Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1012 New Haven Rd, Unit 45 Lancaster, KY 40444

    Sponsored
    For Sale
    $36,900

    LAND - Lancaster, KY

    Lot size:
    1.01 Acres
    Days on Market:
    70
    Last Refresh:
    Jan 28 at 11:06 am

    Property Features for 1012 New Haven Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-1
    APN
    10A-01-045
    Lot size
    1.01 Acres

    We can help!

    Listing Contact
    John Groft
    John Groft

    RE/MAX Creative Realty (859) 422-2000

    Listing agent John Groft (859) 422-2058

    Listing date Nov 20, 2025

    MLS# 25504368 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Garrard County

    This one-acre lot in Garrard County is partially cleared, balancing open space with mature trees. Utilities are nearby, and groundwork has been started to facilitate building a custom home. The property is located in a country setting with access to towns, schools, and local amenities. This ready-to-build lot offers possibilities for a home or weekend retreat.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Hair Salon Hotel & Motel Gym & Fitness Department Store Kitchen & Bath Travel Agency Home Appliance Store Diner

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Garrard
    State
    Kentucky
    Longitude
    -84.642995
    Latitude
    37.731777

    Nearby Similar for Sale

    • $569,000
      1,680 SF

      Versatile Property on 9.37 Acres

      Commercial or residential property with income potential near Lexington, KY.
      54 Burdette Knob Rd, Lancaster, KY 40444
      View Details
    • $299,900
      13,650 SF

      Two Lancaster Church Buildings Package

      Two adjacent church buildings totaling over 12,000 SF in Lancaster.
      65 Highland Ave, Lancaster, KY 40444
      View Details
    • $165,000
      1,792 SF

      Lancaster, KY Income Producing Duplex

      Stable income-producing duplex with updates in Lancaster, KY.
      89-93 Highland Ave, Lancaster, KY 40444
      View Details
    • $165,000
      1,792 SF

      Lancaster, KY Income-Producing Duplex

      Stable duplex in Lancaster, KY with recent updates and excellent location.
      81-85 Highland Ave, Lancaster, KY 40444
      View Details
    • New
      $165,000
      3,240 SF

      Historic Downtown Building For Sale

      Two-story brick building in prime downtown location, suitable for retail.
      37 Public Sq, Lancaster, KY 40444
      View Details
    • New
      $250,000
      4,968 SF

      Historic Downtown Lancaster Two-Story Building

      Historic two-story building in Lancaster Public Square with many potential uses.
      35 Public Sq, Lancaster, KY 40444
      View Details
    • $499,500
      3,400 SF

      Lancaster Multifamily Investment Opportunity

      Four renovated units near shops and courthouse in Lancaster, Kentucky.
      201 Danville St, Lancaster, KY 40444
      View Details
    • $189,000
      Pending

      Mixed-Use Property in Lancaster, KY

      Mixed-use property featuring retail and residential spaces in Lancaster, KY.
      1 Public Sq, Lancaster, KY 40444
      View Details
    • Contact for pricing
      20,000 SF

      Lancaster Retail Center For Sale

      Multi-tenant retail center with available space and ample parking.
      150 Pleasant Retreat Dr, Lancaster, KY 40444
      View Details
    • $425,000
      1.47 Acres

      Established Diner - Lancaster, KY

      Turnkey Restaurant, Loyal Clientele, High Profits
      1862 Pine Crest Rd, Lancaster, KY 40444
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - One-acre lot ready for custom home in Lancaster, Kentucky.
    Where is this residential land & home lot located?
    The property is located at 1012 New Haven Rd, Unit 45 Lancaster, KY.
    What is the asking price?
    The asking price for this property is $36,900.
    What are key features of this property?
    This property features: - Ready-to-build 1-acre lot in Garrard County; - Partially cleared, balancing open space and mature trees; - Utilities nearby, simplifying the building process
    (859) 420-7355
    Request Owner's contact information
    1012 New Haven Rd, Unit 45 Lancaster, KY 40444
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1012 New Haven Rd, Unit 45
    Lancaster, KY 40444
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1012 New Haven Rd, Unit 45 Lancaster, KY 40444
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Groft
    John Groft
    Real Estate License ID: 59378
    (859) 420-7355
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.