Owner-Storage Warehouse
For Sale
$209,000
1070 Elizabeth Street, Nicholasville, KY 40356
Secured self-storage unit with a built-in mezzanine, electric door, and multiple utility connections.
Property Size1,656 SF
Price / SF$126.21
Days on Market226
Property Features for 1070 Elizabeth Street
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Mixed Use
Additional Details
Utilities to Site
Yes
Clear Height
18 ft
Amenities
common area lounge
restrooms with showers
kitchenette
individually coded door/gate access
peg board workshop shelves and racking
outside RV clean out
outside water spigots
Concrete
3
Metal
1 Parking Spaces. Paved Driveway.
Building Details
Year Built
2009
Stories
1
Tenancy
Multi
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 363-6175
Listed By:
Dan Elkinson
(859) 363-6175
Source:
Xome
Added: Dec 28, 2025
Changed: Aug 7
Last Checked: Aug 11 at 5:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bluegrass Sotheby's International Realty
Investment Insights
Based on property information with market context.
This owner-storage warehouse unit is located within a larger complex of individually owned storage units. The unit includes a 24' x 24' mezzanine built inside the space and offers a total of 24' x 50' plus the mezzanine area for additional usable storage. Access is provided by a 14' x 14' electric door and a separate man door. Inside, the unit includes peg board workshop shelves and racking, and it has a ceiling height ranging from 16' minimum inside eave to 18' (single slope).
The entire property and common areas are secured with individually coded door/gate access. There is a common area lounge, restrooms with showers, and a kitchenette available for the owner’s use.
The unit is designed to operate economically with over-insulated walls, insulated concrete, and translucent wall panels intended to help manage electricity costs. Utility infrastructure includes sewer cleanouts under the slab and water connections now in place, along with a 200-amp electric panel. The floors are slightly sloped forward for positive drainage to the outside, and there is outside access provided for an RV cleanout plus outside water spigots.
The entire property and common areas are secured with individually coded door/gate access. There is a common area lounge, restrooms with showers, and a kitchenette available for the owner’s use.
The unit is designed to operate economically with over-insulated walls, insulated concrete, and translucent wall panels intended to help manage electricity costs. Utility infrastructure includes sewer cleanouts under the slab and water connections now in place, along with a 200-amp electric panel. The floors are slightly sloped forward for positive drainage to the outside, and there is outside access provided for an RV cleanout plus outside water spigots.
Key Highlights
- Garage‑o‑minium storage warehouse complex with multiple units individually owned and suitable for owner‑occupied or rental use
- Entire property is secured with individually coded door/gate access; includes common‑area lounge and restrooms with showers plus kitchenette
- Unit #34 includes a 24' x 24' (576 SF) mezzanine with 24' x 50' (1,080 SF) main area for 1,656 SF total usable space
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
$11,908
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
5.70%
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%
$238,160
$238.2K
Cap Rate 7%
$170,114
$170.1K
Cap Rate 9%
$132,311
$132.3K
Market Conditions
NOI Build-Up for 1,656 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
$14.9K $9.00/SF
− Vacancy
−$894 −$0.54/SF
EGI
$14.0K $8.46/SF
− OpEx
−$2.1K −$1.27/SF
NOI
$11.9K $7.19/SF
Area
Jessamine County, KY
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$238,160
Cap Rate 7%
$170,114
Cap Rate 9%
$132,311
Alternative Uses
Best Use
Warehouse
$170.1K
$148.9K – $198.5K
NOI $11,908 @ 7.0% cap · market cap 5.70%
Second Best
Self Storage
$149.4K
$130.8K – $174.4K
NOI $10,461 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$419.7K
$367.2K – $489.7K
NOI $29,379 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Secured self-storage unit with a built-in mezzanine, electric door, and multiple utility connections.
Where is this self storage facility located?
The property is located at 1070 Elizabeth Street Nicholasville, KY.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Garage‑o‑minium storage warehouse complex with multiple units individually owned and suitable for owner‑occupied or rental use; Entire property is secured with individually coded door/gate access; includes common‑area lounge and restrooms with showers plus kitchenette; Unit #34 includes a 24' x 24' (576 SF) mezzanine with 24' x 50' (1,080 SF) main area for 1,656 SF total usable space
