Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Specialty Commercial Property Title is generated by Realmo AI

    312 William Thomason Byway, Leitchfield, KY 42754

    View on Map
    Claim this Listing
    Picture of Specialty properties at 312 William Thomason Byway, Leitchfield, KY
    For Sale
    $899,000

    COMMERCIAL - Leitchfield, KY

    Lot size:
    3.82 Acres
    Added:
    May 9, 2025
    Days on Market:
    393
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 312 William Thomason Byway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.82 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Aaron Pennington

    Listing agent Aaron Pennington License #270681

    Listing office PENNINGTON PROPERTIES 216 S Mulberry Street, Elizabethtown, KY

    Listing date May 9, 2025

    MLS# HK25001801

    Copyright © 2026 Heart of 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

    • 3.82 acre commercial land
    • Located in Leitchfield, Kentucky
    • Commercial land available
    • Location coordinates: [-86.29068,37.47069]

    Overview

    This for-sale specialty commercial property is offered on a 3.82-acre lot at 312 William Thomason Byway in Leitchfield, Kentucky. The listing is categorized under other specialty commercial real estate, providing a land-focused foundation for buyers evaluating non-standard commercial uses.

    The site is located in Grayson County with a Leitchfield address, making it part of the local commercial market serving the surrounding area. Interested parties should review site conditions and any applicable use requirements directly in their due diligence.

    Because the property is presented as a specialty commercial holding with acreage, it may fit buyers who want flexibility for an uncommon or tailored commercial concept, subject to their intended operating plan and permitting considerations. Brokers and investors can use the parcel’s size and specialty designation as starting points for assessing feasibility, site planning, and compatibility with the buyer’s business objectives. Physical improvements, building details, and other operational specifications are not provided in the available information, so on-site verification will be important before finalizing next steps.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Map

    City
    Leitchfield
    County
    Grayson
    State
    Kentucky
    Longitude
    -86.2906833
    Latitude
    37.470691

    Nearby Similar for Sale

    • $650,000

      Industrial Property with Expansion Potential

      1.5-acre industrial property with warehouse, office, and expansion space.
      176 Judge Kenneth H Goff Drive, Leitchfield, KY 42754
      View Details
    • $199,000
      676 SF

      Leitchfield Commercial Building with Parking

      Commercial building in Leitchfield, KY with digital sign and parking.
      203 W White Oak, Leitchfield, KY 42754
      View Details
    • $600,000
      6,000 SF

      Versatile Commercial Property in Leitchfield

      Commercial property on 1 acre lot, ideal for investors.
      202 S Main Street, Leitchfield, KY 42754
      View Details
    • $785,000

      Leitchfield Commercial Storage Facility

      3.7 acre commercial property with storage units in Leitchfield.
      230 Commerce Drive, Leitchfield, KY 42754
      View Details
    • $1,040,000
      1,563 SF

      160 Acres Near Nolin Lake

      160-acre farm/estate property near Nolin Lake in Leitchfield, KY.
      9050, 9018, 0 Anneta Rd, Leitchfield, KY 42754
      View Details
    • $249,900

      Leitchfield Commercial Property with Shop

      Versatile commercial property with 4-bay shop near Leitchfield.
      23 Old Hartford Drive, Leitchfield, KY 42754
      View Details
    • $249,900

      Leitchfield Commercial Property with Shop

      Versatile commercial property suitable for automotive, industrial, or service businesses.
      23 Old Hartford Drive, Leitchfield, KY 42754
      View Details
    • $3,500
      6,000 SF

      Versatile Commercial Property in Leitchfield

      Commercial property on 1 acre lot in Leitchfield, Kentucky.
      202 S Main Street, Leitchfield, KY 42754
      View Details
    • $235,000
      1,716 SF

      Leitchfield Home with Unfinished Basement

      Well-maintained home with unfinished basement and detached two-car garage.
      191 Maple Leaf Lane, Leitchfield, KY 42754
      View Details
    • $35,000

      Three-Bay Garage in Leitchfield, KY

      Three-bay garage in Whispering Oaks Subdivision, sold as-is.
      91 Cardinal Drive, Leitchfield, KY 42754
      View Details

    FAQs

    What type of property is this?
    Specialty property - For sale specialty commercial site on a 3.82-acre lot in Leitchfield, KY’s Grayson County.
    Where is this specialty property located?
    The property is located at 312 William Thomason Byway Leitchfield, KY.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: 3.82 acre commercial land; Located in Leitchfield, Kentucky; Commercial land available
    (270) 872-5469
    We can help!
    Listing Contact
    Aaron Pennington
    Real Estate License ID: 270681
    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
    312 William Thomason Byway, Leitchfield, KY 42754
    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!