Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    N Heath St, Unit 2 Richmond, KY 40475

    Sponsored
    For Sale
    Pending
    $1,000,000

    LAND - Richmond, KY

    Lot size:
    2.37 Acres
    Days on Market:
    38
    Last Refresh:
    Jan 24 at 1:06 pm

    Property Features for N Heath St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    32118
    Lot size
    2.37 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Alvin Whitaker

    Elite Property Management (859) 245-1165

    Listing agent Alvin Whitaker (859) 408-7922

    Listing date Dec 18, 2025

    MLS# 25500898 Listing URL

    Copyright © 2026 ImagineMLS. 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

    Richmond, KY Flat Lot

    This 2.37-acre flat lot is located within Richmond city limits and has access to all utilities. It is situated half a block off US 25 South, approximately 10 minutes from I-75 and 3 minutes from the EKU By-Pass.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.287028
    Latitude
    37.741356

    Nearby Similar for Sale

    • $4,400,000
      8,849 SF

      Profitable Restaurant Investment Opportunity

      Turnkey restaurant for sale in a high-traffic Richmond location.
      240 Eastern Pass, Richmond, KY 40475
      View Details
    • New
      $289,000
      Pending

      Richmond Commercial Property with Updates

      Updated commercial property featuring spacious rooms and a park-like backyard.
      454 Big Hill Ave, Richmond, KY 40475
      View Details
    • $875,000
      5,100 SF

      Mixed-Use Property with Loft Living

      Income-producing mixed-use property with upscale loft, offices, and apartment.
      105 E St, Richmond, KY 40475
      View Details
    • $315,000
      1,231 SF

      Richmond Flex Space with Workshop

      Unique property with office/workshop near Downtown Richmond.
      314 N 2Nd St, Richmond, KY 40475
      View Details
    • New
      $329,900
      Pending

      Richmond Kentucky Fourplex For Sale

      Well-kept fourplex in Richmond, near EKU, with income potential.
      228 Magnolia Dr, Richmond, KY 40475
      View Details
    • $385,000
      1,784 SF

      Richmond Commercial Opportunity Near Downtown

      Former bar near downtown Richmond with commercial potential and expansion.
      525 E Irvine St, Richmond, KY 40475
      View Details
    • Contact for pricing
      0.64 Acres

      Richmond Commercial Opportunity For Sale

      Former bar near downtown Richmond with commercial potential.
      Richmond, KY 40475
      View Details
    • New
      $185,000
      Pending

      Remodeled Office Building in Richmond

      Remodeled office space in downtown Richmond with high visibility.
      825 E Main St, Richmond, KY 40475
      View Details
    • $280,000
      3,000 SF

      Income-Producing Fourplex in Richmond, KY

      Fourplex in good condition with long-term tenants and recent updates.
      403 Turpin Dr, Richmond, KY 40475
      View Details
    • $450,000
      Pending

      Richmond, KY Multi-Use Investment

      Multi-use property in Richmond, KY with income potential.
      301 Steep St, Richmond, KY 40475
      View Details
    • $299,900
      2,824 SF

      Richmond Duplex with Downtown Location

      Large duplex in downtown Richmond, convenient to amenities and EKU.
      512 W Main St, Richmond, KY 40475
      View Details
    • $875,000
      1,629 SF

      Versatile Commercial Property, Richmond, KY

      Commercial property with office, garage, and development potential in Richmond.
      1603 E Main St, Richmond, KY 40475
      View Details

    FAQs

    What type of property is this?
    Commercial land - Flat lot with utilities access, near US 25 South.
    Where is this commercial land located?
    The property is located at N Heath St, Unit 2 Richmond, KY.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: - Flat lot ready for development.; - Located within Richmond City limits.; - All utilities accessible.
    (859) 200-2901
    Request Owner's contact information
    N Heath St, Unit 2 Richmond, KY 40475
    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.
    N Heath St, Unit 2
    Richmond, KY 40475
    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
    N Heath St, Unit 2 Richmond, KY 40475
    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

    We can help!
    Listing Contact
    Alvin Whitaker
    Real Estate License ID: 200275
    (859) 200-2901
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.