Townhome Condominium
1800 Victory Lane, Prospect, KY 40059
For Sale
Contact for pricing
Newly constructed townhome condominium project with approvals for an additional expansion phase.
Property Size11,256 SF
Price / SF$266.08
Days on Market153
Property Features for 1800 Victory Lane
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Investment Type
Additional Details
Multifamily Units
Building Details
Year Built
Units
Tenancy
Listing Agency:
TRIO Commercial Property Group LLC
Listed By:
Justin Baker · License KY #204053
(502) 645-1911
Source:
Crexi
Added: Jun 11
Changed: Nov 9
Last Checked: Nov 10 at 5:08AM
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 TRIO Commercial Property Group LLC
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.
Victory Lane Townhomes is a newly constructed townhome condominium development featuring eight completed units, with approvals in place for an additional eight-unit expansion phase. The property is structured for condominium ownership, providing flexibility for different disposition approaches depending on how an owner wants to manage the asset over time.
The project is located in the Prospect submarket. Public remarks indicate the community is actively leased as of the offering, and the approvals support a planned expansion beyond the initial completed phase.
For buyers seeking a residential income asset with an ownership structure designed for multiple exit paths, this offering combines current completed units with a clear, approved next step for growth. The combination of an initial set of completed homes and an approved expansion phase can align well with investors or operators looking to manage near-term performance from existing inventory while planning for additional unit development through the approved future phase. All information is based on the provided public remarks and the stated development scope of eight completed units plus an additional eight-unit expansion phase.
The project is located in the Prospect submarket. Public remarks indicate the community is actively leased as of the offering, and the approvals support a planned expansion beyond the initial completed phase.
For buyers seeking a residential income asset with an ownership structure designed for multiple exit paths, this offering combines current completed units with a clear, approved next step for growth. The combination of an initial set of completed homes and an approved expansion phase can align well with investors or operators looking to manage near-term performance from existing inventory while planning for additional unit development through the approved future phase. All information is based on the provided public remarks and the stated development scope of eight completed units plus an additional eight-unit expansion phase.
Key Highlights
- Year built: 2026 for this newly constructed townhome condominium project
- Eight completed units in place as part of the Victory Lane Townhomes development
- Approvals in hand for an additional eight‑unit expansion phase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,222
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,104,440
$2.1M
Cap Rate 7%
$1,503,171
$1.5M
Cap Rate 9%
$1,169,133
$1.2M
Market Conditions
NOI Build-Up for 11,256 SF
Gross rent
$204.0K $18.12/SF
− Vacancy
−$12.6K −$1.12/SF
EGI
$191.3K $17.00/SF
− OpEx
−$86.1K −$7.65/SF
NOI
$105.2K $9.35/SF
Area
Jefferson County, KY
Vacancy
6.20%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,104,440
Cap Rate 7%
$1,503,171
Cap Rate 9%
$1,169,133
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.32M – $1.75M
NOI $105,222 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.23M
$1.95M – $2.60M
NOI $155,947 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 40059, KY
20,254
Population
8,400
Households
2.4
Avg Household Size
45
Median Age
71%
College-Educated
99%
High-School Grad
28.2 sq mi
ZIP Area
718
Density / Sq Mi
$165,000
Median Household Income
$83,963
Median Earnings
$1,844
Median Rent
$533,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Jefferson County, KY
Properties on Market for Apartment buildings in Jefferson County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed townhome condominium project with approvals for an additional expansion phase.
Where is this apartment building located?
The property is located at 1800 Victory Lane Prospect, KY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Year built: 2026 for this newly constructed townhome condominium project; Eight completed units in place as part of the Victory Lane Townhomes development; Approvals in hand for an additional eight‑unit expansion phase
