Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot in Manchester, KY Title is generated by Realmo AI

    Hwy 421 Richmond Road, Manchester, KY 40962

    View on Map
    Claim this Listing
    For Sale
    $317,000

    LAND - Manchester, KY

    Lot size:
    1.09 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    46
    Last Refresh:
    May 15 at 3:06 am

    Property Features for Hwy 421 Richmond Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    082-42-01-003.00
    Lot size
    1.09 Acres

    We can help!

    Listing Contact
    B Scott Griffie

    Listing agent B Scott Griffie License #222329

    Listing office WEICHERT REALTORS - Ford Brothers 64 Keavy Rd, Suite #1, Somerset, KY

    Listing date Mar 31, 2026

    MLS# 26006622 Listing URL

    Copyright © 2026 ImagineMLS. 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 1‑acre commercial lot in Manchester, KY.
    • High visibility location.
    • Easy access to major roads.
    • Ideal for retail, office space, or other commercial development.
    • Central location in the heart of Manchester.
    • Steady flow of local traffic and close proximity to established businesses.

    Overview

    This 1.09-acre commercial lot is located in Manchester, Kentucky. Situated in a high-visibility area with easy access to major roads, the property is suitable for retail, office space, or other commercial development. The central location in Manchester benefits from a steady flow of local traffic and close proximity to established businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Clay County Mobile ... Garden Center Speedway Gas Station LibertyX Bitcoin ATM Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Clay
    State
    Kentucky
    Longitude
    -83.765242
    Latitude
    37.15688

    Nearby Similar for Sale

    • $35,000
      4,800 SF

      Manchester, KY Land with Barn

      1.07 acre surveyed lot with barn near Hal Rogers Parkway.
      Chicken Branch Road, Manchester, KY 40962
      View Details
    • $150,000

      Secluded Land with Mountain Views

      Private 30-acre retreat with gas well, pond, and stream.
      99 Cold Fork Road, Manchester, KY 40962
      View Details
    • $240,000

      Off-Grid Homestead with Multiple Cabins

      Self-sufficient 40-acre homestead with cabins, solar power, and water.
      1199 Rawlings Road, Manchester, KY 40962
      View Details
    • $79,900
      1,200 SF

      Versatile Commercial Building Near Parkway

      Adaptable commercial building suitable for retail, office, or residential use.
      530 Muddy Gap Road, Manchester, KY 40962
      View Details
    • $49,000
      480 SF

      Off-Grid Cabin on Private Land

      Cozy, secluded cabin on 1 acre near town amenities.
      799 Coal Hollow Road, Manchester, KY 40962
      View Details
    • $225,000

      Secluded Hunting Land with Home

      Off-grid property with abundant wildlife and timber rights.
      195 Darby Branch Road, Manchester, KY 40962
      View Details
    • $100,000

      Two Lots on North KY-11

      Two leveled lots ready to build on North KY-11.
      N KY-11, Manchester, KY 40962
      View Details
    • $240,000

      Unrestricted Land in Southeast Kentucky

      113 acres of unrestricted land with mountain views.
      198 Crawford Isom Road, Manchester, KY 40962
      View Details
    • $51,200

      Unrestricted 32-Acre Outdoor Retreat

      32 acres of unrestricted land ideal for outdoor activities.
      9999 S KY-11, Manchester, KY 40962
      View Details
    • $349,900

      100 Acres of Potential

      100 acres in a country setting with endless potential.
      111 Baker Creek Road, Manchester, KY 40962
      View Details
    • $105,000

      30 Acres of Wooded Land

      Hilly, wooded 30-acre tract with development potential near Manchester, KY.
      9999 Gray Fork Rd, Manchester, KY 40962
      View Details
    • $139,500

      Scenic Land Bordering National Forest

      106 acres bordering Daniel Boone National Forest in Manchester, KY.
      Darby Branch Road, Manchester, KY 40962
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1-acre commercial lot in high-visibility Manchester location.
    Where is this commercial land located?
    The property is located at Hwy 421 Richmond Road Manchester, KY.
    What is the asking price?
    The asking price for this property is $317,000.
    What are key features of this property?
    This property features: Prime 1‑acre commercial lot in Manchester, KY.; High visibility location.; Easy access to major roads.
    (606) 312-7281
    We can help!
    Listing Contact
    B Scott Griffie
    Real Estate License ID: 222329
    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
    Hwy 421 Richmond Road, Manchester, KY 40962
    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!