38-Unit Apartment
New
For Sale
$4,500,000
2150 Irvin Cobb Drive, Paducah, KY 42003
Business Opportunity, Paducah, KY
Property Size20,568 SF
Lot Size4.57 Acres
Price / SF$218.79
Days on Market3
Property Features for 2150 Irvin Cobb Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
FROM I-24 EXIT 7 AT LONE OAK ROAD HEAD NORTH/EAST TOWARDS DOWNTOWN PADUCAH, TURN RIGHT ONTO JACKSON STREET AND STAY ON IT, JACKSON TURNS INTO OHIO STREET, THEN TURNS INTO 21ST STREET TOWARDS THE SOUTH SIDE, IT TURNS INTO IRVIN COBB, BUILDING IS ON THE LEFT SIDE OF THE ROAD
Subdivision
119 - McCracken County
Standard status
Active
Size
20,568 SF
Lot size
4.57 Acres
Additional Details
Currently Operating
Yes
Individually Metered Utilities
unspecified utilities
Utilities
Utilities
Cable Available
Heating system
Ductless (Heating), Electric (Heating)
Cooling system
Wall Unit(s), Electric, Ductless
Building Details
Year built
1970
Listing Agency:
LP Real Estate Services LLC
Listed By:
Lenny Powley
(270) 210-0073
Added: Oct 27
Changed: Oct 28
Last Checked: Oct 29 at 5:06AM
MLS# 26029797
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.
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.
Renovated in 2025, this 38-unit apartment property offers 27 one-bedroom units averaging approximately 850 square feet and 11 two-bedroom units averaging approximately 1,050 square feet. Apartments have individual meters, granite countertops, stainless steel appliances, and luxury vinyl plank flooring. Heating and cooling include ductless systems and electric service; wall units are also present for cooling.
The property occupies 4.57 acres and has 276 feet of road frontage. A separate commercial building lot of just under 6,000 square feet is included, with utilities available for hookup. An on-site maintenance employee handles repair requests, apartment turns, and unit cleanouts.
The property occupies 4.57 acres and has 276 feet of road frontage. A separate commercial building lot of just under 6,000 square feet is included, with utilities available for hookup. An on-site maintenance employee handles repair requests, apartment turns, and unit cleanouts.
Key Highlights
- 38 apartments: 27 one‑bedroom units averaging approximately 850 square feet and 11 two‑bedroom units averaging approximately 1,050 square feet
- Renovated in 2025
- Apartments include individual meters, granite countertops, stainless steel appliances, and luxury vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$168,741
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,374,820
$3.4M
Cap Rate 7%
$2,410,586
$2.4M
Cap Rate 9%
$1,874,900
$1.9M
Market Conditions
NOI Build-Up for 20,568 SF
Gross rent
$335.7K $16.32/SF
− Vacancy
−$28.9K −$1.40/SF
EGI
$306.8K $14.92/SF
− OpEx
−$138.1K −$6.71/SF
NOI
$168.7K $8.20/SF
Area
McCracken County, KY
Vacancy
8.60%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,374,820
Cap Rate 7%
$2,410,586
Cap Rate 9%
$1,874,900
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,741 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.29M
$3.75M – $5.00M
NOI $299,984 @ 7.0% cap · market cap 6.67%
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
38
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 42003, KY
28,592
Population
14,132
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
92%
High-School Grad
69.0 sq mi
ZIP Area
414
Density / Sq Mi
$54,052
Median Household Income
$33,566
Median Earnings
$696
Median Rent
$160,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments feature individual metering, granite countertops, stainless steel appliances, and luxury vinyl plank flooring.
Where is this apartment building located?
The property is located at 2150 Irvin Cobb Drive Paducah, KY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 38 apartments: 27 one‑bedroom units averaging approximately 850 square feet and 11 two‑bedroom units averaging approximately 1,050 square feet; Renovated in 2025; Apartments include individual meters, granite countertops, stainless steel appliances, and luxury vinyl plank flooring
