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    5109 Penns Chapel Rd Bowling Green, KY 42101

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    Sponsored
    For Sale
    $639,900

    Residential Farm, Ranch - Bowling Green, KY

    Type:Farm
    Property size:
    1,782 SF
    Lot size:
    20.23 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 26 at 4:06 pm

    Property Features for 5109 Penns Chapel Rd

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Workshop
    Bedrooms
    3
    Bathrooms
    3
    APN
    047A-13C & 047A-15
    Parking features
    Carport, Driveway
    Patio and Porch features
    Patio
    Interior features
    Walk-in Closet(s)
    Exterior features
    Barn, Out Building, Concrete Walks, Covered Patio, Exterior Lights, Garden Area, Landscaping, Mature Trees, Stables, Storage Building, Barb Wire Fence, Other-see Remarks, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    None
    Size
    1,782 SF
    Lot size
    20.23 Acres

    Utilities

    Heating system
    Fireplace(s), Heat Pump (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1973
    Flooring type
    Carpet, Laminate, Vinyl
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Ranch
    Additional Structures
    Barn(s), See Remarks, Stable(s), Storage

    We can help!

    Listing Contact
    Ron Kirby
    Ron Kirby

    United Country, Heartland Realty & Auction, LLC

    Listing agent Chris Gravil License #198496

    Listing date Mar 25, 2026

    MLS# RA20261601 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, 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

    Equine Property in Bowling Green

    This turn-key equine property in Bowling Green, KY, is situated on 20.2 acres divided into two adjoining tracts. The facility is equipped with improvements suitable for horse owners, trainers, or boarding operations, featuring multiple barns, riding areas, and turnout space. The main barn, measuring 72’x80’, includes 11 stalls, a wash bay, tack room, feed room, and space for indoor riding. An additional 40’x96’ hoop barn provides 6 stalls and an indoor turnout or riding area. A third barn offers 11 more stalls. A 30’x40’ shop with concrete floors and electricity is also present. The property features two open-air riding arenas and multiple turnout pastures. The primary residence is a 1,782 sq ft brick home with 3 bedrooms and 1.5 baths, featuring an open kitchen, dining, and living layout. The eat-in kitchen includes custom cabinetry, tile backsplash, and stainless appliances. A 2016 14’x60’ mobile home with 2 bedrooms and 2 baths is also included, suitable for guest quarters, rental income, or caretaker housing. This property offers convenient access to Bowling Green.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Big Oak Farm Horsestable Studfarm Cohron's Mechanical Inc General Contractor

    Suggested Use

    Accounting Firm (Bike/Boat/Book/etc) Store Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bowling Green
    County
    Warren
    State
    Kentucky
    Longitude
    -86.394136
    Latitude
    37.104795

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    FAQs

    What type of property is this?
    Horse & equestrian property - Turn-key horse property on 20.2 acres with multiple barns.
    Where is this horse & equestrian property located?
    The property is located at 5109 Penns Chapel Rd Bowling Green, KY.
    What is the asking price?
    The asking price for this property is $639,900.
    What are key features of this property?
    This property features: - Turn-key equine property on 20.2 acres with multiple barns (totaling 28 stalls) and riding areas, ready for immediate use.; - Includes a main **72’x80’ barn with 11 stalls, wash bay, tack room, feed room, and indoor riding space.**; - Features a primary **1,782 sq ft brick home with 3 bedrooms, 1.5 baths, and updated kitchen.**
    (270) 791-5583
    Request Owner's contact information
    5109 Penns Chapel Rd Bowling Green, KY 42101
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    Bowling Green, KY 42101
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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
    5109 Penns Chapel Rd Bowling Green, KY 42101
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    We can help!
    Listing Contact
    Ron Kirby
    Ron Kirby
    Real Estate License ID: 182691
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