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

    27 Paradise Point Rd Gilbertsville, KY 42044

    View on Map
    Claim this Listing
    For Sale
    $368,000

    Residential - Gilbertsville, KY

    Lot size:
    0.69 Acres
    Added:
    Aug 3, 2025
    Days on Market:
    256
    Last Refresh:
    Apr 15 at 2:06 am

    Property Features for 27 Paradise Point Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.69 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jennifer Palmer, CRS
    Jennifer Palmer, CRS

    Listing agent Jennifer Palmer, CRS License #267530

    Listing office Jennifer Palmer Realty 486 Nanny Road, Mayfield, KY

    Listing date Aug 3, 2025

    MLS# 122709 Listing URL

    Copyright © 2026 Western Kentucky Regional MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Gilbertsville Land with Lake View

    Three lots totaling over 0.5 acres are available in the Cambridge Shores Subdivision. The property is situated on a hill and offers a water view of Kentucky Lake. A red crape myrtle tree is located on the lots. Residents can access amenities including two boat ramps, a covered picnic pavilion, a swim area with a sandy beach, courtesy docks, a tennis court, a basketball court, and a private clubhouse. The annual HOA fee is $175.00.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency HVAC Service Wine and Liquor Store Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbertsville
    County
    Marshall
    State
    Kentucky
    Longitude
    -88.228222
    Latitude
    36.939903

    Nearby Similar for Sale

    • $399,900

      Prime Kentucky Lake Development Land

      21.8+ acres of commercial land in a prime location.
      000 US Highway 62, Gilbertsville, KY 42044
      View Details
    • $650,000

      Remodeled Apartment Complex with RV Park

      Apartment complex with RV park near Kentucky Lake.
      6804 US HWY 641, Gilbertsville, KY 42044
      View Details
    • $650,000

      Remodeled Apartments and RV Park

      Apartment complex with RV park near Kentucky Lake.
      6804 US HWY 641, Gilbertsville, KY 42044
      View Details
    • $525,000

      Income Property Near Kentucky Lake

      Eleven units on 2.5 acres near Kentucky Lake.
      6708 US Highway 641 N, Gilbertsville, KY 42044
      View Details
    • $675,000

      Recreational Land with Water Features

      270-acre recreational tract with diverse habitat and water features.
      000 Red River Rd, Gilbertsville, KY 42044
      View Details
    • $79,900

      Gilbertsville Land Near Kentucky Lake

      Acreage near Kentucky Lake with utilities in place.
      34 Park Ridge, Gilbertsville, KY 42066
      View Details
    • $375,000

      Waterfront Lot with Covered Dock

      1.14 acre waterfront lot with 2-slip covered dock.
      81 John Phillips Ln, Gilbertsville, KY 42024
      View Details
    • $12,900

      Residential Lot Near Kentucky Lake

      0.47-acre residential lot in Sledd View Estates.
      57 Willow Dr, Gilbertsville, KY 42044
      View Details
    • $119,900

      Kentucky Lake View Residential Lots

      Two residential lots with water views and community amenities.
      522 Cambridge Shores Drive, Gilbertsville, KY 42044
      View Details
    • $129,900

      Residential Land Near Rocky Point

      Restricted residential land near Rocky Point County Park and boat launch.
      500 Little Bear Hwy, Gilbertsville, KY 42044
      View Details
    • $199,000

      Waterfront Lot Ready to Build

      Cleared 1.65 acre lot with utilities and private dock.
      88 Eleanor, Gilbertsville, KY 42044
      View Details
    • $249,900

      Waterfront Lot on Kentucky Lake

      0.17 acre waterfront lot ready for your dream lake home.
      170 Concord Dr, Gilbertsville, KY 42044
      View Details

    FAQs

    What type of property is this?
    Land - Residential land with water view in Cambridge Shores Subdivision.
    Where is this land located?
    The property is located at 27 Paradise Point Rd Gilbertsville, KY.
    What is the asking price?
    The asking price for this property is $368,000.
    What are key features of this property?
    This property features: Spectacular water view of Kentucky Lake; Three lots totaling over 1/2 acre; Access to Cambridge Shores amenities: 2 boat ramps, picnic pavilion, swim area with sandy beach, courtesy docks, tennis court, basketball court, and private clubhouse
    (270) 519-9000
    We can help!
    Listing Contact
    Jennifer Palmer, CRS
    Jennifer Palmer, CRS
    Real Estate License ID: 267530
    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!