Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Bourbon County 1-Acre Homesite Title is generated by Realmo AI

    1 Gillispie Road, Paris, KY 40361

    View on Map
    Claim this Listing
    New
    For Sale
    $39,000

    LAND - Paris, KY

    Lot size:
    1.00 Acre
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 11:06 am

    Property Features for 1 Gillispie Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1
    Standard status
    Active
    APN
    069-00-00-011.00
    Lot size
    1.00 Acre

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Charles Nichols
    Charles Nichols

    Listing agent Charles Nichols License #195655

    Listing office Oak & Acre 206 A Winchester St, Paris, KY

    Listing date May 19, 2026

    MLS# 26011332 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.

    HighLights

    • 1‑acre lot in rural Bourbon County
    • Divided prior to 5‑acre minimum, a unique find
    • Breathtaking views of surrounding farmland
    • Farmland protected by conservation easement
    • Peaceful, secluded setting
    • Water Available

    Overview

    This is a rare opportunity to own a 1-acre lot in rural Bourbon County. The property was divided prior to the current 5-acre minimum, making it a unique find for buyers seeking a smaller, manageable homesite. The location offers views in every direction, with surrounding farmland protected by a conservation easement, ensuring lasting open space. This property offers a balance of privacy and convenience for building a dream home in a secluded setting while still being within reach of town.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Paris
    County
    Bourbon
    State
    Kentucky
    Longitude
    -84.2316
    Latitude
    38.2067

    Nearby Similar for Sale

    • $3,100,000
      12,000 SF

      Historic Paris Golf Course Opportunity

      47-acre former golf course with development potential in Paris, KY.
      38 E Main Street, Paris, KY 40361
      View Details
    • $60,000
      1,778 SF

      Country Church in Paris, KY

      Unique church property available for sale in Paris, Kentucky.
      3052 Cane Ridge Road, Paris, KY 40361
      View Details
    • $1,650,000
      10,362 SF

      Historic Income Property in Paris

      Historic mixed-use property with multiple income streams in downtown Paris.
      339 Main Street, Paris, KY 40361
      View Details
    • $225,000
      2,268 SF

      Paris, KY Duplex Investment

      Duplex in Paris, KY, with updates and rental income.
      3088 Cane Ridge Road, Paris, KY 40361
      View Details
    • $450,000
      3,780 SF

      Paris, KY Multifamily Property

      Multifamily property for sale in Paris, Kentucky.
      117-123 Bradford Drive, Paris, KY 40361
      View Details
    • $450,000
      4,704 SF

      Paris, KY Multifamily Property

      Multifamily property in Paris, Kentucky, totaling 4,704 square feet.
      125-131 Bradford Drive, Paris, KY 40361
      View Details
    • $422,500

      Paris Pike Land Opportunity

      12.135 acres of land near Lexington and Paris, Kentucky.
      5420 Lexington Road, Paris, KY 40361
      View Details
    • $750,000
      3,066 SF

      Paris, KY Mixed-Use Property

      Highly visible mixed-use property with retail and apartment spaces.
      5761 Lexington Road, Paris, KY 40361
      View Details
    • $850,000

      Paris, KY Land For Sale

      20.73 acres near Georgetown and Lexington with equine potential.
      750 Elizabeth Station Road, Paris, KY 40361
      View Details
    • $555,000

      Paris, KY Land Opportunity

      5-acre land near Lexington and Paris, Kentucky.
      582 Hutchison Road, Paris, KY 40361
      View Details
    • $69,900

      Residential Lot in Golf Community

      0.46-acre lot in Houston Oaks Golf Course community.
      303 Ironwood Circle, Paris, KY 40361
      View Details
    • $149,900

      Paris, KY Buildable Land

      2.5 acre lot in Bourbon County, ideal for custom home.
      Brentsville Road lot: 14, Paris, KY 40361
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Rare 1-acre lot in rural Bourbon County with scenic views.
    Where is this residential land & home lot located?
    The property is located at 1 Gillispie Road Paris, KY.
    What is the asking price?
    The asking price for this property is $39,000.
    What are key features of this property?
    This property features: 1‑acre lot in rural Bourbon County; Divided prior to 5‑acre minimum, a unique find; Breathtaking views of surrounding farmland
    (859) 707-7988
    We can help!
    Listing Contact
    Charles Nichols
    Charles Nichols
    Real Estate License ID: 195655
    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
    1 Gillispie Road, Paris, KY 40361
    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!