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    Usable Land with Metal Garage Title is generated by Realmo AI

    4654 N STEPSTONE RD, Owingsville, KY 40360

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    For Sale
    $69,000

    LAND - Owingsville, KY

    Lot size:
    2.51 Acres
    Added:
    Nov 13, 2025
    Days on Market:
    184
    Last Refresh:
    May 16 at 7:06 pm

    Property Features for 4654 N STEPSTONE RD

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    026-00-00-018.11
    Lot size
    2.51 Acres

    We can help!

    Listing Contact
    Charles Dean Stamper

    Listing agent Charles Dean Stamper

    Listing office Stamper Real Estate Group 420 E Main Street STE 4C Charles Stamper, MBA, CPA, Mt Sterling, KY

    Listing date Nov 13, 2025

    MLS# 25506074 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

    • 2.51 acres of usable land with rolling views in a private, peaceful country setting.
    • Spacious 24x36 metal garage/workshop with dual roll‑up doors, concrete flooring, and 200‑amp electric service. Ideal for storage, mechanical work, home‑based business, or hobby shop.
    • Flexible zoning allows for single‑wide manufactured homes, campers/RVs, and traditional stick‑built homes.
    • Multiple potential building sites on gently sloped land with scattered trees.
    • Convenient location with easy access to N Stepstone Road and minutes from Owingsville, Mt. Sterling, and I‑64.

    Overview

    This 2.51-acre property features a country setting with rolling views and usable land. It includes a 24x36 metal garage/workshop, open yard space, and multiple potential building sites. The land is gently sloped with scattered trees and long-range views of the surrounding hills, creating a private and peaceful atmosphere. Zoning/usage allows for single-wide manufactured homes, campers/RVs, and traditional stick-built homes, providing flexibility for future plans. The 24x36 metal building features dual roll-up doors, full concrete flooring, 200-amp electric service, bright overhead lighting, and generous workspace. The interior includes shelving and ample room for equipment, vehicles, trailers, or shop use. It is ideal for storage, mechanical work, small-engine repair, lawncare equipment, or a home-based business. The property offers a location for a new home and an opportunity for anyone needing shop space, acreage, and a quiet rural setting with room to grow. It has easy access from N Stepstone Road and is just minutes from Owingsville, Mt. Sterling, and I-64, Kentucky.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Owingsville
    County
    Bath
    State
    Kentucky
    Longitude
    -83.829412
    Latitude
    38.089656

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    FAQs

    What type of property is this?
    Land - 2.51 acres with garage/workshop near Owingsville, Kentucky.
    Where is this land located?
    The property is located at 4654 N STEPSTONE RD Owingsville, KY.
    What is the asking price?
    The asking price for this property is $69,000.
    What are key features of this property?
    This property features: 2.51 acres of usable land with rolling views in a private, peaceful country setting.; Spacious 24x36 metal garage/workshop with dual roll‑up doors, concrete flooring, and 200‑amp electric service. Ideal for storage, mechanical work, home‑based business, or hobby shop.; Flexible zoning allows for single‑wide manufactured homes, campers/RVs, and traditional stick‑built homes.
    (859) 585-7653
    We can help!
    Listing Contact
    Charles Dean Stamper
    Learn More
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    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
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