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

    3205 Old Monterey Rd Owenton, KY 40359

    View on Map
    Claim this Listing
    For Sale
    $120,000

    LAND - Owenton, KY

    Lot size:
    24.60 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    12
    Last Refresh:
    Apr 14 at 11:06 pm

    Property Features for 3205 Old Monterey Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    062-00-00-010.05
    Lot size
    24.60 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Kevin W Lewis

    Listing agent Kevin W Lewis License #239746

    Listing office RE/MAX Premier Properties 10605 Shelbyville Road, Louisville, KY

    Listing date Apr 3, 2026

    MLS# 1713413 Listing URL

    Copyright © 2026 Greater Louisville Association 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.

    Overview

    Kentucky Land for Sale

    This 24-acre property in Corinth, Kentucky, features rolling terrain, a mix of open ground and wooded areas, and multiple potential build sites. It is offered as two 12-acre tracts, providing flexibility for a private homesite, recreational use, or investment opportunity. The land offers a balance of usable ground and natural privacy, with gently rolling topography suitable for building while providing scenic views and seclusion. There is space to create trails or design an ideal setup. Electric is available at the road, and public water is available in the area; however, the buyer must verify connection and availability. Located in Owenton, Kentucky.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Owenton
    County
    Owen
    State
    Kentucky
    Longitude
    -84.830322
    Latitude
    38.49971

    Nearby Similar for Sale

    • $24,900

      Waterfront Lot in Elk Lake

      Spacious, wooded lot with lake access and community amenities.
      445 Elk Lake Resort Road unit: 1421, Owenton, KY 40359
      View Details
    • $50,000

      Land with Lake Views

      Land with lake views, suitable for campers or residence.
      3105 GRATZ ROAD 59 & 60, Owenton, KY 40359
      View Details
    • $350,000
      2,304 SF

      Income-Producing Tri-Plex on Acreage

      Tri-plex on 7 acres near Owenton, Kentucky.
      100 Jackie Lane, Owenton, KY 40359
      View Details
    • $79,999

      Waterfront Land on Elmer Davis

      2.2 acres of waterfront property with dock and cabin.
      3105 Gratz Road, Owenton, KY 40359
      View Details
    • $199,900

      Wooded Land with Hunting Shack

      29.72 acres with hunting shack in Owen County, Kentucky.
      1965 Breck Road, Owenton, KY 40359
      View Details
    • $22,500

      Land in Owenton, Kentucky

      3.14+/- acre residential land with convenient highway access.
      Jackie Lane lot: 5-7, Owenton, KY 40359
      View Details
    • $15,000

      Land in Owenton, Kentucky

      2.1+/- acre lot with convenient access to town.
      Jackie Lane lot: 1-2, Owenton, KY 40359
      View Details
    • $139,000

      Versatile Land Near Rich WMA

      22.5 acres with utilities, bordering public hunting and recreational area.
      0 Old Beechwood Rd, Other, KY 40359
      View Details
    • $134,900

      Land Near Public Hunting Area

      22.5 acres bordering a large wildlife management area.
      0 Old Owenton Georgetown Rd, Other, KY 40359
      View Details
    • $269,000

      Prime Hunting Land For Sale

      45-acre hunting tract bordering Dr. James R. Rich WMA.
      502 Old Beechwood Rd, Other, KY 40359
      View Details
    • $148,000

      Residential Land in Owenton, KY

      11+ acres suitable for multiple homes or duplexes.
      150 Gaines Avenue, Owenton, KY 40359
      View Details
    • $125,000

      Commercial Land in Prime Location

      Commercial property on Highway 127 North with available utilities.
      0 North St, Owenton, KY, 40359
      View Details

    FAQs

    What type of property is this?
    Land - 24 acres in Corinth, KY with building potential.
    Where is this land located?
    The property is located at 3205 Old Monterey Rd Owenton, KY.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: 24 Acres (or Two 12‑Acre Tracts) in Corinth, KY; Multiple Potential Build Sites; Mix of Open Ground and Wooded Areas
    (502) 384-5944
    We can help!
    Listing Contact
    Kevin W Lewis
    Real Estate License ID: 239746
    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!