Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Glasgow, KY Land For Sale Title is generated by Realmo AI

    Tract 2 Old Mayfield Mill Road, Glasgow, KY 42141-1

    View on Map
    Claim this Listing
    Picture of Commercial land at Tract 2 Old Mayfield Mill Road, Glasgow, KY
    For Sale
    $42,500

    LAND - Glasgow, KY

    Lot size:
    1.01 Acres
    Added:
    Aug 22, 2025
    Days on Market:
    272
    Last Refresh:
    May 20 at 12:06 am

    Property Features for Tract 2 Old Mayfield Mill Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.01 Acres

    We can help!

    Listing Contact
    Billy Carver

    Listing agent Billy Carver License #196406

    Listing office Mills Real Estate & Auction Co., LLC - Glasgow 301 Happy Valley Road, Gamaliel, KY

    Listing date Aug 22, 2025

    MLS# SC47117 Listing URL

    Copyright © 2026 South Central Kentucky Association 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

    • Nice building lots ready for your dream home.
    • City water available, simplifying the building process.
    • Location: -85.85051, 37.013195.

    Overview

    This property consists of a one-acre commercial building lot. City water is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Department Store Garden Center Pet Store & Service Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Glasgow
    County
    Barren
    State
    Kentucky
    Longitude
    -85.8505109
    Latitude
    37.0131944

    Nearby Similar for Sale

    • $389,120

      Automotive Shop on Reynolds Road

      4,854 sq ft commercial property, currently a diesel automotive shop.
      321 Reynolds Road, Glasgow, KY 42141
      View Details
    • $400,000

      Operating Service Station on Green Street

      Established service station with fuel and automotive service business.
      1304 South Green Street, Glasgow, KY 42141
      View Details
    • $599,000
      3,313 SF

      Residential Farm with Custom-Built Estate

      Luxury estate on 9.63 acres with outbuildings and pool.
      62 Oscar Gilpin Road, Glasgow, KY 42141
      View Details
    • $600,000

      Premium Commercial Building with Living

      Commercial building with office, living space, gym, and parking.
      109 E Main Street, Glasgow, KY 42141
      View Details
    • $399,000

      Glasgow, KY Multi-Family Investment

      Turn-key, four-unit multi-family property in Glasgow, Kentucky.
      105 Lakeview Drive, Glasgow, KY 42141
      View Details
    • $469,000
      2,375 SF

      Glasgow Residential Farm with Acreage

      Sprawling 9.27-acre farm property near downtown Glasgow, Kentucky.
      4315 Roseville Road, Glasgow, KY 42141
      View Details
    • $795,000
      6,000 SF

      Versatile Land with Two Buildings

      4-acre property with two buildings, ideal for business use.
      910 Finney Road, Glasgow, KY 42141
      View Details
    • $1.00
      1,044 SF

      Prime Land Auction in Glasgow, KY

      79 acres in 19 tracts, ideal for various uses.
      210 Britt Mill Road, Glasgow, KY 42141
      View Details
    • $315,000
      1,736 SF

      Residential Farm with Creek Views

      Charming 3-bedroom home on 4.78 acres with creek.
      6531 Burkesville Road, Glasgow, KY 42141
      View Details
    • $94,400

      Glasgow, KY Acreage For Sale

      Commercial land for sale near hospital and doctor's offices.
      Tract 6 Physicians Boulevard, Glasgow, KY 42141
      View Details
    • $86,400

      9.6 Acres in Glasgow, KY

      9.6 acres of land in a convenient Glasgow location.
      0 New Salem Road, Glasgow, KY 42141
      View Details
    • $400,000

      Prime Commercial Location in Glasgow

      Two-acre commercial lot in front of Royal Troon subdivision.
      0 Happy Valley Road, Glasgow, KY 42141
      View Details

    FAQs

    What type of property is this?
    Commercial land - One acre commercial building lot with city water available.
    Where is this commercial land located?
    The property is located at Tract 2 Old Mayfield Mill Road Glasgow, KY.
    What is the asking price?
    The asking price for this property is $42,500.
    What are key features of this property?
    This property features: Nice building lots ready for your dream home.; City water available, simplifying the building process.; Location: -85.85051, 37.013195.
    (270) 659-0041
    We can help!
    Listing Contact
    Billy Carver
    Real Estate License ID: 196406
    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 2 Old Mayfield Mill Road, Glasgow, KY 42141-125
    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!