1070 Elizabeth StNicholasville, KY 40356

Property Details for 1070 Elizabeth St

Year built

2009

Property size (Sq ft)

900 SF

Property type

Industrial properties

Property subtype

Industrial live-work properties

APN

056-00-00-005.0H

APU

05600000050H

Description

This 1,200 square foot commercial condo unit, located at 1070 Elizabeth Street Unit 34 in Nicholasville, KY, presents a unique investment opportunity. The property is part of a secure building complex featuring a common area lounge, restrooms with showers, and a kitchenette for owner use. Access to the entire property and individual units is controlled via individually coded doors and gates. This energy-efficient unit boasts over-insulated walls, insulated concrete, and translucent wall panels to minimize utility costs. Unit #34 offers a substantial 24'x50' footprint, including a built-in 24'x24' (576 sq ft) mezzanine. The unit features a 14'x14' electric roll-up door, a separate man door, pegboard workshop shelves, and racking. Ceiling height ranges from 16' to 18' (single slope). The concrete floor is slightly sloped for drainage. The unit is plumbed for a future bathroom, with sewer cleanouts and water line access points already in place (allowing for a private meter). A 200-amp electrical panel provides ample power. Exterior amenities include an RV clean-out and outside water spigots. This versatile space is ideal for various uses, including RV and boat storage, business inventory storage, or general commercial or household storage. Note that retail use is prohibited. The property's secure design and desirable features make it an excellent choice for both owner-occupancy and rental income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $207,391

  6.5%

  $191,438

  7%

  $177,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $120,476

  Geo Method

  $120,082

• Alternative Use

  Use

  Valuation

  Residential

  $191,438

  Hospitality

  $175,356

  Educational

  $145,894

  Medical

  $150,912

  Retail

  $226,946

Location Insight

City

Nicholasville

County

Jessamine

State

Kentucky

Latitude

37.9197

Longitude

-84.5602

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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