Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    517 Aiken Rd Shelbyville, KY 40065

    View on Map
    Claim this Listing
    For Sale
    $1,925,000

    LAND - Shelbyville, KY

    Lot size:
    34.78 Acres
    Added:
    Jul 9, 2025
    Days on Market:
    301
    Last Refresh:
    May 5 at 8:06 pm

    Property Features for 517 Aiken Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    02900007
    Lot size
    34.78 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Chrissy Gandolfo

    Listing agent Chrissy Gandolfo License #219397

    Listing office RE Solutions LLC 8712 Bayberry Place, Louisville, KY

    Listing date Jul 9, 2025

    MLS# 1691889 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

    Shelbyville Land with Luxury Estate

    This estate, situated on just under 35 acres, features 5 bedrooms and 6.5 baths, combining comfort with rural elegance. The two-story great room includes soaring windows that frame views of the countryside. The open-concept design flows into a chef's kitchen, equipped with double ovens, two dishwashers, a waterfall quartz island with storage, a 46-inch prep sink, and an expansive walk-in pantry. The vaulted hearth room provides additional living or dining space. The main-floor primary suite offers a walk-in closet and private patio access overlooking the landscape. Upstairs, there are four bedrooms, two with ensuite baths and two sharing a Jack-and-Jill bath. The finished basement includes space for a potential home gym, a bonus space that was used as a golf simulator, a bonus space with a full bath, a game area, and a living room. Outside, there is ample storage for equipment, a greenhouse attached to the bonus two-car detached garage, raised garden beds with a wrap-around chicken run, and fenced acreage suitable for horses, cattle, goats, or chickens. Wooded areas and a creek attract wildlife, including deer and wild turkey. The property is located in Shelbyville, KY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Kentucky
    Longitude
    -85.2766305
    Latitude
    38.2877794

    Nearby Similar for Sale

    • $174,500

      Shelbyville Land for Dream Home

      5.5-acre walkout lot in scenic Stallard Springs community.
      Tract 7 S Stallard Dr, Shelbyville, KY 40065
      View Details
    • $164,900

      Shelbyville Land: Build Your Dream

      5.53-acre lot in scenic Stallard Springs community.
      6 S Stallard Dr, Shelbyville, KY 40065
      View Details
    • $3,933,475

      Shelby County Farmland Opportunity

      224.77 acres of contiguous farmland in Shelby County, Kentucky.
      3333 Burks Branch Rd, Shelbyville, KY 40065
      View Details
    • $330,000

      Shelbyville Land for Residential Development

      7.26 acres of land ready for residential development.
      382 Eddie Ln unit: Tract 3, Shelbyville, KY 40065
      View Details
    • $799,000

      Shelbyville Land with Large Barn

      35+ acre horse property with barn near I-64.
      6692 Hempridge Rd, Shelbyville, KY 40065
      View Details
    • $325,000

      Shelby County Building Tract

      27.15 acres in Shelby County, great school district.
      Tract 10 Buckley Ln, Shelbyville, KY 40065
      View Details
    • $278,845

      Shelbyville Land For Sale

      17.99 acres of land in Shelbyville, Kentucky.
      Tract 9 Anderson Ln, Shelbyville, KY 40065
      View Details
    • $365,000

      Shelbyville Pasture Land For Sale

      15 acres of Kentucky pasture, ideal for custom home.
      TRACT 1 EMINENCE PIKE FARMS, Shelbyville, KY 40065
      View Details
    • $395,000

      Shelbyville Land with Sweeping Pasture

      17.50 acres of pasture with elevated views in Shelbyville.
      TRACT 3 EMINENCE PIKE FARMS, Shelbyville, KY 40065
      View Details
    • $249,900

      Shelbyville Land For Sale

      6.31 acre building lot ideal for equestrian use.
      270 Haley Rd, Shelbyville, KY 40065
      View Details
    • $258,540

      Shelbyville Land For Sale

      16.68 acres of land in Shelbyville, Kentucky.
      Tract 8 Anderson Ln, Shelbyville, KY 40065
      View Details
    • $425,000

      Shelbyville Land: 20 Acre Tract

      20 acre tract ideal for custom home or estate.
      TRACT 4 EMINENCE PIKE FARMS, Shelbyville, KY 40065
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 34.78 acres estate with modern luxury and country living.
    Where is this horse & equestrian property located?
    The property is located at 517 Aiken Rd Shelbyville, KY.
    What is the asking price?
    The asking price for this property is $1,925,000.
    What are key features of this property?
    This property features: Just under 35 acres of land, ideal for livestock or recreation.; Boasting 5 bedrooms and 6.5 bathrooms.; Chef's kitchen with **double ovens, 2 dishwashers, and a waterfall quartz island.**
    (502) 396-5735
    We can help!
    Listing Contact
    Chrissy Gandolfo
    Real Estate License ID: 219397
    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

    Thank You for Inquiry
    517 Aiken Rd, Shelbyville, KY 40065
    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!