6,933 Sq Ft Build to Suit Multifamily; Apartments; Mixed Use
Under Renovation for 5 Apartments
Marketing description
Find full photos at this link: https://www.flexmls.com/share/Cmq17/4314-Mackville-Road,-Harrodsburg,-KY-40330
Welcome to a unique opportunity in the heart of the Harrodsburg community! This expansive 6.933 sq ft property, formerly a school, is now at the roughed-in and is under renovation for multiple apartments (10 bath/kitchens) at this time, offering a blank canvas for your vision. Pro forma NOI is $57,438 (with Gross rental income of $103,995; 7%+- cap rate). Set on a generous 5.6 acres, this serene, rural location presents endless possibilities for development. Imagine transforming this space into a vibrant community hub, perhaps as a multipurpose facility, educational center, or even a creative arts studio. With the right planning and zoning, this property could also cater to residential needs, making it ideal for multiplex housing or townhomes, tapping into the growing demand for diverse living options in peaceful settings. The property also includes two additional buildings—a former classroom and a large garage—providing valuable extra space for workshops, storage, or community activities. The tranquil surroundings and spacious grounds create an inviting atmosphere, perfect for fostering a sense of community and connection. Whether you're looking to invest, develop, or create a unique space that honors the rich history of this site, this property is a remarkable find. Don't miss your chance to be part of Harrodsburg's future while preserving its storied past!
Investment highlights
- Prime Location: Situated in the heart of the Harrodsburg community, this expansive property spans 6,933 sq ft within a tranquil 5.6-acre rural setting. Its strategic location provides easy access to local amenities and fosters a strong sense of community.
-Pro Form NOI $57,438 per appraisal, 7%+ cap rate; (with Gross rental income of $103,995) per appraisal
-Square footage of 6933 does not include two external structures: “barn/shop” and “cafeteria or classroom”
-Continued renovations are ongoing working toward minimum 5 apartments; 10 Bathrooms/Kitchen Areas are planned
- Development Potential: Currently at the roughed-in renovation stage, this property offers a blank canvas for imaginative redevelopment. Potential uses include:
- Residential Opportunities: With proper planning and zoning, convert the property into multiplex housing or townhomes to meet the rising demand for diverse living options in peaceful surroundings.
- Additional Structures: In addition to the main building, the property includes two extra buildings—a former classroom and a spacious garage—providing ample space for workshops, storage, or community-focused activities.
- Multipurpose Facility: Create a vibrant hub for community gatherings, events, or recreational activities.
- Educational / Vocational Center: Transform the space into a learning environment that caters to local educational needs.
- Creative Arts Studio: Establish a place for artists and creators to collaborate and showcase their work.
- Community Connection: The serene surroundings and expansive grounds are perfect for fostering a sense of connection among residents. This property presents an opportunity to enhance the community's social fabric while respecting its historical significance.
- Investment Opportunity: Whether you are an investor, developer, or visionary looking to create a unique space, this property stands out as a remarkable opportunity to shape Harrodsburg's future while honoring its past.
Seize the chance to invest in a property with endless possibilities and become a key player in the development of this vibrant community!
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