Residence Zoning Flex
For Sale
$950,000
2070 Vince Road, Nicholasville, KY 41314
Brick residence with a 1,200 SF garage sits in a residence zone suitable for business use.
Property Size4,900 SF
Price / SF$193.88
Days on Market341
Property Features for 2070 Vince Road
General Information
Standard status
Active
Size
4,900 SF
Property subtype
General Commercial
Amenities
Central Air
3
Hardwood
6 Parking Spaces. Private.
Landscaped. City Road, Asphalt.
Building Details
Year Built
1993
Stories
3
Listing Agency:
Coldwell Banker Legacy Group
(270) 782-2250
Listed By:
William McClure · License #285216
(270) 438-2788
Source:
Xome
Added: Sep 30, 2025
Changed: Sep 1
Last Checked: Sep 5 at 4:18AM
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 Coldwell Banker Legacy Group
Investment Insights
Based on property information with market context.
This commercial opportunity features a 4,900 SF brick residence that includes an attached 1,200 SF garage. The property is positioned as a residence zoned for business, supporting a range of practical commercial uses.
The current structure offers space that can be adapted for office, retail, professional services, or light industrial applications, depending on how the space is configured.
With the residence and garage in place, the layout provides both main building space and a secondary enclosed area that may be useful for storage, back-of-house functions, or service-related needs for an approved use.
The current structure offers space that can be adapted for office, retail, professional services, or light industrial applications, depending on how the space is configured.
With the residence and garage in place, the layout provides both main building space and a secondary enclosed area that may be useful for storage, back-of-house functions, or service-related needs for an approved use.
Key Highlights
- Residence zoned for business use, suitable for office, retail, professional, or light industrial applications
- Includes a 4,900 SF brick residence
- Also includes a 1,200 SF garage
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
$68,902
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
7.25%
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%
$1,378,040
$1.4M
Cap Rate 7%
$984,314
$984.3K
Cap Rate 9%
$765,578
$765.6K
Market Conditions
NOI Build-Up for 4,900 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
$105.8K $21.60/SF
− Vacancy
−$14.0K −$2.85/SF
EGI
$91.9K $18.75/SF
− OpEx
−$23.0K −$4.69/SF
NOI
$68.9K $14.06/SF
Area
Jessamine County, KY
Vacancy
13.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,378,040
Cap Rate 7%
$984,314
Cap Rate 9%
$765,578
Alternative Uses
Best Use
Office B
$984.3K
$861.3K – $1.15M
NOI $68,902 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,930 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 41314, KY
4,260
Population
2,199
Households
1.9
Avg Household Size
45
Median Age
13%
College-Educated
74%
High-School Grad
178.0 sq mi
ZIP Area
24
Density / Sq Mi
$37,111
Median Household Income
$29,470
Median Earnings
$540
Median Rent
$92,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Brick residence with a 1,200 SF garage sits in a residence zone suitable for business use.
Where is this office units located?
The property is located at 2070 Vince Road Nicholasville, KY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Residence zoned for business use, suitable for office, retail, professional, or light industrial applications; Includes a 4,900 SF brick residence; Also includes a 1,200 SF garage
