. The seller also has another property on West Maple Street listed for sale and may consider a combined sale.
The shingle roof was replaced in 2025, and the windows were updated in 2018. Public water and sewer serve the property, and driveway parking is available. The seller also has another property on West Maple Street listed for sale and may consider a combined sale.
Key Highlights
- Brick duplex with 2,232 square feet of property area
- 0.67‑acre lot
- Roof installed in 2025; windows replaced in 2018
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
$19,043
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
7.77%
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%
$380,860
$380.9K
Cap Rate 7%
$272,043
$272.0K
Cap Rate 9%
$211,589
$211.6K
Market Conditions
NOI Build-Up for 2,232 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
$28.4K $12.72/SF
− Vacancy
−$1.2K −$0.53/SF
EGI
$27.2K $12.19/SF
− OpEx
−$8.2K −$3.66/SF
NOI
$19.0K $8.53/SF
Area
Jessamine County, KY
Vacancy
4.18%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
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%
$380,860
Cap Rate 7%
$272,043
Cap Rate 9%
$211,589
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.4K
NOI $19,043 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,040 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$565.7K
$495.0K – $660.0K
NOI $39,597 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 40356, KY
44,381
Population
17,934
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
90%
High-School Grad
139.5 sq mi
ZIP Area
318
Density / Sq Mi
$75,264
Median Household Income
$41,427
Median Earnings
$1,020
Median Rent
$246,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - A 2025 roof replacement and 2018 window updates are among the property’s documented improvements.
Where is this duplex located?
The property is located at 508 W Maple Street Nicholasville, KY.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Brick duplex with 2,232 square feet of property area; 0.67‑acre lot; Roof installed in 2025; windows replaced in 2018
