Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    512 High Street Paris, KY 40361

    View on Map
    Pending
    $215,000

    MULTI_FAMILY - Paris, KY

    Property size:
    2,728 SF
    Lot size:
    0.09 Acres
    Added:
    Sep 5, 2025
    Days on Market:
    209
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 512 High Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 3, Laundry Room, Bedroom 3, Bathroom 1
    Parking features
    Offsite
    Standard status
    Pending
    APN
    026-70-33-015.00
    Size
    2,728 SF
    Lot size
    0.09 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    3
    Roof type
    Metal, Shingle

    We can help!

    Listing Contact
    Todd McConnell

    Listing agent Todd McConnell License #213695

    Listing office McConnell Real Estate, Inc. 1833 S Main Street, Paris, KY

    Listing date Sep 5, 2025

    MLS# 25500541

    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.

    Overview

    Paris, KY Triplex Investment

    This well-maintained triplex presents an excellent investment opportunity in Paris, KY. Located in the heart of downtown Paris, Kentucky, the property offers strong rental income. The triplex features three rental units, each with separate utility meters. The main level includes two units: Unit #1 features two bedrooms and one bathroom, while Unit #2 (with exterior access) also offers two bedrooms and one bathroom. The second story level contains Unit #3, which includes two bedrooms and one bathroom. Units #1 and #2 provide washer/dryer hookups. All units are equipped with a refrigerator and electric range. The property has been recently painted, and mostly new flooring has been recently installed. Two units are ready for tenants upon possession. One unit is currently occupied with a lease in place until January 2026. The property includes an entry foyer for Units #1 and #3. The property is positioned for long-term appreciation and consistent cash flow, with convenient access to Paris' historic downtown, parks, and Bourbon County's horse country. The property is situated on a 0.091-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paris
    County
    Bourbon
    State
    Kentucky
    Longitude
    -84.251502
    Latitude
    38.211588

    Nearby Similar for Sale

    • $319,000
      3,494 SF

      Historic Mercantile Building in Paris, KY

      Updated historic building with open floor plan and modern amenities.
      723 Main Street, Paris, KY 40361
      View Details
    • $750,000
      3,066 SF

      Paris, KY Mixed-Use Property

      Highly visible mixed-use property with retail and apartment spaces.
      5761 Lexington Road, Paris, KY 40361
      View Details
    • $495,000
      7,683 SF

      Paris, KY Income Property

      Four-unit income property with renovation and historic details.
      805 - 811 Main Street unit: 805 / 807 / 809 / 811, Paris, KY 40361
      View Details
    • $269,000
      5,629 SF

      Historic Morris Building in Paris

      Circa 1860 building with office and apartment spaces.
      214-216 Main Street, Paris, KY 40361
      View Details
    • $8

      Paris Village Shopping Center For Sale

      120,784 SF shopping center anchored by Save-A-Lot Grocery.
      2000-2236 Paris By-Pass, Paris, KY 40361
      View Details
    • $920,000
      8,800 SF

      Paris, KY Townhome Apartments

      Eight-unit townhome-style apartment complex in Paris, Kentucky.
      117 Bradford Dr, Paris, KY 40361
      View Details
    • $3,055,000
      3,726 SF

      Fast Pace Health Investment Opportunity

      NNN leased Fast Pace Health in Paris, KY for sale.
      200 Letton Dr, Paris, KY 40361
      View Details

    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex in downtown Paris, Kentucky with strong rental income.
    Where is this triplex located?
    The property is located at 512 High Street Paris, KY.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: Strong rental income potential with stable rental history.; Turnkey triplex featuring three separate units, each with two bedrooms and one bathroom.; All units have separate utility meters.
    (859) 707-6824
    We can help!
    Listing Contact
    Todd McConnell
    Real Estate License ID: 213695
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!