Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Productive Farmland with Recreational Potential Title is generated by Realmo AI

    120 AC Milltown Road, Columbia, KY 42728

    View on Map
    Claim this Listing
    For Sale
    $699,000

    LAND - Columbia, KY

    Lot size:
    120.00 Acres
    Added:
    Dec 9, 2025
    Days on Market:
    155
    Last Refresh:
    May 13 at 3:06 am

    Property Features for 120 AC Milltown Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    120.00 Acres

    We can help!

    Listing Contact
    Tammy Stotts

    Listing agent Tammy Stotts License #262780

    Listing office Southern Nest Realty, LLC 126 Will Walker Lane, Columbia, KY

    Listing date Dec 9, 2025

    MLS# SC47570 Listing URL

    Copyright © 2026 South Central Kentucky Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 120+/- acre farm featuring approximately 50 acres of income‑producing cropland currently leased.
    • Bordered on three sides by Russell Creek, offering scenic views and strong water features.
    • Excellent whitetail deer hunting and abundant wildlife habitat.
    • Mix of productive cropland, hay ground (approx. 7 acres), and wooded acreage.
    • Located in the Milltown community of Adair County, 7 miles from Columbia and 13 miles from Greensburg.
    • Suitable for hunting, farming, recreation, and long‑term investment.

    Overview

    This 120+/- acre farm is located in the Milltown community of Adair County, approximately 7 miles from Columbia and 13 miles from Greensburg. The property features a mix of income-producing farmland, recreational land, and long-term investment potential. Approximately 50 acres consist of productive cropland, currently leased to provide annual income. An additional 7 acres are designated as hay ground, with the remaining acreage wooded. The combination of open ground and timber makes the property attractive for outdoor recreation and wildlife habitat. Bordered on three sides by Russell Creek, the farm offers scenic views, strong water features, and natural surroundings. The area is known for whitetail deer hunting, with abundant signs of wildlife throughout the woods and creek corridors. The combination of cropland, bedding cover, and water creates an environment suitable for hunters and outdoor enthusiasts. This property is suited for hunting, farming, recreation, and long term investment purposes. A new survey will be provided by the seller prior to closing.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Columbia
    County
    Adair
    State
    Kentucky
    Longitude
    -85.405383
    Latitude
    37.1245051

    Nearby Similar for Sale

    • $160,000

      Versatile Acreage with Shop Space

      3.16-acre property with potential for live-work space or business.
      210 Grider Road, Columbia, KY 42728
      View Details
    • $549,000

      Versatile Commercial Property in Columbia, KY

      1.87 acres with historic building and warehouse space.
      210 Merchant Street, Columbia, KY 42728
      View Details
    • $545,000
      2,160 SF

      Kentucky Farm with Customizable Home

      66.5-acre farm with spacious home near Lake Cumberland.
      316 Old Sulphur Springs Road, Columbia, KY 42728
      View Details
    • $125,000

      Versatile Acreage Near Columbia, KY

      0.53 acres with a 1472 sq ft building near town.
      188 Grider Road, Columbia, KY 42728
      View Details
    • $375,000

      65.9 Acres of Recreational Land

      Private 65.9-acre recreational land with creek, barn, and abundant wildlife.
      3718 Barnetts Creek Rd, Columbia, KY 42728
      View Details
    • $319,000

      Unrestricted Land in Columbia, KY

      78+ acres of unrestricted land, potential timber and development opportunity.
      4660 Weed Keltner Road, Columbia, KY 42728
      View Details
    • $99,900

      Secluded Land Near Columbia, KY

      5.8 acres of secluded land near Columbia, Kentucky.
      Nixon Road, Columbia, KY 42728
      View Details
    • $79,000

      Unrestricted Land with Utilities Ready

      6 acres with utilities and potential lake in Kentucky.
      6801 Fairplay Road, Columbia, KY 42728
      View Details
    • $50,000

      Land Near Green River

      7 acres of land joining Green River Government Land.
      0 Neat Rd, Columbia, KY 42728
      View Details
    • $145,000

      Columbia, KY Wooded Acreage

      Ten acres of wooded land with recreation and future potential.
      2501 Chestnut Grove Road, Columbia, KY 42728
      View Details
    • $25,000

      Residential Lot with Utilities

      Residential lot with water, septic, and power connections.
      2655 Bird Road, Columbia, KY 42828
      View Details
    • $25,000

      Residential Lot with Utilities

      Lot with water, septic, and power connections in Columbia.
      2655-2 Bird Road, Columbia, KY 42828
      View Details

    FAQs

    What type of property is this?
    Farm - 120+/- acre farm near Columbia, KY with income potential.
    Where is this farm located?
    The property is located at 120 AC Milltown Road Columbia, KY.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 120+/- acre farm featuring approximately 50 acres of income‑producing cropland currently leased.; Bordered on three sides by Russell Creek, offering scenic views and strong water features.; Excellent whitetail deer hunting and abundant wildlife habitat.
    (270) 634-7677
    We can help!
    Listing Contact
    Tammy Stotts
    Real Estate License ID: 262780
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    120 AC Milltown Road, Columbia, KY 42728
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!