Updated 12-Unit Apartment
For Sale
$950,000
3414 Burkland Blvd, Shepherdsville, KY 40165
Professionally managed property with updated one-bedroom residences and one unit available for showings.
Property Size8,400 SF
Price / SF$113.10
Days on Market94
Property Features for 3414 Burkland Blvd
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Multifamily
Zoning
R2
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Additional Details
Highway Access
Yes
Amenities
Power
Water
Listing Agency:
PML Real Estate Group LLC
(502) 895-9136
Listed By:
Brian Stocker · License #210821
(502) 895-9136
Source:
Kcrea.resimplifi
Added: May 29
Changed: Aug 29
Last Checked: Aug 29 at 4:39PM
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 PML Real Estate Group LLC
Investment Insights
Based on property information with market context.
This apartment property includes 12 one-bedroom, one-bathroom units across 8,400 square feet. The residences have been updated, and the property is professionally managed. One unit is vacant and available for showings, while occupied units may be viewed during the due diligence period after an accepted offer.
The property is located at 3414 Burkland Blvd in Shepherdsville, Kentucky, just off I-65. It carries R2 zoning. Rent rolls and financial statements are available upon request, and buyers may include a walk-through contingency with a submitted offer.
The property is located at 3414 Burkland Blvd in Shepherdsville, Kentucky, just off I-65. It carries R2 zoning. Rent rolls and financial statements are available upon request, and buyers may include a walk-through contingency with a submitted offer.
Key Highlights
- 12‑unit apartment property with 1‑bedroom, 1‑bathroom units
- 8,400 square feet of building area
- Updated apartment interiors
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
$75,967
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
8.00%
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%
$1,519,340
$1.5M
Cap Rate 7%
$1,085,243
$1.1M
Cap Rate 9%
$844,078
$844.1K
Market Conditions
NOI Build-Up for 8,400 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
$146.2K $17.40/SF
− Vacancy
−$8.0K −$0.96/SF
EGI
$138.1K $16.44/SF
− OpEx
−$62.2K −$7.40/SF
NOI
$76.0K $9.04/SF
Area
Bullitt County, KY
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,519,340
Cap Rate 7%
$1,085,243
Cap Rate 9%
$844,078
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$949.6K – $1.27M
NOI $75,967 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $123,960 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 40165, KY
36,161
Population
15,622
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
113.2 sq mi
ZIP Area
319
Density / Sq Mi
$77,083
Median Household Income
$41,914
Median Earnings
$939
Median Rent
$242,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Professionally managed property with updated one-bedroom residences and one unit available for showings.
Where is this apartment building located?
The property is located at 3414 Burkland Blvd Shepherdsville, 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: 12‑unit apartment property with 1‑bedroom, 1‑bathroom units; 8,400 square feet of building area; Updated apartment interiors
