300 Pine Ridge Drive, Morehead, KY 40351
$3,500,000
Property Type:
Commercial Sale
Square Footage:
37,386
Lot Size (sq. ft.):
1,742,400
Status:
Contingent
Current Price:
$3,500,000
List Date:
2/05/2026
Last Modified:
5/08/2026
Listing Details MLS# 26002179
Listing Information
- Comp Sale YN
- No
- Property Sub Type
- Business
Status Change Information
- Status Change Timestamp
- 2026-05-08
- Purchase Contract Date
- 2026-05-08
Address
- County
- Rowan
- Street Number
- 300
- Street Name
- Pine Ridge
- Street Suffix
- Drive
- State
- KY
- Zip Code
- 40351
- Parcel Number
- 062-00 00 033.0, 062-00 00 032.00
Contract
- Original List Price
- 3500000
- Start Showing Date
- 2026-02-05
- Listing Contract Date
- 2026-02-05
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/SqFt
- 93.62
Tax Legal
- MLS Area Major
- 061 - Rowan County
- Subdivision Name
- City Limits
Interior
- Living Area Units
- Square Feet
- Building Area Total
- 37386
- Building Area Source
- Appraiser
- Building Area Units
- Square Feet
More Information
Building
- Year Built
- 1978
- Accessibility Features YN
- No
Lot
- Lot Size Acres
- 40
- Lot Size Square Feet
- 1742400
Utilities
- Cooling YN
- Yes
- Heating YN
- Yes
- Electricity Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Remarks
- Public Remarks
- Introducing Pine Ridge Apartments, a 48-unit multifamily investment opportunity offering scale, stable demand, and a peaceful natural setting. The property sits on approximately 4 acres and is surrounded by an additional 36 wooded acres, providing privacy while maintaining accessibility. The unit mix is well balanced to support diversified rental demand: Unit Breakdown: • 8 three-bedroom units • 16 two-bedroom units • 24 one-bedroom units Total: 48 units The community operates as HUD housing through the U.S. Department of Housing and Urban Development, offering consistent occupancy potential and dependable income streams. On-site amenities include a dedicated management office and a tenant laundry facility, enhancing convenience for residents and operational efficiency for ownership. This property presents an excellent opportunity for investors seeking a larger multifamily asset with established housing support, a strong unit mix, and room for operational or value-add improvements. Surrounded by wooded acreage, Pine Ridge Apartments combines income potential with a quiet, residential atmosphere.
Showing Information
- Showing Instructions
- Required minimum 48 hour notice to show per KY law
Tax & Legal
- Business Name
- Pine Ridge Apartments
- Tax Rate
- 0.837
- Zoning
- Other
- Zoning Description
- R3
- Directions
- From Exit 137, turn right onto Flemingsburg Rd toward Morehead, go 0.8 miles the property will be on your left.
Association/Community
- Number Of Buildings
- 9
Construction Materials
- Brick
- Yes
- Wood Siding
- Yes
Cooling
- Electric
- Yes
Heating
- Electric
- Yes
Parking Features
- On Site
- Yes
- Paved
- Yes
Possession
- See Remarks
- Yes
Roof
- Shingle
- Yes
Sewer
- Public Sewer
- Yes
Water Heater
- Electric
- Yes
Business Type
- Commercial
- Yes
Sale Includes
- Building(s)
- Yes
- Business
- Yes
- Fixtures
- Yes
- Land
- Yes
Showing Requirements
- Call Listing Agent
- Yes
- Show Anytime
- Yes
Property Features
Utilities:
Electricity Connected; Sewer Connected; Water Connected; Electricity Connected; Sewer Connected; Water Connected
Business Type:
Commercial
Construction Materials:
Brick; Wood Siding
Cooling:
Electric
Heating:
Electric
Parking Features:
On Site; Paved
Possession:
See Remarks
Roof:
Shingle
Sale Includes:
Building(s); Business; Fixtures; Land
Sewer:
Public Sewer
Water Heater:
Electric
Showing Requirements:
Call Listing Agent; Show Anytime
Listing Office:
HomeLand Real Estate Inc - Mt Sterling
Last Updated: May - 08 - 2026
Information deemed reliable but not guaranteed.