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    Commercial/Residential Fourplex in Greenville, KY Title is generated by Realmo AI

    102 West Depot, Greenville, KY 42345

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    For Sale
    $249,900

    Fourplex, House w/Accessory - Greenville, KY

    Type:Quadruplex
    Property size:
    1,600 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $156/SF
    Added:
    Oct 1, 2025
    Days on Market:
    231
    Last Refresh:
    May 19 at 9:06 am

    Property Features for 102 West Depot

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Zoning
    900
    Bedrooms
    2
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
    Parking features
    Garage
    Appliances
    Refrigerator
    Standard status
    Active
    Size
    1,600 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1994
    Year renovated
    1994
    Floors in Building
    2
    Flooring type
    Laminate
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Kevin Wright
    Kevin Wright

    Listing agent Kevin Wright

    Listing office Wright Choice of Kentucky Realty & Auction 700 North Main St., Greenville, KY

    Listing date Oct 1, 2025

    MLS# 11584270 Listing URL

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

    HighLights

    • High‑traffic location in Muhlenberg County provides maximum exposure for a business.
    • Zoned commercial/residential with 1600 sq ft, offering flexibility for business or living.
    • Two lower‑level suites suitable for a small business, plus two upper‑level efficiency/studio apartments with separate entrances.
    • Income potential from short‑term rentals of the upper‑level apartments (currently $150/week per unit).
    • Recent interior remodel (less than 2 years ago) and roof replacement (less than 3 years ago).
    • Potential for conversion to additional apartments due to high demand for rentals in the area.

    Overview

    Located in Greenville, KY, this property features both commercial and residential zoning. Constructed starting in December 1994, the building offers a total of 1600 square feet of living space. The lower level contains two suites that mirror each other, each with approximately 500 square feet of open living space and a shared bath with connecting doorways. This layout is suitable for a small business or profession not requiring extensive space. The upper level includes two efficiency/studio apartments, each with separate outside entrances and a full bath with a stand-up shower/tub combo. The owner has primarily used these as short-term rentals, accommodating traveling workers, with each unit typically generating around $150 per week. The rental rate could potentially be increased. The entire building could be converted into additional apartments, given the high demand for rental properties in the area. Recent improvements include a complete interior remodel less than two years ago and a roof replacement less than three years ago. The property is located in an area with maximum traffic exposure within Muhlenberg County. The property sits on a 0.23-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jordan & Son Barber ... Barber Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Muhlenberg
    State
    Kentucky
    Longitude
    -87.180435
    Latitude
    37.212452

    FAQs

    What type of property is this?
    Quadplex - Fourplex with commercial and residential zoning in high-traffic location.
    Where is this quadplex located?
    The property is located at 102 West Depot Greenville, KY.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: High‑traffic location in Muhlenberg County provides maximum exposure for a business.; Zoned commercial/residential with 1600 sq ft, offering flexibility for business or living.; Two lower‑level suites suitable for a small business, plus two upper‑level efficiency/studio apartments with separate entrances.
    (270) 820-2060
    We can help!
    Listing Contact
    Kevin Wright
    Kevin Wright
    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.

    More about this property
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