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

    204 Wigeon Ct Winchester, KY 40391

    Sponsored
    For Sale
    $49,500

    LAND - Winchester, KY

    Lot size:
    0.98 Acres
    Days on Market:
    32
    Last Refresh:
    Jan 31 at 3:06 pm

    Property Features for 204 Wigeon Ct

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-1C
    APN
    043-2004-035-00
    Lot size
    0.98 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    James Woodrum
    James Woodrum

    RE/MAX Creative Realty (859) 422-2000

    Listing agent James Woodrum (859) 422-2000

    Listing date Dec 31, 2025

    MLS# 25005098 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

    Residential Land in Quiet Cul-de-Sac

    This 0.98-acre residential land is located in Mallard Place, Winchester, Kentucky. Situated in a quiet cul-de-sac at the rear of the subdivision, the property offers a private setting. It is zoned R-1C, allowing for the construction of a home. The location provides convenient access to schools, shopping, and major routes I-64 and I-75. Hamburg/Lexington is a 20-minute drive away, and the Winchester Bypass is only 5 minutes away. Prospective buyers can select their own builder to construct a home on this lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Winchester
    County
    Clark
    State
    Kentucky
    Longitude
    -85.713897
    Latitude
    38.003001

    Nearby Similar for Sale

    • $525,000
      5,094 SF

      Mixed-Use Property in Winchester, KY

      Versatile property with commercial space and residential income potential.
      808 Bypass Rd, Winchester, KY 40391
      View Details
    • $1,799,900
      20,252 SF

      Winchester Industrial Facility For Sale

      20,252 sqft industrial warehouse with highway access and racking.
      599 Blt Way, Winchester, KY 40391
      View Details
    • New
      $394,000
      1,536 SF

      Established Turn-Key Business Opportunity

      Well-equipped bar/restaurant with liquor license in historic Winchester.
      137 East Broadway St, Winchester, KY 40391
      View Details
    • $269,900
      3,393 SF

      Winchester Multifamily Investment Opportunity

      Multifamily property in Downtown Winchester with strong rental potential.
      146 W Lexington Ave, Winchester, KY 40391
      View Details
    • $439,900
      2,269 SF

      Income-Producing Property Near Downtown Winchester

      Income opportunity: salon with apartment in prime location near downtown.
      1125 W Lexington Ave, Winchester, KY 40391
      View Details
    • $259,900
      2,683 SF

      Spacious Investment Property in Winchester

      Updated investment property with large living spaces and endless possibilities.
      217 S Highland St, Winchester, KY 40391
      View Details
    • $248,900
      3,007 SF

      Winchester Triplex: Investor Opportunity

      Fully occupied triplex in Winchester with immediate cash flow potential.
      221 S Highland St, Winchester, KY 40391
      View Details
    • $290,000
      4,010 SF

      Winchester Quad Plex Income Property

      Income-producing quad plex with four 3-bed, 1-bath units.
      149 Winn Ave, Winchester, KY 40391
      View Details
    • $249,000
      4,180 SF

      Versatile Commercial Building in Winchester

      4,180 SF building suitable for automotive, warehouse, or retail.
      300 W Broadway St, Winchester, KY 40391
      View Details
    • $429,000
      3,538 SF

      Historic Mixed-Use Building in Winchester

      Renovated historic building with restaurant and apartment in downtown Winchester.
      39 S Main St, Winchester, KY 40391
      View Details
    • $1,300,000
      4,331 SF

      Medical Office Building on Bypass Road

      Class A medical office building near Walmart with investment potential.
      2570 Bypass Rd, Winchester, KY 40391
      View Details
    • $299,900
      0.12 Acres

      Downtown Winchester Mixed-Use Building

      Renovated mixed-use building in downtown Winchester, near new apartments.
      18 N Main St, Winchester, KY 40391
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for sale in Winchester, Kentucky, near Lexington.
    Where is this residential land & home lot located?
    The property is located at 204 Wigeon Ct Winchester, KY.
    What is the asking price?
    The asking price for this property is $49,500.
    What are key features of this property?
    This property features: - Build your dream home with your preferred builder.; - Quiet cul-de-sac location at the rear of the subdivision.; - Conveniently located: 20 minutes to Hamburg/Lexington.
    (859) 492-0737
    Request Owner's contact information
    204 Wigeon Ct Winchester, KY 40391
    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.
    204 Wigeon Ct
    Winchester, KY 40391
    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
    204 Wigeon Ct Winchester, KY 40391
    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
    James Woodrum
    James Woodrum
    Real Estate License ID: 210324
    (859) 492-0737
    Learn more
    Google sign-in failed. Please try again or use another login method.