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    2900 State Route 10 Greenup, KY 41144

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    For Sale
    $749,000

    6,000 SF industrial building on 40 acres near AA Highway.

    Lot size:
    40.00 Acres

    Property Features for 2900 State Route 10

    General Information

    Standard status
    Active
    Lot size
    40.00 Acres

    We can help!

    Listing Contact
    Alison Christie
    Source: Exprealty

    Listing Agency: Ross Real Estate Services Listing Agent: Alison Christie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    New Industrial Building on 40 Acres

    This newly constructed 6,000-square-foot commercial/industrial building is situated on a 40-acre parcel. The building measures 60 by 100 feet and features 20-foot sidewalls, providing generous vertical clearance suitable for manufacturing, warehousing, or other industrial uses. Three 12-by-14-foot overhead doors, each equipped with automatic openers, facilitate easy access for large vehicles and equipment. Additionally, a 60-by-20-foot loft area offers extra storage space. The facility is heated by four propane heaters, each with individual controls, powered by a 1,000-gallon propane tank. Electrical needs are met by a 400-amp service provided by Grayson Rural Electric, with additional power capacity available nearby to accommodate future expansions or the construction of secondary structures. Inside, the building includes three spacious offices and a bathroom. Water is currently supplied by a pond-fed pump system, with the pond reaching a depth of 14 feet at the dam. Water lines have been extended to the AA Highway, anticipating the availability of public water services in the future. The expansive 40-acre tract offers ample space for outdoor storage or additional construction. Strategically located on the AA Highway just a few minutes from US 23 with close proximity to rail, river access and major highways.
    Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Greenup
    County
    Greenup
    State
    Kentucky
    Longitude
    -82.922575
    Latitude
    38.622004

    Nearby Similar for Sale

    • $4,700,000
      73,100 SF

      Retail Space in Greenup, KY

      Well-maintained shopping center with stable tenants and high visibility.
      1629 Ashland Rd, Greenup, KY 41144
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 6,000 SF industrial building on 40 acres near AA Highway.
    Where is this manufacturing property located?
    The property is located at 2900 State Route 10 Greenup, KY.
    What is the asking price?
    The asking price for this property is $749,000.
    What are key features of this property?
    This property features: - Newly constructed 6,000 sq ft commercial/industrial building on 40 acres.; - Strategic location on AA Highway, close to US 23, rail, river access, and major highways.; - Three 12-by-14-foot overhead doors with automatic openers.
    (606) 831-7030
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    2900 State Route 10 Greenup, KY 41144
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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
    2900 State Route 10 Greenup, KY 41144
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    We can help!
    Listing Contact
    Alison Christie
    (606) 831-7030
    Learn more
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