Sign Up Successful!
You now have access to more from Realmo!
    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

    1969 Hannah Rd Shelbyville, KY 40065

    Sponsored
    For Sale
    Pending
    $349,000

    LAND - Shelbyville, KY

    Lot size:
    17.09 Acres
    Days on Market:
    130
    Last Refresh:
    Feb 3 at 7:06 pm

    Property Features for 1969 Hannah Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    AR
    Lot size
    17.09 Acres

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Barry Webb

    eXp Realty (188) 862-4644

    Listing agent Barry Webb

    Listing date Sep 27, 2025

    MLS# 24007360 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.

    Learn more

    Property Insight Report

    Overview

    17.09 Acre Tract in Shelbyville

    This 17.09-acre tract of land is located in Shelbyville, Kentucky, in the Simpsonville area, and is zoned AR. Situated in the heart of Saddlebred horse country, the property is suitable for horses and other animals. The land presents an opportunity to build a new home. Additional tracts are available. The location is just minutes from Louisville and Shelbyville.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Kentucky
    Longitude
    -85.324145
    Latitude
    38.310049

    Nearby Similar for Sale

    • $1,950,000
      34.78 Acres

      Luxury Country Estate on Acres

      Spacious 5-bedroom estate on 34.78 acres in Shelbyville, KY.
      517 Aiken Rd, Shelbyville, KY 40065
      View Details
    • $499,000
      Pending

      Shelbyville Land with Farmhouse Charm

      20+ acre property with a charming 3-bedroom farmhouse.
      206 Jail Hill Rd, Shelbyville, KY 40065
      View Details
    • $849,000
      28.00 Acres

      Shelbyville Land with Lake Cottage

      28 acres with lake, cottage, and caboose near horse farms.
      5976 Eminence Pike, Shelbyville, KY 40065
      View Details
    • $799,000
      35.22 Acres

      Shelbyville Land with Large Barn

      35+ acre horse property with barn near I-64.
      6692 Hempridge Rd, Shelbyville, KY 40065
      View Details
    • New
      $379,500
      24.02 Acres

      Shelbyville Land with Barns

      24.01 acres with two barns in Shelbyville, Kentucky.
      200 Flood Rd, Shelbyville, KY 40065
      View Details
    • Contact for pricing

      Grocery-Anchored Retail Center For Sale

      94,588 SF shopping center anchored by Save-A-Lot.
      11-26 Village Ln, Shelbyville, KY 40065
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 17.09 acre tract suitable for horses and other animals.
    Where is this horse & equestrian property located?
    The property is located at 1969 Hannah Rd Shelbyville, KY.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: - Large 17.09 Acre Tract, perfect for your dream estate.; - Suitable for Horses and Other Animals.; - Located in desirable Saddlebred Horse Country.
    (188) 862-4644
    Request Owner's contact information
    1969 Hannah Rd Shelbyville, KY 40065
    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.
    1969 Hannah Rd
    Shelbyville, KY 40065
    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
    1969 Hannah Rd Shelbyville, KY 40065
    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
    Barry Webb
    (188) 862-4644
    Learn more
    Google sign-in failed. Please try again or use another login method.