Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Development Opportunity in Downtown Beaver Dam Title is generated by Realmo AI

    221 S Main St, Beaver Dam, KY 42320

    View on Map
    Claim this Listing
    For Sale
    $99,999

    LAND - Beaver Dam, KY

    Property size:
    27,422 SF
    Lot size:
    0.84 Acres
    Price / SF:
    $3/SF
    Added:
    Apr 8, 2026
    Days on Market:
    53
    Last Refresh:
    May 30 at 9:06 pm

    Property Features for 221 S Main St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Size
    27,422 SF
    Lot size
    0.84 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Erika Wiggins Crowell

    Listing agent Erika Wiggins Crowell License #274448

    Listing office Red Letter Realty Group 922 Triplett Street Suite 7, Owensboro, KY

    Listing date Apr 8, 2026

    MLS# 94535 Listing URL

    Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime development opportunity in downtown Beaver Dam adjacent to the Beaver Dam Amphitheater.
    • High traffic location with 22,320 Average Daily Traffic.
    • Easy access to Highway 231.
    • Proximity to Western Kentucky Parkway and I‑65 corridor (3.5 miles).
    • Building pad designed for a single‑story commercial building of approximately 27,422 square feet.
    • .84 acre lot with available utilities.

    Overview

    This 0.84-acre development opportunity is located at 221 S Main Street in downtown Beaver Dam, KY. The site is designed to accommodate a single-story commercial building of approximately 27,422 square feet, with alternate designs showing potential for 21,500 sq ft plus 5,922 sq ft of drive-thru usage. The location benefits from its proximity to the Beaver Dam Amphitheater, which has attracted over 500,000 people to downtown Beaver Dam since 2014. This property offers a prime opportunity for investors within an established entertainment and business park. The site has access to Highway 231 and is 3.5 miles from the Western Kentucky Parkway and I-65 corridor. The most current Average Daily Traffic report indicates 22,320 vehicles.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Beaver Dam
    County
    Ohio
    State
    Kentucky
    Longitude
    -86.8760099
    Latitude
    37.4004247

    Nearby Similar for Sale

    • $354,750

      Versatile Land Tract in Beaver Dam

      12.9-acre tract ideal for residential development in Beaver Dam, KY.
      US Highway 231 S, Beaver Dam, KY 42340
      View Details
    • $239,000
      4,200 SF

      Historic Mixed-Use Building in Kentucky

      Historic downtown building with restaurant and apartment potential.
      107 N Main St, Beaver Dam, KY 42320
      View Details
    • $239,000
      4,200 SF

      Historic Mixed-Use Building in Kentucky

      Mixed-use building with restaurant and apartment potential in Beaver Dam.
      107 N Main Street Road, Beaver Dam, KY 42320
      View Details
    • $242,000

      Secluded Wooded Acreage in Ohio County

      72+/- acres of timbered land near Beaver Dam, Kentucky.
      Pigeon Ridge Ln, Beaver Dam, KY 42340
      View Details
    • $385,000

      110+ Acres Vacant Land

      110+ acres of vacant land in Beaver Dam, Kentucky.
      0 Mt Zion Rd, Beaver Dam, KY 42320
      View Details
    • $99,999

      Downtown Beaver Dam Development Opportunity

      0.84 acre development opportunity in downtown Beaver Dam, Kentucky.
      221 S Main St, Beaver Dam, KY, 42320-2131
      View Details
    • $19,900

      Vacant Lot in Beaver Dam

      0.39-acre vacant lot in the heart of Beaver Dam.
      426 N lafayette st, Beaver Dam, KY 42320
      View Details
    • $45,000

      Cleared Land with Pond

      Mostly cleared 4.31 acre building site with pond.
      Tract 2 Vine Hill Road, Beaver Dam, KY 42320
      View Details
    • $45,000

      Residential Lot in Beaver Dam

      1.512 acre residential lot ready for building.
      87 Hope St, Beaver Dam, KY 42320
      View Details
    • $92,500

      Land with Green River Access

      19.28 acre land with deeded Green River access.
      Parcel 153-3-4 Old Cabin Ln, Beaver Dam, KY 42320
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.84 acre development opportunity near Beaver Dam Amphitheater.
    Where is this commercial land located?
    The property is located at 221 S Main St Beaver Dam, KY.
    What is the asking price?
    The asking price for this property is $99,999.
    What are key features of this property?
    This property features: Prime development opportunity in downtown Beaver Dam adjacent to the Beaver Dam Amphitheater.; High traffic location with 22,320 Average Daily Traffic.; Easy access to Highway 231.
    (270) 684-2727
    We can help!
    Listing Contact
    Erika Wiggins Crowell
    Real Estate License ID: 274448
    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
    221 S Main St, Beaver Dam, KY 42320
    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!