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    Remodeled Apartment Complex with RV Park Title is generated by Realmo AI

    6804 US HWY 641, Gilbertsville, KY 42044

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    For Sale
    $650,000

    1 Story, Five Or More - Gilbertsville, KY

    Added:
    Jan 25, 2026
    Days on Market:
    108
    Last Refresh:
    May 13 at 8:06 pm

    Property Features for 6804 US HWY 641

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active

    Utilities

    Heating system
    Electric (Heating), See Remarks (Heating)
    Cooling system
    Central Air, Other (Cooling)

    Building Details

    Floors in Building
    1
    Building materials
    Vinyl Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Gale Broach Sharp

    Listing agent Gale Broach Sharp License #211656

    Listing office Kopperud Realty 711 Main Street, Murray, KY

    Listing date Jan 25, 2026

    MLS# 135396 Listing URL

    Copyright © 2026 Western Kentucky Regional MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Remodeled apartment complex with adjoining RV park.
    • Less than one mile from Kentucky Lake and minutes from a TVA public boat ramp.
    • Seven apartments and six RV sites currently rented on a month‑to‑month basis.
    • Additional office space and storage building included.
    • Ideal for attracting seasonal workers, traveling professionals, and Kentucky Lake enthusiasts.
    • Potential to convert back to a motel for increased income.

    Overview

    This remodeled apartment complex with an adjoining RV Park is located less than one mile from Kentucky Lake, situated between Draffenville and Gilbertsville. It is also within minutes of the TVA public boat ramp, which features two courtesy docks. The property is currently rented on a month-to-month basis and includes seven apartments and six RV sites. Additionally, there is office space and a storage building. The location is ideal for those needing minimal space for seasonal work or regional assignments, such as construction workers, traveling medical professionals, students, and professors. It is also attractive to fishermen, hunters, and lovers of Kentucky Lake. The property presents an opportunity for full-time investment or conversion back to a motel to increase income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel Skin Care Clinic Storage Facility Car Rental Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbertsville
    County
    Marshall
    State
    Kentucky
    Longitude
    -88.297433
    Latitude
    36.969037

    Nearby Similar for Sale

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      Remodeled Apartments and RV Park

      Apartment complex with RV park near Kentucky Lake.
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      Gilbertsville Business Opportunity For Sale

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    FAQs

    What type of property is this?
    Apartment building - Apartment complex with RV park near Kentucky Lake.
    Where is this apartment building located?
    The property is located at 6804 US HWY 641 Gilbertsville, KY.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Remodeled apartment complex with adjoining RV park.; Less than one mile from Kentucky Lake and minutes from a TVA public boat ramp.; Seven apartments and six RV sites currently rented on a month‑to‑month basis.
    (270) 293-9333
    We can help!
    Listing Contact
    Gale Broach Sharp
    Real Estate License ID: 211656
    Learn More
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    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.

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