Newly Built
For Sale
$314,900
510-512 N Central Ave, Nicholasville, KY 40356
Two matching residences offer open living areas, private rear-yard access, and separate heating and water-heating equipment.
Property Size2,176 SF
Price / SF$144.72
Days on Market19
Property Features for 510-512 N Central Ave
General Information
Standard status
Active
Size
2,176 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2024
Buildings
1
Listing Agency:
RE/MAX Creative Realty
Listed By:
Maggie C Taylor · License #5e3678
(859) 396-2179
Source:
Centralkyhomesforsale
Added: Sep 29
Changed: Oct 16
Last Checked: Oct 16 at 2:02PM
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 RE/MAX Creative Realty
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Investment Insights
Based on property information with market context.
Completed in 2024, this duplex contains 2,176 square feet across two residences. Each side has two bedrooms, 1.5 bathrooms, and an open living area. Luxury vinyl plank flooring is installed on the first level, with cabinetry and access to the rear yard on each side.
The property is at 510-512 N Central Ave in downtown Nicholasville. Both residences have electric heat pumps and electric water heaters, with city water and sewer service. The building has dimensional-shingle roofing.
The property is at 510-512 N Central Ave in downtown Nicholasville. Both residences have electric heat pumps and electric water heaters, with city water and sewer service. The building has dimensional-shingle roofing.
Key Highlights
- Built in 2024 with 2,176 square feet
- Two residences, each with two bedrooms and 1.5 bathrooms
- Open living areas and first‑level luxury vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,565
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,300
$371.3K
Cap Rate 7%
$265,214
$265.2K
Cap Rate 9%
$206,278
$206.3K
Market Conditions
NOI Build-Up for 2,176 SF
Gross rent
$27.7K $12.72/SF
− Vacancy
−$1.2K −$0.53/SF
EGI
$26.5K $12.19/SF
− OpEx
−$8.0K −$3.66/SF
NOI
$18.6K $8.53/SF
Area
Jessamine County, KY
Vacancy
4.18%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,300
Cap Rate 7%
$265,214
Cap Rate 9%
$206,278
Alternative Uses
Best Use
Multifamily LT 5
$265.2K
$232.1K – $309.4K
NOI $18,565 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$237.3K
$207.7K – $276.9K
NOI $16,613 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$551.5K
$482.6K – $643.4K
NOI $38,604 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 40356, KY
44,381
Population
17,934
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
90%
High-School Grad
139.5 sq mi
ZIP Area
318
Density / Sq Mi
$75,264
Median Household Income
$41,427
Median Earnings
$1,020
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer open living areas, private rear-yard access, and separate heating and water-heating equipment.
Where is this duplex located?
The property is located at 510-512 N Central Ave Nicholasville, KY.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Built in 2024 with 2,176 square feet; Two residences, each with two bedrooms and 1.5 bathrooms; Open living areas and first‑level luxury vinyl plank flooring
