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    668 Veterans Way Morgantown, KY 42261

    View on Map
    Sponsored
    For Sale
    Under Contract
    $555,000

    Residential Farm, Ranch - Morgantown, KY

    Type:Farm
    Property size:
    2,532 SF
    Lot size:
    60.72 Acres
    Days on Market:
    26
    Last Refresh:
    Mar 20 at 1:06 am

    Property Features for 668 Veterans Way

    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, Dining Room, Office
    Bedrooms
    3
    Bathrooms
    4
    APN
    mt3-00-00-009.00
    Parking features
    Driveway, Garage, Garage - Attached, Garage - Detached
    Interior features
    Attic Access Only, Attic Storage, Ceiling Fan(s)
    Exterior features
    Barn, Workshop, Mature Trees
    Fireplace
    1
    Appliances
    None
    Size
    2,532 SF
    Lot size
    60.72 Acres

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air
    Water front features
    Pond(s)

    Building Details

    Year built
    1973
    Flooring type
    Carpet, Tile
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Ranch
    Additional Structures
    Barn(s), Workshop

    We can help!

    Listing Contact
    Tony Wells

    Full Potential Properties, LLC (270) 791-4142

    Listing agent Tony Wells (270) 791-4142 License #242799

    Listing date Feb 22, 2026

    MLS# RA20256485 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

    Morgantown Residential Farm and Ranch

    Located in Morgantown, KY, this 60.721-acre property features a home, mostly wooded land, hunting opportunities, and a shared fishing pond. The land includes rolling terrain, mature white oaks, a wildlife pond, established trails, and an interior bedding area suitable for a food plot. The brick home, with over 2500 square feet of living space, has a partially finished basement. It includes three bedrooms, two full baths, two half baths, and an office that could serve as a fourth bedroom. The property is being sold AS-IS as part of an estate sale, with all remaining items in the house included in the sale. The house requires updating but offers significant potential. Additional structures include a 24'x30' two-bay detached garage with concrete floors and electricity, and a barn. The property is located in Butler County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgantown
    County
    Butler
    State
    Kentucky
    Longitude
    -86.7021561
    Latitude
    37.2243508

    Nearby Similar for Sale

    • $989,900
      1,620 SF

      Morgantown Farm with Barndominium

      203-acre farm featuring a 1.5 story barndominium.
      463 Charlie Shepherd Rd, Morgantown, KY 42261
      View Details
    • $164,900
      1,100 SF

      Residential Farm in Morgantown, KY

      Charming home with large backyard, close to town and parkway.
      125 Cherokee Dr, Morgantown, KY 42261
      View Details

    FAQs

    What type of property is this?
    Farm - 60+ acre property with home, woods, hunting, and fishing.
    Where is this farm located?
    The property is located at 668 Veterans Way Morgantown, KY.
    What is the asking price?
    The asking price for this property is $555,000.
    What are key features of this property?
    This property features: - 60.721 acre property ideal for hunting and recreation with mostly wooded land.; - **2500+ sqft brick home features 3 bedrooms, 2 full baths, 2 half baths, and office (potential 4th bedroom).**; - Enjoy a shared fishing pond and a wildlife pond.
    (270) 202-0371
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    668 Veterans Way Morgantown, KY 42261
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    Morgantown, KY 42261
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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
    668 Veterans Way Morgantown, KY 42261
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    We can help!
    Listing Contact
    Tony Wells
    Real Estate License ID: 242799
    (270) 202-0371 (270) 791-4142
    Learn more
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