Add Listing
    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

    Parks Ridge lot 114 Russell Springs, KY 42642

    View on Map
    For Sale
    Contact for pricing

    LAND - Russell Springs, KY

    Lot size:
    1.43 Acres
    Added:
    Apr 23, 2025
    Days on Market:
    345
    Last Refresh:
    Apr 2 at 2:06 am

    Property Features for Parks Ridge lot 114

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    056-80-01-114.00
    Lot size
    1.43 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Bradley Bigelow

    Listing agent Bradley Bigelow

    Listing office CENTURY 21 Advantage Realty 3765 S Hwy 27, Somerset, KY

    Listing date Apr 23, 2025

    MLS# 25008257 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.

    Overview

    Residential Lot in Gated Community

    This level 1.43-acre lot is located in the Parks Ridge Subdivision, south of Russell Springs, KY. The gated community offers a serene environment with a nearby pond. The lot is equipped with underground utilities, and requires a septic system installation for future construction. Stillwater Subdivision features amenities designed to enhance living experience and protect investment. Restrictions are in place to maintain the community's condition. No mobile homes are allowed. Camping is permitted in professionally manufactured equipment for no more than 7 days out of a 30 day period. Floor plans must be 1400 sq ft minimum in this section. Residents can enjoy a community path leading to the lake and a 2-hole practice golf course. This location is suitable for builders to develop lake homes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Russell Springs
    County
    Russell
    State
    Kentucky
    Longitude
    -84.963721
    Latitude
    37.038504

    Nearby Similar for Sale

    • $359,900
      1,800 SF

      Versatile Commercial Property on Hwy 80

      Commercial property with residential features, high visibility, and business potential.
      286 E Steve Wariner Drive, Russell Springs, KY 42642
      View Details
    • $169,000
      510 SF

      Turnkey Restaurant Opportunity Near Lake Cumberland

      Fully equipped restaurant in high-traffic area near Lake Cumberland.
      178 Lakeway Drive, Russell Springs, KY 42642
      View Details
    • $259,900
      1,300 SF

      Versatile Commercial Property on Highway

      Commercial property ideal for professional, medical, retail, or office uses.
      262 E Steve Wariner Drive, Russell Springs, KY 42642
      View Details
    • $225,000
      1,933 SF

      Farmhouse with Detached Metal Garage

      Spacious farmhouse on 2.37 acres with a metal garage.
      1075 Patterson Rd, Russell Springs, KY 42642
      View Details
    • $28,000

      Land in Russell Springs, KY

      Land for sale in Russell Springs, Kentucky.
      9999 Lots 225,227,228231 Stillwater, Russell Springs, KY 42642
      View Details
    • $69,900

      Unrestricted Land Near Lake Cumberland

      1.49 acres of unrestricted land near Lake Cumberland.
      3136 Parks Ridge Road, Russell Springs, KY 42642
      View Details
    • $711,000
      10,000 SF

      Commercial Building in Russell Springs

      Commercial building for sale in Russell Springs, Kentucky.
      130 WILSON AVE., Russell Springs, KY 42642
      View Details
    • $19,900

      Russell Springs Land Opportunity

      1.6-acre building site near Lake Cumberland with community amenities.
      101 Maple Court, Russell Springs, KY 42642
      View Details
    • $69,900

      Unrestricted Land Near Lake Cumberland

      1.46 acres near Lake Cumberland, ready for your dream build.
      3164 Parks Ridge Road, Russell Springs, KY 42642
      View Details
    • $1.00
      1,933 SF

      150 Acres Farm and Estate

      150 acres of fertile land near Eli exit.
      1075 Patterson Rd, Russell Springs, KY 42642
      View Details
    • $22,000

      Residential Land in Gated Subdivision

      1.5-acre lot in Stillwater Subdivision near Lake Cumberland.
      97 Paradise Alley, Russell Springs, KY 42642
      View Details
    • $12,900

      Stillwater Land Near Lake Cumberland

      1.6 acres in gated community near Russell Springs & Somerset.
      Stillwater lot: 154, Russell Springs, KY 42642
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.4-acre lot in Russell Springs with community amenities.
    Where is this residential land & home lot located?
    The property is located at Parks Ridge lot 114 Russell Springs, KY.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 1.4‑acre level lot in gated Parks Ridge Subdivision; Underground utilities (Cable Available); Access to community path leading to the lake
    (606) 271-1896
    We can help!
    Listing Contact
    Bradley Bigelow
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!