Six-Unit Townhome Apartment
For Sale
$1,028,000
170180 170-180 Heritage Dr, Nicholasville, KY 40356
Updated roofs, siding, gutters, and windows complement garage-equipped residential units.
Property Size8,016 SF
Price / SF$128.24
Days on Market68
Property Features for 170180 170-180 Heritage Dr
General Information
Standard status
Active
Size
8,016 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 2BR/1.5BA
Multifamily Units
6
Parking per Unit
1
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
RE/MAX Elite Realty
Listed By:
Terra Jeffries · License #223352
(859) 312-0058
Source:
Meliarealty
Added: Aug 10
Changed: Oct 7
Last Checked: Oct 7 at 3:04PM
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 RE/MAX Elite Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6-unit apartment property consists of townhomes with a consistent two-bedroom, 1.5-bathroom layout and one-car garages. Five units include unfinished basements, while the basement in the sixth unit serves as a management office. Exterior improvements include new roofs, siding, gutters, and windows, along with several new AC units. Tenants pay all utilities, and the property is reported at 100% occupancy with a combination of long-term and month-to-month tenancies.
The property is located at 170180 170-180 Heritage Dr in Nicholasville, Kentucky, on the north side of recently upgraded Lake Mingo Park. The site is described as walkable to employment, shopping, and Main Street. Built in 1988, the six-unit configuration provides a defined residential income layout with on-site garage parking and dedicated management space.
The property is located at 170180 170-180 Heritage Dr in Nicholasville, Kentucky, on the north side of recently upgraded Lake Mingo Park. The site is described as walkable to employment, shopping, and Main Street. Built in 1988, the six-unit configuration provides a defined residential income layout with on-site garage parking and dedicated management space.
Key Highlights
- 6 townhome units with 2 bedrooms and 1.5 bathrooms each
- 100% occupancy with long‑term and month‑to‑month tenancy
- One‑car garage included with every unit
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
439
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 Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated roofs, siding, gutters, and windows complement garage-equipped residential units.
Where is this apartment building located?
The property is located at 170180 170-180 Heritage Dr 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 townhome units with 2 bedrooms and 1.5 bathrooms each; 100% occupancy with long‑term and month‑to‑month tenancy; One‑car garage included with every unit
