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

    298 Southwood Dr Gilbertsville, KY 42044

    Sponsored
    For Sale
    Contact for pricing

    Residential - Gilbertsville, KY

    Lot size:
    0.24 Acres
    Days on Market:
    209
    Last Refresh:
    Feb 8 at 4:06 am

    Property Features for 298 Southwood Dr

    General Information

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

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kimberly Wiggins

    Spraggs Real Estate & Auction Co.,LLC (270) 362-7653

    Listing agent Kimberly Wiggins (270) 362-7653 License #279160

    Listing date Jul 15, 2025

    MLS# 132798 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.

    Learn more

    Property Insight Report

    Overview

    Residential Land Near Lake

    Residential lots are available in the Running Bear Subdivision, which includes a boat ramp for residents. The lots are conveniently located near Rocky Point Public Boat Ramp, just minutes away. The property is in Gilbertsville, KY, with a lot size of 0.24 acres. It is located in Marshall County. The property is intended for residential use. The location offers lake access and recreational opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbertsville
    County
    Marshall
    State
    Kentucky
    Longitude
    -88.259757
    Latitude
    36.948959

    Nearby Similar for Sale

    • New
      $350,000

      Updated Duplex on Kentucky Lake

      Income-producing duplex with private dock on Kentucky Lake.
      347/349 Wildwood Cir, Gilbertsville, KY 42044
      View Details
    • $650,000

      Remodeled Apartment Complex with RV Park

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

      Remodeled Apartments and RV Park

      Apartment complex with RV park near Kentucky Lake.
      6804 Us Highway 641, Gilbertsville, KY 42044
      View Details
    • $550,000

      Income Property Near Kentucky Lake

      Eleven units on 2.5 acres near Kentucky Lake.
      6708 Us Highway 641 N, Gilbertsville, KY 42044
      View Details
    • $499,000

      Gilbertsville Business Opportunity For Sale

      9.25 acre commercial site with multiple buildings and opportunities.
      7521 Us Hwy 641N, Gilbertsville, KY 42044
      View Details
    • $499,000
      1,248 SF

      Gilbertsville Commercial Property - Hwy 641N

      Prime KY location, multiple income streams, 9.25 acres
      7521 Us Hwy, Gilbertsville, KY 42044
      View Details
    • $1,500,000
      21,756 SF

      500

      000 MLS#128669""""}"""
      6953 Us Highway 641, Gilbertsville, KY 42044
      View Details

    FAQs

    What type of property is this?
    Land - Residential lots with lake access and recreational opportunities.
    Where is this land located?
    The property is located at 298 Southwood Dr Gilbertsville, KY.
    What is the asking price?
    The asking price for this property is $19,500.
    What are key features of this property?
    This property features: - Lake area lots available.; - Running Bear Subdivision with boat ramp.; - Conveniently located near Rocky Point Public Boat Ramp.
    (270) 205-1010
    Request Owner's contact information
    298 Southwood Dr Gilbertsville, KY 42044
    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.
    298 Southwood Dr
    Gilbertsville, KY 42044
    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
    298 Southwood Dr Gilbertsville, KY 42044
    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
    Kimberly Wiggins
    Real Estate License ID: 279160
    (270) 205-1010
    Learn more
    Google sign-in failed. Please try again or use another login method.