300 Pine Ridge Drive Morehead, KY $ 3,500,000
300 Pine Ridge Drive
$ 3,500,000
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300 Pine Ridge Drive

Morehead, KY, 40351
$ 3,500,000
Bedrooms-- Baths-- Sq 37,386

Monthly Estimate*

$ 21,550

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Commercial Property for sale in Morehead, KY

for $3,500,000. This 37,386 square foot building was built in 1978 on a lot size of 40.

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.

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Commercial Active

Price

$ 3,500,000

Property Type

Commercial

Taxes

$ 0

Style

Business

Lot Size

40

Year Built

1978

Town/City

Morehead

County/Region

Rowan

MLS | Web ID

26002179

Features
General
Sewer Public Sewer
Heating Electric
Cooling Electric
Utilities Electricity Connected Sewer Connected Water Connected
Possession See Remarks
Roof Shingle
Zoning Other
Construction Materials Brick Wood Siding
Year Built 1978
Property Subtype Business
Parcel Number 062-00 00 033.0 062-00 00 032.00
Business Type Commercial
Business Name Pine Ridge Apartments
County Rowan
New Construction N
Property Type Commercial Sale
Attached Garage N
Subdivision Name City Limits
Status Active
Directions From Exit 137 turn right onto Flemingsburg Rd toward Morehead go 0.8 miles the property will be on your left.
City Morehead
Zoning Description R3
MLS Area 061 - Rowan County
Lot Size Units Acres
Lot Size Square Feet 1742400.0
Land Lease Y/N N
MLS Area Minor 061 - Rowan County
Lease Considered Y/N N
Rent Control Y/N N
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Senior Community None
Water Body Access Y/N None
Accessibility Features Y/N None
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Exterior
Parking Features On Site Paved
Lot Size Area 40.0
Number of Buildings 9
Building Area Total 37386.0
Lot Size Acres 40.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Internal Only
Street Number 1 300
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* Excluded Features
List By
Homeland Real Estate Inc - Mt Sterling

Broker

talimartinrealtor@gmail.com

Email

Affordability Calculator

$21,550
Per Month
100%
0%
0%
Monthly Principal & Interest
$21,550
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
458656 Elementary School
458772 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/5/2026$3,500,000 Listed Price

Map


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300 Pine Ridge Drive, Morehead, KY, 40351 is a Commercial Property for sale at $3,500,000 with 37,386 sqft and a lot size of 40. 300 Pine Ridge Drive was built in 1978. The property's zip code is 40351 which is in Morehead, KY