Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    156 Colonial Way Danville, KY 40422

    View on Map
    Claim this Listing
    For Sale
    $55,000

    LAND - Danville, KY

    Lot size:
    0.40 Acres
    Added:
    Jun 10, 2024
    Days on Market:
    696
    Last Refresh:
    May 6 at 12:06 pm

    Property Features for 156 Colonial Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1A
    Standard status
    Active
    APN
    D20006010
    Lot size
    0.40 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Benita Deyo

    Listing agent Benita Deyo

    Listing office Dexter Real Estate 116 E Main St, Danville, KY

    Listing date Jun 10, 2024

    MLS# 24011806 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.

    HighLights

    • Beautiful views from hilltop location.
    • Next to the Danville Country Club.
    • Buyer can select their own builder.
    • Cable Available.
    • Located in established neighborhood (Sec.8, Plat File 1549‑A).
    • New custom home being built nearby (Lot 11).

    Overview

    Danville, KY Building Lot

    This building lot, identified as Lot #10 in Section 8 of Plat File 1549-A, offers views from its location at the top of the hill on Colonial Way in Danville, KY. Situated next to the Danville Country Club, the property is located across the street from the residence of John & Kaye Barber at 155 Colonial Way. A new custom home is currently under construction by Jeff Baird at 158 Colonial Way, which is Lot 11. The lot size is 0.4 acres. Buyers have the freedom to select their builder, although house plans are subject to approval by the developer, Grabruck LLC. The zoning is R-1A.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Boyle
    State
    Kentucky
    Longitude
    -84.741339
    Latitude
    37.649898

    Nearby Similar for Sale

    • $449,500
      6,000 SF

      Updated Commercial Building, Danville, KY

      Move-in ready 6,000 sq ft commercial building with flexible layout.
      541 S 4th Street, Danville, KY 40422
      View Details
    • $399,000
      2,880 SF

      Danville Commercial Building on Stanford

      2,880 sq ft commercial building on high-traffic corridor.
      1125 Stanford Road, Danville, KY 40422
      View Details
    • $449,000
      1,976 SF

      Danville Commercial Property with Speakeasy Atmosphere

      Specialty mixed-use commercial property with speakeasy-style atmosphere and sports lounge vibe.
      422 Fryes Lane, Danville, KY 40422
      View Details
    • $249,000
      7,600 SF

      Danville Multi-Level Commercial Opportunity

      Multi-level property near downtown Danville, ideal for commercial or residential conversion.
      205 Otter Street, Danville, KY 40422
      View Details
    • $1,200,000
      13,000 SF

      Downtown Danville Office Building

      Large office building with multiple spaces and secure access.
      198 W Broadway Street, Danville, KY 40422
      View Details
    • $379,900
      2,234 SF

      Updated Home with Income Potential

      Updated 1906 home in Danville, Kentucky, with commercial potential.
      424 S 4th Street, Danville, KY 40422
      View Details
    • $1,240,000
      10,800 SF

      Magnificent Office Building in Danville

      Spacious office building with quality construction in downtown Danville.
      459 W Martin Luther King Boulevard, Danville, KY 40422
      View Details
    • $379,900
      2,234 SF

      Updated Home in Danville, KY

      Updated 1906 home with income-producing potential in Danville, Kentucky.
      424 S 4th Street, Danville, KY 40422
      View Details
    • $1,199,000
      1,800 SF

      Renovated Danville Commercial Live/Work Property

      Multi-functional commercial asset with live/work capability in Danville, KY.
      446 Roy Arnold Boulevard, Danville, KY 40422
      View Details
    • $169,000
      1,400 SF

      Danville Commercial Property with Garage

      Commercial building with garage doors and ample parking.
      1121 Stanford Road, Danville, KY 40422
      View Details
    • $485,000
      3,450 SF

      Danville Commercial Building For Sale

      Commercial building with flexible space in Greenleaf Shopping Center.
      1000 E Lexington Avenue unit: #112, #116, #118, #120, Danville, KY 40422
      View Details
    • $1,025,781
      5,850 SF

      Danville Commercial Investment Opportunity

      Prime commercial investment in Danville's expanding medical park area.
      479 Whirlaway Drive, Danville, KY 40422
      View Details

    FAQs

    What type of property is this?
    Land - Building lot with views, near Danville Country Club.
    Where is this land located?
    The property is located at 156 Colonial Way Danville, KY.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: Beautiful views from hilltop location.; Next to the Danville Country Club.; Buyer can select their own builder.
    (859) 236-6686
    We can help!
    Listing Contact
    Benita Deyo
    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
    156 Colonial Way, Danville, KY 40422
    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!