Brick-Veneer Duplex on Corner
For Sale
$430,000
1200 Tishoff Drive, Lexington, KY 40502
Residential, Lexington, KY
Property Size2,336 SF
Lot Size0.36 Acres
Price / SF$184.08
Days on Market57
Property Features for 1200 Tishoff Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Laundry Room, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 1, Bathroom 3
Parking features
Driveway
Window features
Blinds
Interior features
Primary First Floor
Fireplace
1
Basement
Crawl Space
Appliances
Dishwasher, Microwave, Refrigerator, Range
Subdivision
Lans-Merik
Elementary school
Julius Marks
Middle school
Morton
High school
Henry Clay
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
Go southbound on Chinoe Rd from Alumni Drive. Go 1.1 mile and turn right onto Pepperhill Rd. Turn left after 0.3 miles onto Tishoff Dr. Duplex will be on the left at the stop sign.
Standard status
Active
APN
14716347
Size
2,336 SF
Lot size
0.36 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump, Electric
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Flooring type
Carpet, Vinyl
Building materials
Brick Veneer
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Real Broker, LLC - Lexington
(855) 554-2075
Listed By:
Nicholas Ratliff
(859) 351-9796
Added: Jul 17
Changed: Sep 9
Last Checked: Sep 11 at 12:06AM
MLS# 26019671
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 1975 ranch-style duplex contains 2,336 square feet on a 0.3562-acre corner lot. The property has brick veneer construction, a shingle roof, driveway parking, and separate living spaces designed around open kitchen and living areas. Each unit includes a fireplace, laundry room, primary bedroom on the first floor, and kitchens equipped with a range, refrigerator, dishwasher, and microwave. One unit is currently vacant.
The property is located in Lexington, within ZIP Code 40502, with access to the University of Kentucky, downtown Lexington, Richmond Road, New Circle Road, hospitals, shopping, dining, and daily conveniences. Public water and public sewer serve the duplex. Electric heating and heat-pump systems provide heating and cooling, while carpet and vinyl flooring are installed throughout.
The property is located in Lexington, within ZIP Code 40502, with access to the University of Kentucky, downtown Lexington, Richmond Road, New Circle Road, hospitals, shopping, dining, and daily conveniences. Public water and public sewer serve the duplex. Electric heating and heat-pump systems provide heating and cooling, while carpet and vinyl flooring are installed throughout.
Key Highlights
- 2,336 square feet on a 0.3562‑acre corner lot
- Two‑unit duplex with one side currently vacant
- 1975 ranch‑style property with brick veneer construction
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
$19,407
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
4.51%
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%
$388,140
$388.1K
Cap Rate 7%
$277,243
$277.2K
Cap Rate 9%
$215,633
$215.6K
Market Conditions
NOI Build-Up for 2,336 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
$29.2K $12.48/SF
− Vacancy
−$1.4K −$0.61/SF
EGI
$27.7K $11.87/SF
− OpEx
−$8.3K −$3.56/SF
NOI
$19.4K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
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%
$388,140
Cap Rate 7%
$277,243
Cap Rate 9%
$215,633
Alternative Uses
Best Use
Multifamily LT 5
$277.2K
$242.6K – $323.5K
NOI $19,407 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$251.5K
$220.1K – $293.4K
NOI $17,606 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$486.7K
$425.9K – $567.8K
NOI $34,069 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained ranch duplex with one vacant unit, fireplaces, and public utilities in Lexington’s 40502 area.
Where is this duplex located?
The property is located at 1200 Tishoff Drive Lexington, KY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2,336 square feet on a 0.3562‑acre corner lot; Two‑unit duplex with one side currently vacant; 1975 ranch‑style property with brick veneer construction
