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

    28 Kelly Rd Eddyville, KY 42038

    Sponsored
    For Sale
    $419,900

    Business Opportunity,Commercial,Residence Included - Eddyville, KY

    Property size:
    4,336 SF
    Days on Market:
    17
    Last Refresh:
    Jan 28 at 8:06 pm

    Property Features for 28 Kelly Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Interior features
    Furnished, Kitchen Area, Living Area
    Exterior features
    Parking-Gravel, Storage
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    4,336 SF

    Utilities

    Heating system
    Electric (Heating), Forced Air, Propane (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Ginger Driver

    Haven Realty, LLC (270) 871-1514

    Listing agent Ginger Driver (270) 245-2626

    Listing date Jan 12, 2026

    MLS# 117137 Listing URL

    Copyright © 2026 Madisonville-Hopkins County 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.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Property Near Barkley Lake

    This mixed-use property, located near Barkley Lake and just off I-24 in Eddyville, Kentucky, features a 40x80 Olympia Steel building with 16' sidewalls. The property includes two fully furnished residential units. The downstairs unit has a one-bedroom layout with a living room, kitchen, full bath, and utility room. The upstairs unit features a spacious one-bedroom layout with a large living area, pine clad vaulted ceiling, kitchen, full bath and bright sunroom. The property also includes two extra lots, an attached one-car garage, and a 40x60 heated and cooled garage with a bar, TV, and pool table. The property is located minutes from Eddy Creek Marina and Mineral Mounds Golf Course. The property offers space and versatility and is suitable for both income generation and personal use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Restaurant Auto Repair Shop Storage Facility Convenience Store Wine and Liquor Store Travel Agency Italian Restaurant Steakhouse

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

    Location Insight

    • Map
    • Local Demand
    City
    Eddyville
    County
    Lyon
    State
    Kentucky
    Longitude
    -88.04642
    Latitude
    37.054453

    Nearby Similar for Sale

    • $369,900

      Eddyville Commercial Property with Canopy

      High-visibility corner lot with canopy, offices, and drive-thru window.
      668 Frank Tanner Ave, Eddyville, KY 42038
      View Details
    • $2,150,000

      Eddyville Business Opportunity Near Barkley Lake

      Fully equipped restaurant, bar, and wine-making operation near Barkley Lake.
      2967 State Route 93 S, Eddyville, KY 42078
      View Details
    • $119,000

      Office and Retail Opportunity

      Prime location suitable for office, retail, or new business.
      656 Trade Ave, Eddyville, KY 42038
      View Details
    • $249,900

      Eddyville Commercial Property on Highway

      Large commercial building on 1.39 acres with highway frontage.
      568 Us Highway 62 E, Eddyville, KY 42038
      View Details
    • $425,000
      6,170 SF

      Eddyville Commercial Property - High Traffic

      Income-producing dual-building complex, Hwy 62 frontage.
      430 Us Highway 62, Eddyville, KY 42038
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile property with commercial space and residential units near I-24.
    Where is this mixed-use property located?
    The property is located at 28 Kelly Rd Eddyville, KY.
    What is the asking price?
    The asking price for this property is $419,900.
    What are key features of this property?
    This property features: - Large 40x80 Olympia Steel building with 16' side walls offers versatile space.; - Includes two fully furnished, move-in-ready living units.; - 40x60 heated/cooled garage with bar, TV, and pool table.
    (270) 871-1514
    Request Owner's contact information
    28 Kelly Rd Eddyville, KY 42038
    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.
    28 Kelly Rd
    Eddyville, KY 42038
    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
    28 Kelly Rd Eddyville, KY 42038
    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
    Ginger Driver
    (270) 871-1514
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.