Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Lot S Main St M-23-16-1 Madisonville, KY 42431

    View on Map
    Claim this Listing
    For Sale
    $425,000

    Acreage - Madisonville, KY

    Lot size:
    5.20 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    66
    Last Refresh:
    May 8 at 2:06 am

    Property Features for Lot S Main St M-23-16-1

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Paved Road
    Standard status
    Active
    Lot size
    5.20 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brien Terry

    Listing agent Brien Terry

    Listing office Coldwell Banker Complete Realty 1096 N. MAIN, MADISONVILLE, KY

    Listing date Mar 3, 2026

    MLS# 116747 Listing URL

    Copyright © 2026 Madisonville-Hopkins County Board 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.

    HighLights

    • Vacant land on a busy intersection
    • Access to both South Main Street and McLeod Lane
    • Excellent business opportunity
    • Owner is open to build to lease contract
    • Paved road
    • Hard to find

    Overview

    Vacant Land on Busy Intersection

    This 5.2-acre property is an excellent business opportunity, featuring hard-to-find vacant land located on a busy intersection in Madisonville, Kentucky. The property has access to both South Main Street and McLeod Lane. The owner is open to a build-to-lease contract. It is located in Hopkins County, Kentucky, with the postal code 42431.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Madisonville
    County
    Hopkins
    State
    Kentucky
    Longitude
    -87.498555
    Latitude
    37.328694

    Nearby Similar for Sale

    • $1,000,000
      5,500 SF

      Madisonville Commercial Buildings Investment Opportunity

      Four commercial buildings with established leases in high-traffic location.
      538 E Center St., Madisonville, KY 42431
      View Details
    • $495,000
      6,516 SF

      Diesel Mechanic Shop Opportunity

      Ready-to-restart diesel mechanic shop in high-traffic Madisonville location.
      115 Tucker Schoolhouse Rd., Madisonville, KY 42431
      View Details
    • $475,000
      6,268 SF

      Downtown Madisonville Versatile Commercial Building

      Versatile 6,265 SF commercial building in downtown Madisonville, KY.
      18 Sugg St., Madisonville, KY 42431
      View Details
    • $565,000

      Commercial Land on North Main

      2.18 acre commercial land with highway frontage.
      N Main Street, Madisonville, KY 42431
      View Details
    • $425,000
      10,470 SF

      Madisonville Commercial Property For Sale

      High-traffic commercial property with rental income potential in Madisonville, KY.
      424 E Broadway, Madisonville, KY 42431
      View Details
    • $499,900
      3,193 SF

      Madisonville Duplex in Ridgewood Heights

      High-end duplex built in 2014 with modern finishes.
      108 /110 Pin Oak Ln, Madisonville, KY 42431
      View Details
    • $579,000
      21,800 SF

      Madisonville Commercial Opportunity on Two Acres

      Two-acre property ideal for residential or professional use.
      123 Waddill, Madisonville, KY 42431
      View Details
    • $1,700,000
      12,114 SF

      Madisonville Retail Investment Opportunity

      Income-generating retail package with development potential in Madisonville, KY.
      778 E Center, Madisonville, KY 42431
      View Details
    • $239,500
      2,163 SF

      Madisonville Commercial Property on Main

      High-traffic commercial property with office and retail potential.
      257 N Main Street, Madisonville, KY 42431
      View Details
    • $100,000

      Prime Commercial Lot Near Mall

      High-traffic commercial lot ideal for retail or office development.
      00000 Madison Square, Madisonville, KY 42431
      View Details
    • $600,000
      10,192 SF

      Versatile Commercial Property on 3 Acres

      Commercial property with shop, storage, and cabin on 3 acres.
      2710 N Main St, Madisonville, KY 42431
      View Details
    • $189,000
      2,550 SF

      Madisonville Commercial Property with Shop

      Commercial property featuring shop area, maintenance bays, and office space.
      436 E Center Street, Madisonville, KY 42431
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.2 acres of vacant land with high traffic access.
    Where is this commercial land located?
    The property is located at Lot S Main St M-23-16-1 Madisonville, KY.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Vacant land on a busy intersection; Access to both South Main Street and McLeod Lane; Excellent business opportunity
    (270) 821-3131
    We can help!
    Listing Contact
    Brien Terry
    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
    Lot S Main St M-23-16-1, Madisonville, KY 42431
    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!