Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Portfolio in Paducah, KY Title is generated by Realmo AI

    704 Milliken Road, Paducah, KY 42001

    View on Map
    Claim this Listing
    For Sale
    $8,870,000

    Commercial - Paducah, KY

    Added:
    Jan 8, 2026
    Days on Market:
    151
    Last Refresh:
    Jun 8 at 6:06 am

    Property Features for 704 Milliken Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    Building Details

    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Kathleen Gillespie
    Kathleen Gillespie

    Listing agent Kathleen Gillespie License #222131

    Listing office eXp Realty, LLC 2303 Hurstbourne Village Dr, Prospect, KY

    Listing date Jan 8, 2026

    MLS# 135197 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

    • 64‑door residential portfolio with single‑family homes and small apartment buildings.
    • Geographically concentrated in Paducah, KY, for efficient management.
    • Combines stable in‑place income with significant value‑add potential.
    • Professionally managed through AppFolio Property Management System.
    • Many properties are clustered, minimizing management complexity.
    • Long‑term tenants and below‑market rents present an opportunity for increased revenue.

    Overview

    This residential portfolio comprises 64 doors, including single-family homes and three properties with 3-4 apartments each, presenting a unique investment opportunity in Paducah, KY. The geographically concentrated and operationally efficient collection of assets offers a combination of stable in-place income and significant value-add potential. The portfolio benefits from strong management systems, long-term tenants, and below-market rents. The properties are clustered within the same streets or blocks, which minimizes management complexity and reduces operational costs. The portfolio is professionally managed through the AppFolio Property Management System, providing comprehensive digital records and transparent reporting. Each property has its own deed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Pharmacy Accounting Firm Auto Repair Shop Big Box & Wholesale Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Paducah
    County
    McCracken
    State
    Kentucky
    Longitude
    -88.5677295
    Latitude
    37.0353727

    Nearby Similar for Sale

    • $3,200,000
      11,000 SF

      New Office Investment Opportunity

      New construction office building in Paducah's growing commercial corridor.
      2181 New Holt Rd., Paducah, KY 42001
      View Details
    • $489,000
      15,000 SF

      Downtown Paducah Commercial Property

      Versatile property with warehouse and showroom space in downtown Paducah.
      901 Broadway, Paducah, KY 42001
      View Details
    • $299,000
      4,000 SF

      Paducah Commercial Property with Warehouse

      5.25 acre tract with warehouse near I-24.
      4549 Cairo Road, Paducah, KY 42001
      View Details
    • $699,900

      Paducah Commercial Warehouse/Office Property

      25,600 sq ft commercial building with warehouse and office space.
      303 N 13th St, Paducah, KY 42001
      View Details
    • $885,000

      Multi-Level Commercial Investment Opportunity

      Historic building with modern updates and limitless potential in Paducah.
      608-612 Broadway, Paducah, KY 42001
      View Details
    • $699,900

      Paducah Commercial Property with Warehouse

      Commercial property with office and warehouse space in Paducah.
      3530 Park Plaza Rd, Paducah, KY 42001
      View Details
    • $399,900
      9,000 SF

      Midtown Paducah Commercial Property

      Expansive commercial property in the heart of Midtown Paducah.
      2421 Broadway Street, Paducah, KY 42001
      View Details
    • $870,000

      Turn-Key Restaurant in Paducah, KY

      Fully operational restaurant and bar on 1.23 acres near I-24.
      3501 Park Plaza Road, Paducah, KY 42001
      View Details
    • $224,900
      200 SF

      Commercial Retail with Storage Building

      One-story retail building with storage and parking on 0.43 acres.
      721 Kentucky, Paducah, KY 42001
      View Details
    • $650,000

      Unique Mixed-Use Building in Paducah

      19,963 SF mixed-use building suitable for various business ventures.
      420 Broadway, Paducah, KY 42001
      View Details
    • $365,000
      4,062 SF

      Paducah Commercial Building For Sale

      Commercial building with retail space available in Paducah, Kentucky.
      1401 Broadway St., Paducah, KY 42001
      View Details
    • $475,000

      Established Retail Business Opportunity

      Established business for sale with loyal customer base.
      3215 Central Ave, Paducah, KY 42003
      View Details

    FAQs

    What type of property is this?
    Single family property - 64-door residential portfolio with value-add potential in Paducah, KY.
    Where is this single family property located?
    The property is located at 704 Milliken Road Paducah, KY.
    What is the asking price?
    The asking price for this property is $8,870,000.
    What are key features of this property?
    This property features: 64‑door residential portfolio with single‑family homes and small apartment buildings.; Geographically concentrated in Paducah, KY, for efficient management.; Combines stable in‑place income with significant value‑add potential.
    (270) 331-4747
    We can help!
    Listing Contact
    Kathleen Gillespie
    Kathleen Gillespie
    Real Estate License ID: 222131
    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

    Thank You for Inquiry
    704 Milliken Road, Paducah, KY 42001
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!