15-Unit Apartment
2007 S Main Street, Paris, KY 40361
For Sale
$2,890,000
Commercial Sale, Paris, KY
Property Size16,950 SF
Lot Size0.64 Acres
Price / SF$170.50
Days on Market61
Property Features for 2007 S Main Street
General Information
Property type
Property subtype
Zoning
Parking
Subdivision
Directions
Standard status
APN
Size
Lot size
Utilities
Sewer type
Heating system
Cooling system
Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
Kentucky Prime Realty, LLC
(859) 265-5100
Listed By:
Rodney Dotson
(859) 621-5564
Added: Sep 11
Changed: Nov 3
Last Checked: Nov 10 at 5:06PM
MLS# 26025114
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.
Completed in 2024, this 15-unit apartment building contains 16,950 square feet on a 0.643-acre parcel. Each apartment has two bedrooms and one bathroom, providing a consistent unit layout throughout the property. Concrete construction, a flat rubber roof, and heat pump heating and cooling are among the building’s physical features.
The property is zoned B-2 and served by public sewer.
The property is zoned B-2 and served by public sewer.
Key Highlights
- 15 apartments, each with a two‑bedroom, one‑bathroom layout
- 16,950 square feet on 0.643 acres
- Built in 2024 with concrete construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,407
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,588,140
$2.6M
Cap Rate 7%
$1,848,671
$1.8M
Cap Rate 9%
$1,437,856
$1.4M
Market Conditions
NOI Build-Up for 16,950 SF
Gross rent
$246.1K $14.52/SF
− Vacancy
−$10.8K −$0.64/SF
EGI
$235.3K $13.88/SF
− OpEx
−$105.9K −$6.25/SF
NOI
$129.4K $7.63/SF
Area
Bourbon 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%
$2,588,140
Cap Rate 7%
$1,848,671
Cap Rate 9%
$1,437,856
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,407 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,707 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
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Business Placement
Demographics for 40361, KY
18,214
Population
8,173
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
87%
High-School Grad
257.1 sq mi
ZIP Area
71
Density / Sq Mi
$57,074
Median Household Income
$36,206
Median Earnings
$793
Median Rent
$216,700
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 - New concrete construction offers a consistent two-bedroom, one-bathroom layout across the apartments.
Where is this apartment building located?
The property is located at 2007 S Main Street Paris, KY.
What is the asking price?
The asking price for this property is $2,890,000.
What are key features of this property?
This property features: 15 apartments, each with a two‑bedroom, one‑bathroom layout; 16,950 square feet on 0.643 acres; Built in 2024 with concrete construction
