Add Listing
    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

    1944 N Elm St Henderson, KY 42420

    View on Map
    Claim this Listing
    For Sale
    $69,777

    Residential - Henderson, KY

    Type:Single Family Residence
    Added:
    Apr 10, 2026
    Days on Market:
    10
    Last Refresh:
    Apr 19 at 9:06 am

    Property Features for 1944 N Elm St

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    PATTI BUGG
    PATTI BUGG

    Listing agent PATTI BUGG License #33585

    Listing office REMAX Professional Realty Group 320 1st Street, Henderson, KY

    Listing date Apr 10, 2026

    MLS# 260183 Listing URL

    Copyright © 2026 Henderson Audubon 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

    Residential Office Zoned Land

    This property is a lot zoned RO (Residential Office). Due to the proximity to commercial properties, rezoning to commercial may be possible. A home is present on the lot and requires demolition. The established value of the property is based on land value only.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Henderson
    State
    Kentucky
    Longitude
    -87.5752121
    Latitude
    37.8643191

    Nearby Similar for Sale

    • $500,000
      4,400 SF

      Versatile Commercial Property in Henderson

      Adaptable commercial property with storefront, offices, and practical amenities.
      1651 S Green St, Henderson, KY 42420-9999
      View Details
    • $200,000

      Prime Downtown Henderson Commercial Corner

      High-visibility corner lot ideal for retail, office, or mixed-use.
      239 1st St, Henderson, KY 42420
      View Details
    • $135,000
      1,807 SF

      Henderson Duplex with Income Potential

      Two-unit duplex in Henderson, Kentucky, with studio and two-bedroom units.
      500 1st Street, Henderson, KY 42420
      View Details
    • $59,900

      Henderson Land with Aspen Lake View

      3.77 acre residential land near schools and shopping.
      2445 Summit Dr., Henderson, KY 42420
      View Details
    • $1,800,000
      4,800 SF

      Henderson Retail Opportunity For Sale

      Corner-lot commercial property with redevelopment potential in Henderson, KY.
      1650 N Green St, Henderson, KY 42420
      View Details
    • $279,000
      2,574 SF

      Henderson Triplex Near City Limits

      Three-unit complex with recent updates and full occupancy near Henderson.
      10161 HWY 136 E, Henderson, KY 42420
      View Details
    • $24,900

      Vacant Lot in Greenbrier Subdivision

      Vacant lot for sale in Greenbrier Subdivision, Henderson, KY.
      604 Winchester Rd, Henderson, KY 42420
      View Details
    • $1,705,000

      Prime Highway 41 Farm Opportunity

      116-acre farm with highway frontage in Henderson, Kentucky.
      HWY 41 A, Henderson, KY 42420
      View Details
    • $770,000
      9 SF

      Henderson Industrial Land Opportunity

      9.12-acre industrial site zoned M-2, ideal for development.
      3181 Ohio Dr, Henderson, KY 42420
      View Details
    • $1,800,000
      4,800 SF

      Henderson Retail Property For Sale

      Retail property available for purchase in Henderson, Kentucky.
      1650 N Green St, Henderson, KY 42420
      View Details
    • $770,000

      Henderson Industrial Land Opportunity

      9.12-acre industrial site zoned M-2, ideal for development.
      3181 Ohio Dr, Henderson, KY 42420
      View Details
    • $38,000

      Residential Homesite with Lake Views

      Build-ready homesite with lake views and available utilities.
      541 Blue Heron Lane, Henderson, KY 42420
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land in Henderson, KY, zoned for residential office use.
    Where is this commercial land located?
    The property is located at 1944 N Elm St Henderson, KY.
    What is the asking price?
    The asking price for this property is $69,777.
    What are key features of this property?
    This property features: Zoned RO (Residential Office) offering flexibility.; Potential for commercial rezoning due to proximity to commercial properties.; Value established based on land value.
    (270) 860-2272
    We can help!
    Listing Contact
    PATTI BUGG
    PATTI BUGG
    Real Estate License ID: 33585
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!