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    Light Industrial Land with Multiple Access Title is generated by Realmo AI

    1210 Nebo Road, Madisonville, KY 42431

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    For Sale
    $495,000

    COMMERCIAL - Madisonville, KY

    Property size:
    1,234 SF
    Lot size:
    6.93 Acres
    Price / SF:
    $401/SF
    Added:
    Dec 17, 2024
    Days on Market:
    534
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for 1210 Nebo Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    1,234 SF
    Lot size
    6.93 Acres

    Building Details

    Year built
    1989

    We can help!

    Listing Contact
    Melvin Hicklin
    Melvin Hicklin

    Listing agent Melvin Hicklin License #KY-54214

    Listing office HICKLIN REAL ESTATE P.O. Box 446, Madisonville, KY

    Listing date Dec 17, 2024

    MLS# 116585

    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

    • 6.93‑acre commercial tract on Nebo Road with multiple access points and high‑traffic frontage
    • Multiple access routes: easement across Cayce Mill store lot, KYDOT permit for Yorkwood Place, and access via Dodson Lane
    • Includes a 1,234 SF building available to rent for $1,000/month (tenant pays all utilities)
    • Building layout: 2 offices, reception area, conference room with kitchenette, and 2 half baths
    • Zoned Light Industrial
    • Garage included in the 1,234 SF building

    Overview

    This offering includes 6.93 acres of commercial land zoned Light Industrial, with multiple access points. The parcel includes access across the front of the Cayce Mill store lot by easement, access to Yorkwood Place by KYDOT permit, and access to Dodson Lane. A 1,234 SF building on the property is available to rent, and it includes two offices, a reception area, two half baths, a conference room with kitchenette, and a garage.

    The land is positioned on Nebo Road, described in the remarks as recently improved and located on a high-traffic road. Access is facilitated through the noted easement and permit arrangements, supporting flexibility in how the site can be reached from surrounding properties and road connections.

    The combination of light industrial zoning and on-site office space can fit a range of small business operators that need both land and functional workspace. The building’s configuration supports client reception and internal meetings, and the rental terms state the tenant pays all utilities. The lot size to be leased is described as negotiable, which may allow tailoring the site footprint to specific tenant requirements.
    Location Intelligence

    Current Use by Public Records

    The Cabinetry of Madisonville Hardware & Home Improvement

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Madisonville
    County
    Hopkins
    State
    Kentucky
    Longitude
    -87.520109
    Latitude
    37.345067

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    FAQs

    What type of property is this?
    Office units - Zoned light industrial acreage with multiple ingress/egress options and a small office building configured for reception and meetings.
    Where is this office units located?
    The property is located at 1210 Nebo Road Madisonville, KY.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: 6.93‑acre commercial tract on Nebo Road with multiple access points and high‑traffic frontage; Multiple access routes: easement across Cayce Mill store lot, KYDOT permit for Yorkwood Place, and access via Dodson Lane; Includes a 1,234 SF building available to rent for $1,000/month (tenant pays all utilities)
    (270) 836-1119
    We can help!
    Listing Contact
    Melvin Hicklin
    Melvin Hicklin
    Real Estate License ID: KY-54214
    Learn More
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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
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