6-Unit Townhome Apartment
For Sale
$1,028,000
170-180 Heritage Drive, Nicholasville, KY 40356
Residential Income, Nicholasville, KY
Property Size8,016 SF
Lot Size0.39 Acres
Price / SF$128.24
Days on Market195
Property Features for 170-180 Heritage Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
10
Full bathrooms
6
Half bathrooms
7
Rooms
Bathroom 13, Bedroom 11, Bedroom 8, Bathroom 4, Bedroom 12, Bathroom 5, Bathroom 3, Bathroom 12, Bathroom 1, Bathroom 7, Bedroom 7, Bedroom 1, Bathroom 2, Bathroom 6, Bedroom 6, Bedroom 10, Bedroom 5, Bathroom 9, Bathroom 11, Bathroom 8, Bedroom 9, Bedroom 4, Bedroom 3, Bathroom 10, Bedroom 2, Laundry Room
Parking
12
Parking features
Open
Subdivision
Orchard
Elementary school
Red Oak
Middle school
East Jessamine Middle School
High school
East Jess HS
Elementary school district
Jessamine County - 9
Middle school district
Jessamine County - 9
High school district
Jessamine County - 9
Directions
Main Street Nicholasville to Strawberry Lane and Right on Heritage Dr. The first set of townhomes on the left. There is no sign.
Standard status
Active
APN
057-40-12-045.00
Size
8,016 SF
Lot size
0.39 Acres
Utilities
Utilities
Cable Available
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1988
Floors in Building
3
Number of units
6
Roof type
Shingle
Listing Agency:
RE/MAX Elite Realty Danville · RE/MAX International
(859) 209-5036
Listed By:
Terra Jeffries
(859) 312-0058
Added: Apr 17
Changed: Oct 19
Last Checked: Oct 28 at 2:06PM
MLS# 26008271
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.
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Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 8,016 square feet across townhome-style residences built in 1988. Each unit includes 2 bedrooms, 1.5 bathrooms, and a one-car garage. Five basements remain unfinished, while the sixth is configured as a management office. Recent capital improvements include roofs, siding, gutters, windows, and several AC units. Heating includes natural gas and heat pumps, with central air conditioning and shingle roofing.
The property occupies 0.385 acres at 170-180 Heritage Drive in Nicholasville, Kentucky, on the north side of Lake Mingo Park. Residents have walkable access to employment, shopping, and Main Street. Occupancy is reported at 100%, with a combination of long-term and month-to-month tenancies. Tenants pay all utilities.
The property occupies 0.385 acres at 170-180 Heritage Drive in Nicholasville, Kentucky, on the north side of Lake Mingo Park. Residents have walkable access to employment, shopping, and Main Street. Occupancy is reported at 100%, with a combination of long-term and month-to-month tenancies. Tenants pay all utilities.
Key Highlights
- 6 apartment units, each with 2 bedrooms, 1.5 bathrooms, and a one‑car garage
- 8,016 square feet on 0.385 acres in Nicholasville, KY
- 100% occupancy with long‑term and month‑to‑month tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,199
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,223,980
$1.2M
Cap Rate 7%
$874,271
$874.3K
Cap Rate 9%
$679,989
$680.0K
Market Conditions
NOI Build-Up for 8,016 SF
Gross rent
$116.4K $14.52/SF
− Vacancy
−$5.1K −$0.64/SF
EGI
$111.3K $13.88/SF
− OpEx
−$50.1K −$6.25/SF
NOI
$61.2K $7.63/SF
Area
Jessamine County, KY
Vacancy
4.40%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,223,980
Cap Rate 7%
$874,271
Cap Rate 9%
$679,989
Alternative Uses
Best Use
Apartment 5plus
$874.3K
$765.0K – $1.02M
NOI $61,199 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,210 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Townhome-style units offer private garages, basement space, and a mix of long-term and month-to-month tenancy.
Where is this apartment building located?
The property is located at 170-180 Heritage Drive Nicholasville, KY.
What is the asking price?
The asking price for this property is $1,028,000.
What are key features of this property?
This property features: 6 apartment units, each with 2 bedrooms, 1.5 bathrooms, and a one‑car garage; 8,016 square feet on 0.385 acres in Nicholasville, KY; 100% occupancy with long‑term and month‑to‑month tenancies
