Personal Storage Garage
For Sale
$209,000
1070 Elizabeth Street, Nicholasville, KY 40356
COMMERCIAL - Nicholasville, KY
Property Size1,656 SF
Price / SF$126.21
Days on Market216
Property Features for 1070 Elizabeth Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
1
Subdivision
Commercial
Directions
Outbound Nicholasville Rd. Right onto Elizabeth St. Go all the way back to the gate. Enter Code. Call Listing agent.
Standard status
Active
APN
056-00-00-005.II
Size
1,656 SF
Utilities
Utilities
Water Available
Amenities
common area lounge
restrooms with showers
kitchenette
individually coded door/gate access
peg board workshop shelves
racking
Building Details
Year built
2009
Floors in Building
1
Building materials
Steel Frame, Concrete
Roof type
Metal
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
Dan Elkinson
(859) 363-6175
Added: Jan 15
Changed: Aug 4
Last Checked: Aug 19 at 6:06PM
MLS# 26001148
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.
Investment Insights
Based on property information with market context.
This garage-o-minium personal storage warehouse sits within a larger complex containing multiple individually owned units. The property includes common-area amenities such as a lounge, restrooms with showers, and a kitchenette for the owner’s use. Access is controlled with individually coded door or gate entry, and the complex is designed for energy efficiency using over-insulated walls, insulated concrete, and translucent wall panels intended to help manage electricity costs.
Unit #34 offers a 24-by-50 storage footprint along with an in-unit 24-by-24 mezzanine, for a total of 1,656 square feet of usable space. The unit is served by a 14-by-14 electric door and includes a separate man door. Interior features include pegboard workshop shelves and racking, and the ceiling height ranges from 16 feet minimum inside eave to 18 feet on a single-slope configuration.
Utilities and site improvements include sewer cleanouts under the slab, water that is connected, a 200-amp electric panel, and floor grading that slopes forward for drainage to the outside. Exterior provisions include access for RV cleanout and outside water spigots.
Unit #34 offers a 24-by-50 storage footprint along with an in-unit 24-by-24 mezzanine, for a total of 1,656 square feet of usable space. The unit is served by a 14-by-14 electric door and includes a separate man door. Interior features include pegboard workshop shelves and racking, and the ceiling height ranges from 16 feet minimum inside eave to 18 feet on a single-slope configuration.
Utilities and site improvements include sewer cleanouts under the slab, water that is connected, a 200-amp electric panel, and floor grading that slopes forward for drainage to the outside. Exterior provisions include access for RV cleanout and outside water spigots.
Key Highlights
- Large usable space: Enjoy 1,080 sq ft with an additional 576 sq ft mezzanine, totaling 1,656 sq ft.
- Secure complex: Benefit from individually coded door/gate access for enhanced security.
- Versatile usage: Suitable for RV/boat storage, business inventory, commercial/household storage, or investment rental.
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
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
171
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Individually secured storage unit in a multi-unit complex, with an electric 14-by-14 door and 24-by-50 main area.
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: Large usable space: Enjoy 1,080 sq ft with an additional 576 sq ft mezzanine, totaling 1,656 sq ft.; Secure complex: Benefit from individually coded door/gate access for enhanced security.; Versatile usage: Suitable for RV/boat storage, business inventory, commercial/household storage, or investment rental.
