Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1815 Luther Herald Rd Franklin, KY 42134

    View on Map
    Sponsored
    For Sale
    Under Contract
    $39,500

    Acreage - Franklin, KY

    Lot size:
    1.08 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 8 at 6:06 am

    Property Features for 1815 Luther Herald Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    4-7A
    Lot size
    1.08 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Nichole Mann
    Nichole Mann

    Coldwell Banker, The Advantage Realtor Group Inc. (270) 586-0912

    Listing agent Nichole Mann (270) 586-0912 License #223013

    Listing date Mar 6, 2026

    MLS# RA20261161 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. 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 Land in Franklin, KY

    This 1.08-acre property is located in Franklin, Kentucky, and is suitable for residential use. The site is equipped with existing electric, water, and septic systems. Its location provides convenient access to Franklin, Scottsville, Bowling Green, and Nashville, making it a suitable location for a permanent residence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Franklin
    County
    Simpson
    State
    Kentucky
    Longitude
    -86.4136212
    Latitude
    36.6922208

    Nearby Similar for Sale

    • $650,000
      1.31 Acres

      Well-Maintained Building Near Hospital

      Commercial building near hospital, ideal for medical or dental practice.
      201 Pleasant Valley Rd, Franklin, KY 42134
      View Details
    • New
      $700,000
      1,740 SF

      Residential Farm with Remodeled Farmhouse

      30-acre farm with potential for various agricultural uses.
      2108 Mckendree Chapel Rd, Franklin, KY 42134
      View Details
    • $230,000
      1,540 SF

      Professional Office in High-Visibility Area

      Versatile office space suitable for various professional services.
      311 W Madison St, Franklin, KY 42134
      View Details
    • $190,000
      0.32 Acres

      Downtown Franklin Commercial Property

      Charming commercial property with original features in downtown Franklin.
      300 W Kentucky Ave, Franklin, KY 42134
      View Details
    • $475,000
      2,400 SF

      Franklin Commercial Space on 31W

      Commercial space on 31W with high visibility and traffic.
      828 N Main St, Franklin, KY 42134
      View Details
    • $230,000
      0.14 Acres

      Professional Office in High-Visibility Area

      Versatile office space suitable for various professional services.
      311 W Madison St, Franklin, KY 42134
      View Details
    • $699,900
      2,302 SF

      Franklin, KY Country Estate

      Pristine 25.69-acre country estate with spacious home and outbuildings.
      11144 Franklin Rd, Franklin, KY 42133
      View Details
    • $750,000
      0.84 Acres

      Commercial Property Near Medical Facilities

      Commercial property with 12 rooms and full bathrooms near hospital.
      1117 Brookhaven Rd, Franklin, KY 42134
      View Details
    • New
      $1,656,000
      110.00 Acres

      Kentucky Row Crop Farm

      110+/- acre farm suitable for growing various crops.
      2400 Sportsman Lake Rd, Franklin, KY 42134
      View Details
    • New
      $279,900
      20.03 Acres

      Kentucky Farmland on Roark Road

      20.03 acres of rolling Kentucky farmland near Franklin.
      4 Roark Rd, Franklin, KY 42134
      View Details
    • $270,000
      840 SF

      Allen County Barndominium on Acreage

      6-acre property with new barndominium near Franklin, Kentucky.
      11875 Franklin Rd, Franklin, KY 42134
      View Details
    • $265,000
      0.31 Acres

      Versatile Commercial Property in Franklin

      Commercial property with office space, parking, and high visibility.
      417 N Main St, Franklin, KY 42134
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Acreage with utilities ready for a new home.
    Where is this residential land & home lot located?
    The property is located at 1815 Luther Herald Rd Franklin, KY.
    What is the asking price?
    The asking price for this property is $39,500.
    What are key features of this property?
    This property features: - Utilities (electric, water, and septic) already available on the property.; - Convenient location with easy access to Franklin, Scottsville, Bowling Green, and Nashville.; - Ideal for building a permanent residence.
    (270) 816-3969
    Request Owner's contact information
    1815 Luther Herald Rd Franklin, KY 42134
    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.
    1815 Luther Herald Rd
    Franklin, KY 42134
    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
    1815 Luther Herald Rd Franklin, KY 42134
    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
    Nichole Mann
    Nichole Mann
    Real Estate License ID: 223013
    (270) 816-3969 (270) 586-0912
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!