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    123 Waddill Ave Madisonville, KY 42431

    For Sale
    $599,000

    Other-See Remarks - Madisonville, KY

    Property size:
    21,800 SF
    Lot size:
    2.00 Acres
    Days on Market:
    124
    Last Refresh:
    Dec 14 at 11:06 pm

    Property Features for 123 Waddill Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Interior features
    Handicap Access, Security System
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Other
    Size
    21,800 SF
    Lot size
    2.00 Acres

    Utilities

    Heating system
    Forced Air, Hot Water (Heating), Natural Gas
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1920
    Building materials
    Brick
    Roof type
    Composition, Other, Rolled/Hot Mop
    Architectural style
    Other

    COLDWELL BANKER-TERRY and ASSOCIATES (270) 821-3131 [email protected]

    Listing agent Cindy McKenzie (270) 821-3131

    Listing date Aug 13, 2025

    MLS# 116634 Listing URL

    Copyright © 2025 Madisonville-Hopkins County Board 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.

    Overview

    Versatile Property with Development Potential

    This property, situated on 2 acres, presents an investor opportunity with potential for residential or commercial development. It is suitable for residential use with a conditional use permit, as well as for a professional office building, venue, or conference room. Updated professional offices, ranging from two to four, are ready for immediate rental or conversion into apartments. Vacant lots included offer numerous possibilities, with ample room for additional construction. The main school building has been emptied and broom cleaned, with only one room requiring ceiling and floor repairs. The remaining rooms are spacious and could be converted into studio apartments or professional offices, complemented by extensive parking. Asbestos has been properly removed from the school area. Additionally, a separate lot fronting N. Franklin Ave., Dr. is available without medical profession restrictions. The offices measure 40 x 26 in size. The property offers a great opportunity, with some initial work already completed, allowing for the immediate commencement of office operations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waddill School Coworking Space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Madisonville
    County
    Hopkins
    State
    Kentucky
    Longitude
    -87.495071
    Latitude
    37.334006

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    FAQs

    What type of property is this?
    School - 2-acre property suitable for residential or commercial development.
    Where is this school located?
    The property is located at 123 Waddill Ave Madisonville, KY.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - 2 acres of land with potential for residential or commercial development with a conditional use permit.; - Updated professional offices (2-4) ready for immediate rental income or conversion to apartments.; - Vacant lots included offer numerous building possibilities.
    (270) 821-3131
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    Realmo Value Estimation

    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.

    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.

    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
    123 Waddill Ave Madisonville, KY 42431
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