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    46 Locust Grove Rd Jamestown, KY 42629

    Sponsored
    For Sale
    Under Contract
    $649,000

    Tri-Level,Barndominium, Residential Farm - Jamestown, KY

    Type:Farm
    Property size:
    2,492 SF
    Lot size:
    51.52 Acres
    Days on Market:
    32
    Last Refresh:
    Jan 30 at 4:06 am

    Property Features for 46 Locust Grove Rd

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active Under Contract
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Den, Loft
    Bedrooms
    4
    Bathrooms
    4
    Parking features
    Driveway
    Patio and Porch features
    Patio
    Interior features
    Attic Storage, Ceiling Fan(s), Closet Light(s), Foam Insulation, Vaulted Ceiling(s), Walk-in Closet(s)
    Exterior features
    Barn, Out Building, Garden Area, Mature Trees, Outdoor Lighting, Patio, Stables, Stamped Concrete Walks, Storage Shed, Trees, All/Perimeter, Barb Wire Fence, Plank Fence, Board, Woven Wire, Fence
    Fencing
    Fenced, Perimeter
    Fireplace
    1
    Appliances
    Dryer, Water - Filter
    Size
    2,492 SF
    Lot size
    51.52 Acres

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air

    Building Details

    Year built
    2023
    Flooring type
    Hardwood, Tile, Vinyl
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Barn(s), Packing Shed, Shed(s), Stable(s), Storage

    We can help!

    Listing Contact
    Rebekah Harney

    Southern Nest Realty, LLC (270) 380-1250

    Listing agent Rebekah Harney (270) 380-1250 License #275050

    Listing date Dec 30, 2025

    MLS# SC47589 Listing URL

    Copyright © 2026 South Central 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.

    Learn more

    Property Insight Report

    Overview

    Residential Farm with Indoor Arena

    This operational farm, situated on Locust Grove Road, encompasses 51 acres of fully fenced land divided into 6 pastures, each equipped with automatic waterers. A 40x250 barn features 8 stalls with space for expansion, along with an indoor arena suitable for riding, livestock housing, or hay storage. The barn also includes a spacious second story for additional storage. The 2,492 square foot house contains 4 bedrooms and 3.5 baths. The main level features a kitchen, dining room, living room, laundry area, and master en-suite, all finished with hardwood flooring or tile. The walk-up basement includes two bedrooms, a full bathroom, and a living area. Upstairs, a guest space offers a bedroom and full bath. The property could be converted into an event barn, taking advantage of its wooden fences, views, and lodging. It is located in Jamestown, KY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Building Supply Auto Repair Shop Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamestown
    County
    Russell
    State
    Kentucky
    Longitude
    -85.1763617
    Latitude
    36.9891834

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    FAQs

    What type of property is this?
    Farm - 51-acre farm featuring a barndominium and indoor arena.
    Where is this farm located?
    The property is located at 46 Locust Grove Rd Jamestown, KY.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: - 51+/- fully fenced acres with 6 sectioned pastures and automatic waterers, ideal for horses or livestock.; - (40x250) barn with **8 stalls, indoor arena, and spacious second story for storage.**; - **4 bedrooms, 3.5 baths, including a main level master en-suite and guest space upstairs.**
    (606) 448-1085
    Request Owner's contact information
    46 Locust Grove Rd Jamestown, KY 42629
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    Jamestown, KY 42629
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    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
    46 Locust Grove Rd Jamestown, KY 42629
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    We can help!
    Listing Contact
    Rebekah Harney
    Real Estate License ID: 275050
    (606) 448-1085
    Learn more
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