Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2.5 Acre Building Tract Title is generated by Realmo AI

    Tract 1 Griderville Road, Cave City, KY 42127

    View on Map
    Claim this Listing
    For Sale
    $59,000

    2.5 acre commercial land for sale near I-65.

    Type:Lots/Land
    Lot size:
    2.50 Acres
    Added:
    Feb 22, 2025
    Days on Market:
    466
    Last Refresh:
    Apr 16 at 3:03 am

    Property Features for Tract 1 Griderville Road

    General Information

    Standard status
    Active
    Lot size
    2.50 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Mayes Thompson

    Listing agent Mayes Thompson License #260792

    Listing office Mayes Thompson Realty & Auction

    Listing date Feb 22, 2025

    Source Exitrealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of Mayes Thompson Realty & Auction

    HighLights

    • 2.5 acre building tract
    • Minutes from I65
    • Blacktop hwy frontage
    • Utilities available
    • Owner financing possible for qualified buyers
    • Northern Barren County location

    Overview

    This 2.5-acre building tract is located in Northern Barren County, Kentucky. The property is situated just minutes from I-65 and features blacktop highway frontage. Utilities are available. Owner financing is possible for qualified buyers.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Cave City
    County
    Barren
    State
    Kentucky
    Longitude
    -85.876725
    Latitude
    37.113665

    Nearby Similar for Sale

    • $390,000

      Cave City Multifamily Investment Property

      Ten-unit apartment/motel with income potential on N Dixie Hwy.
      313 N Dixie Highway, Cave City, KY 42127
      View Details
    • $550,000

      Renovated Retail and Hospitality Building

      Historic building with retail space and hospitality units in Cave City.
      104-108 N 1st Street, Cave City, KY 42127
      View Details
    • $150,000

      Remodeled Warehouse Style Building

      Remodeled commercial building suitable for various business models.
      406 S Dixie Highway, Cave City, KY 42127
      View Details
    • $350,000

      Cave City Mixed-Use Building

      Mixed-use building in growing Cave City with multiple opportunities.
      105 Broadway Street, Cave City, KY 42127
      View Details
    • $2,400,000

      Prime Commercial Property in Cave City

      Versatile commercial property suitable for office, retail, or warehouse use.
      302 Happy Valley Street, Cave City, KY 42127
      View Details
    • $250,000

      High-Visibility Commercial Land Site

      A 0.68-acre, utility-ready site with residential zoning that may require planning approval for commercial development.
      E Les Turner Road, Cave City, KY 42127
      View Details
    • $299,500

      Historic Reynolds House in Cave City

      Renovated commercial property in historic Cave City, Kentucky.
      205 Broadway Street, Cave City, KY 42127
      View Details
    • $389,500

      Cave City Motel Business Opportunity

      25-room motel near Cave City tourist attractions for sale.
      1224 N Dixie Highway, Cave City, KY 42127
      View Details
    • $595,000
      8,527 SF

      Mixed-Use Building in Cave City

      Turnkey, income-producing investment property in historic downtown Cave City.
      206-210 Broadway Street, Cave City, KY 42127-8802
      View Details
    • $208,000
      1,256 SF

      Residential Farm in Cave City

      Charming 3-bedroom, 2-bathroom home with fenced backyard.
      5918 Stovall Road, Cave City, KY 42127
      View Details
    • $104,900

      Cave City Commercial Opportunity

      Versatile commercial property in downtown Cave City, Kentucky.
      304 North Dixie Hwy, Cave City, KY 42127
      View Details
    • $1,800,000

      New RV Park Near I-65

      Newly constructed RV park with 48 sites on 6.5 acres.
      610 Mammoth Cave Street, Cave City, KY 42127
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.5 acre commercial land for sale near I-65.
    Where is this commercial land located?
    The property is located at Tract 1 Griderville Road Cave City, KY.
    What is the asking price?
    The asking price for this property is $59,000.
    What are key features of this property?
    This property features: 2.5 acre building tract; Minutes from I65; Blacktop hwy frontage
    (270) 537-4311
    We can help!
    Listing Contact
    Mayes Thompson
    Real Estate License ID: 260792
    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
    Tract 1 Griderville Road, Cave City, KY 42127
    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!