Two-Unit
For Sale
$445,000
270 Sherman Ave, Lexington, KY 40502
Separate residences support rental use or an owner-occupant arrangement.
Property Size2,160 SF
Price / SF$206.02
Days on Market67
Property Features for 270 Sherman Ave
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
The Brokerage
Listed By:
Tyler I Back · License #218460
(859) 983-2717
Source:
Centralkyhomesforsale
Added: Aug 9
Changed: Oct 1
Last Checked: Oct 12 at 8:00PM
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 The Brokerage
Investment Insights
Based on property information with market context.
This duplex contains 2160 square feet arranged as two separate residences, with each unit providing its own private living space. The configuration supports continued rental use or an owner-occupant setup with one residence occupied and the other rented.
The property is located at 270 Sherman Ave in Lexington, near the University of Kentucky, downtown Lexington, Chevy Chase, and local shopping and dining. Its residential layout and proximity to these destinations provide a straightforward option for buyers seeking a two-unit property in an established Lexington setting.
The property is located at 270 Sherman Ave in Lexington, near the University of Kentucky, downtown Lexington, Chevy Chase, and local shopping and dining. Its residential layout and proximity to these destinations provide a straightforward option for buyers seeking a two-unit property in an established Lexington setting.
Key Highlights
- Duplex with two separate residential units
- 2160 square feet of total property size
- Each unit has its own private living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,945
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,900
$358.9K
Cap Rate 7%
$256,357
$256.4K
Cap Rate 9%
$199,389
$199.4K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$27.0K $12.48/SF
− Vacancy
−$1.3K −$0.61/SF
EGI
$25.6K $11.87/SF
− OpEx
−$7.7K −$3.56/SF
NOI
$17.9K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,900
Cap Rate 7%
$256,357
Cap Rate 9%
$199,389
Alternative Uses
Best Use
Multifamily LT 5
$256.4K
$224.3K – $299.1K
NOI $17,945 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$232.6K
$203.5K – $271.3K
NOI $16,279 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$450.0K
$393.8K – $525.0K
NOI $31,502 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences support rental use or an owner-occupant arrangement.
Where is this duplex located?
The property is located at 270 Sherman Ave Lexington, KY.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Duplex with two separate residential units; 2160 square feet of total property size; Each unit has its own private living space
