Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Pikeville Medical Office Space Available Title is generated by Realmo AI

    387 Town Mountain Rd, Pikeville, KY 41501

    View on Map
    Claim this Listing
    For Sale
    $99,000

    Commercial - Pikeville, KY

    Property size:
    952 SF
    Price / SF:
    $103/SF
    Added:
    Apr 10, 2026
    Days on Market:
    49
    Last Refresh:
    May 28 at 8:06 am

    Property Features for 387 Town Mountain Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed
    Standard status
    Active
    Size
    952 SF

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1964
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Jo Newsome

    Listing agent Jo Newsome

    Listing office Valley Agency, Inc. KY

    Listing date Apr 10, 2026

    MLS# 128477 Listing URL

    Copyright © 2026 Eastern Kentucky 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.

    HighLights

    • Affordable medical office space
    • Located near Pikeville Medical Center
    • Convenient access to downtown Pikeville
    • Brick construction
    • Central air conditioning
    • Heat pump heating

    Overview

    This commercial property in Pikeville, Kentucky, offers approximately 952 square feet of space. The property is zoned for mixed use. It is located near Pikeville Medical Center and downtown Pikeville, offering convenient access to local amenities and services. The property is suitable for use as medical office space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wheeler Charles P ... Ophthalmologist Mccowan Rebecca C ... Physician Eastern Kentucky Treatment ... Medical Clinic Cline Medical Group Physician Dr. Timothy P. ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Pikeville
    County
    Pike
    State
    Kentucky
    Longitude
    -82.503673
    Latitude
    37.490061

    Nearby Similar for Sale

    • $135,000
      1,720 SF

      Turnkey Medical Suite in Pikeville

      Move-in ready medical suite for healthcare services or investment.
      387 Town Mountain Road, Pikeville, KY 41501
      View Details
    • $649,000
      5,012 SF

      Pikeville Multifamily Investment Opportunity

      Five-unit property near UPIKE and local amenities in downtown Pikeville.
      605 Hambley Blvd, Pikeville, KY 41501
      View Details
    • $239,000
      1,368 SF

      Renovated Duplex with Mountain Views

      Cash flowing, fully furnished duplex near colleges and hospital.
      219 Peach Orchard Drive, Pikeville, KY 41501
      View Details
    • $269,000
      2,319 SF

      Pikeville Duplex: Live and Rent

      Versatile duplex in Downtown Pikeville: live in one, rent the other.
      520 Town Mountain Road, Pikeville, KY 41501
      View Details
    • $3,650,000
      8,500 SF

      Pikeville Retail Center For Sale

      Two-tenant retail center anchored by Fast Pace Urgent Care.
      115 Lee Ave, Pikeville, KY 41501
      View Details
    • $1,531,425
      12,668 SF

      Pikeville, KY Dollar General Market

      New Dollar General Market in Pikeville, KY for sale.
      9751 Millard Hwy, Pikeville, KY
      View Details
    • $1,531,425
      12,668 SF

      DG Market Pikeville, KY

      Dollar General Market NNN lease with nearly 15 years remaining.
      9751 Millard Hwy, Pikeville, KY 41501
      View Details
    • $3,650,000
      8,500 SF

      Pikeville Retail Center For Sale

      Two-tenant retail center anchored by Fast Pace Urgent Care.
      115 Lee Ave, Pikeville, KY 41501
      View Details
    • $500,000

      Pike County Farmland with Rights

      219+ acre farm in Pike County with mineral rights.
      15100 State Highway 194, Pikeville, KY 41501
      View Details
    • Contact for pricing
      130,680 SF

      Retail and Restaurant Opportunities Available

      Retail and restaurant spaces available near shopping center.
      175 Lee Ave, Pikeville, KY 41501
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Affordable medical office space near Pikeville Medical Center.
    Where is this medical office space located?
    The property is located at 387 Town Mountain Rd Pikeville, KY.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: Affordable medical office space; Located near Pikeville Medical Center; Convenient access to downtown Pikeville
    (606) 791-1985
    We can help!
    Listing Contact
    Jo Newsome
    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

    Thank You for Inquiry
    387 Town Mountain Rd, Pikeville, KY 41501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!