Newly Built
For Sale
$314,900
510-512 N Central Avenue, Nicholasville, KY 40356
Residential Income, Nicholasville, KY
Property Size2,176 SF
Lot Size0.51 Acres
Price / SF$144.72
Days on Market253
Property Features for 510-512 N Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 3
Subdivision
Downtown
Elementary school
Nicholasville
Middle school
East Jessamine Middle School
High school
East Jess HS
Elementary school district
Jessamine County - 9
Middle school district
Jessamine County - 9
High school district
Jessamine County - 9
Directions
Main Street to North Central
Standard status
Active
APN
058-30-07-051.00
Size
2,176 SF
Lot size
0.51 Acres
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Creative Realty · RE/MAX International
(859) 422-2000
Listed By:
Maggie C Taylor · License #5e3678
(859) 396-2179
Added: Jan 27
Changed: Oct 7
Last Checked: Oct 7 at 2:06PM
MLS# 26027731
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.
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, an open living area, and luxury vinyl plank flooring on the first level. Both residences include cabinetry, rear-yard access, an electric heat pump, and an electric water heater.
The property occupies a 0.514-acre lot at 510-512 N Central Avenue in downtown Nicholasville. City water and sewer are noted for the property.
The property occupies a 0.514-acre lot at 510-512 N Central Avenue in downtown Nicholasville. City water and sewer are noted for the property.
Key Highlights
- Two residences, each with 2 bedrooms and 1.5 bathrooms
- 2,176 square feet in total
- 0.514‑acre lot
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
526
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences offer open living areas and rear-yard access.
Where is this duplex located?
The property is located at 510-512 N Central Avenue 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: Two residences, each with 2 bedrooms and 1.5 bathrooms; 2,176 square feet in total; 0.514‑acre lot
