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    597 Prices Mill Rd Adairville, KY 42202

    View on Map
    Sponsored
    For Sale
    $3,500,000

    Residential Farm, Traditional - Adairville, KY

    Type:Farm
    Property size:
    1,962 SF
    Lot size:
    179.00 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 25 at 4:06 pm

    Property Features for 597 Prices Mill Rd

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    089-00-00-016-00
    Parking features
    Carport, Driveway
    Patio and Porch features
    Patio, Porch
    Interior features
    Attic Access Only, Ceiling Fan(s)
    Exterior features
    Barn, Patio, Screened Porch, Storage Shed, Fenced Yard, Fence
    Fencing
    Fenced
    Fireplace
    1
    Size
    1,962 SF
    Lot size
    179.00 Acres

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air
    Water front features
    River, Waterfront
    Water front
    1

    Building Details

    Year built
    1972
    Flooring type
    Carpet, Hardwood, Laminate, Tile, Vinyl
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    New Traditional
    Additional Structures
    Barn(s), Packing Shed, Shed(s), Storage

    We can help!

    Listing Contact
    Ed Cope
    Ed Cope

    Cope & Associates Realty & Auction

    Listing agent Ed Cope License #279597

    Listing date Mar 25, 2026

    MLS# RA20261521 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

    Acreage Farm with River Frontage

    This expansive farm features two homes and significant acreage, including approximately 0.75 miles of Red River frontage. The property offers a blend of tilled soil, fields, and river access suitable for fishing, boating, nature observation, and hiking. The acreage provides privacy, open space, and potential for future development or various outdoor activities. The main residence is a brick, single-family home constructed in 1972, offering approximately 1,962 square feet of living space. It includes three bedrooms and two bathrooms, along with a fireplace, central cooling, radiant heating, and an attached garage. A barn and storage building are also located on the property. Situated in Logan County, near the Kentucky–Tennessee border, the farm is located in a quiet, countryside setting outside of Adairville. The surrounding area consists of farmland, scattered residences, and low-density development, providing a rural lifestyle. The property's acreage is being confirmed with a survey.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Adairville
    County
    Logan
    State
    Kentucky
    Longitude
    -86.8420233
    Latitude
    36.6649343

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    FAQs

    What type of property is this?
    Farm - Farm with two homes and river frontage near Adairville, KY.
    Where is this farm located?
    The property is located at 597 Prices Mill Rd Adairville, KY.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - Expansive 179 +/- acre property with .75 miles of Red River frontage, perfect for farming, fishing, boating, nature watching, and hiking.; - Features two homes, a gym, barn, and storage building.; - Enjoy privacy and open space with potential for future development or outdoor activities.
    (615) 533-9234
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    597 Prices Mill Rd Adairville, KY 42202
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    Adairville, KY 42202
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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
    597 Prices Mill Rd Adairville, KY 42202
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    We can help!
    Listing Contact
    Ed Cope
    Ed Cope
    Real Estate License ID: 279597
    Learn More
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