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    South Williamson Multi-Unit Apartment Complex Title is generated by Realmo AI

    414 Central Avenue, South Williamson, KY 41503

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    For Sale
    $515,000

    Mult-Family, 2 Story - South Williamson, KY

    Property size:
    4,004 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $128/SF
    Added:
    May 15, 2026
    Days on Market:
    2
    Last Refresh:
    May 16 at 5:06 pm

    Property Features for 414 Central Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Built-in
    Interior features
    Cable/Dsl Available
    Exterior features
    Concrete Drive
    Appliances
    Dishwasher, Microwave, Refrigerator, Washer
    Standard status
    Active
    Size
    4,004 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1982
    Floors in Building
    2
    Number of units
    3
    Building materials
    Block, Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Shirley Blackburn

    Listing agent Shirley Blackburn

    Listing office AAA Real Estate Services Hibbard St. 141, Pikeville, KY

    Listing date May 15, 2026

    MLS# 128673 Listing URL

    Copyright © 2026 Eastern Kentucky Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Newly constructed/renovated units with modern finishes and updated features.
    • Three units: two 3‑BR, 2‑bath units and one 2‑BR, 2‑bath unit.
    • Strong rental potential; move‑in ready for investors.
    • Elevator access to all units.
    • Parking underneath the building.
    • Convenient location near Hatfield‑McCoy Trail System and South Side Mall.

    Overview

    This 3-unit apartment complex is located in South Williamson, KY. The property features newly constructed residential units with modern finishes and spacious layouts, offering strong rental potential. The complex includes two 3-bedroom, 2-bath units and one 2-bedroom, 2-bath unit. Each apartment has been fully renovated with fresh interiors and updated features. The building also includes parking underneath and is equipped with an elevator for easy access to all units. Positioned in a convenient, high-traffic area minutes from Hatfield-McCoy Trail System, South Side Mall. The property is situated on a lot of 0.16 acres and the building size is 4004 square feet. This property is ideal for investors looking for move-in ready rental units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Liu Jenq-Sheng MD Community Health Centre

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Williamson
    County
    Pike
    State
    Kentucky
    Longitude
    -82.2843808
    Latitude
    37.671404

    Nearby Similar for Sale

    • $1,100,000
      7,616 SF

      South Williamson Commercial Building For Sale

      Commercial building in high-traffic area suitable for restaurant, retail.
      275 Mall Road Outlot F, South Williamson, KY 41503
      View Details
    • $467,000
      4,500 SF

      Freestanding Retail/Office Building For Sale

      4,500 SF retail/office building with drive-thru and signage.
      27989 US Highway 119 | South Williamson, KY 41503
      View Details

    FAQs

    What type of property is this?
    Triplex - Newly constructed 3-unit apartment complex with modern finishes and strong rental potential.
    Where is this triplex located?
    The property is located at 414 Central Avenue South Williamson, KY.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: Newly constructed/renovated units with modern finishes and updated features.; Three units: two 3‑BR, 2‑bath units and one 2‑BR, 2‑bath unit.; Strong rental potential; move‑in ready for investors.
    (606) 424-0156
    We can help!
    Listing Contact
    Shirley Blackburn
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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