Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Hazel, KY Corner Lot Title is generated by Realmo AI

    505 5th St, Hazel, KY 42049

    View on Map
    Claim this Listing
    New
    For Sale
    $79,000

    Residential - Hazel, KY

    Lot size:
    2.45 Acres
    Added:
    May 12, 2026
    Days on Market:
    1
    Last Refresh:
    May 12 at 11:06 pm

    Property Features for 505 5th St

    General Information

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

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Neena Salazar

    Listing agent Neena Salazar License #247463

    Listing office HRE Advisors 1541 Olivet Church Road, Mayfield, KY

    Listing date May 12, 2026

    MLS# 135817 Listing URL

    Copyright © 2026 Western Kentucky Regional MLS Inc. 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 corner lot location (approx. 2.45 acres) at a highly visible intersection.
    • Excellent accessibility due to proximity to the new 641 South four‑lane.
    • City water, sewer, and natural gas readily available.
    • Includes a 28’ x 30’ metal garage with two bay doors and a metal roof.
    • Electric and internet services available.
    • Suitable for building site or business opportunity.

    Overview

    This corner lot in Hazel, Kentucky, offers approximately 2.45 acres. It is located at the intersection of 5th Street and EW Miller Road, conveniently situated off the new 641 South four-lane, providing good visibility. The property features a 28’ x 30’ metal garage equipped with two bay doors and a metal roof. City water, sewer, and natural gas are available. Electric service is provided through WKRECC, and internet is available through WK&T. This site is suitable for building or business opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Hair Salon Auto Repair Shop Food Market Storage Facility Grocery & Convenience Store Grocery & Convenience Store Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Hazel
    County
    Calloway
    State
    Kentucky
    Longitude
    -88.32949
    Latitude
    36.506442

    Nearby Similar for Sale

    • $531,000

      Retail/Warehouse Opportunity in Hazel, KY

      7,688 SF retail/warehouse space in Hazel, Kentucky for sale.
      705 Main Street, Hazel, KY 42049
      View Details
    • $372,000

      Retail/Warehouse Opportunity in Hazel, KY

      Versatile commercial space suitable for retail, showroom, or light warehouse.
      705 Main, Hazel, KY 42049
      View Details
    • $38,000

      Hazel, KY Commercial Investment Opportunity

      Commercial building in Hazel's antique district, suitable for various businesses.
      301 Main Street, Hazel, KY 42049
      View Details
    • $125,000

      Hazel, KY Commercial Restaurant Space

      Over 6000 sq ft restaurant space in Hazel, KY.
      314 / 316 Main St, Hazel, KY 42029
      View Details
    • $49,900

      Hazel, KY Homestead Retreat

      Turn-key homestead with vineyard, orchard, well, septic, and RV.
      4254 shoemaker rd, Hazel, KY 42049
      View Details
    • $820,000

      Calloway County Hunting and Income

      182.387 acres with income, timber, and big buck habitat.
      000 Croaker Lane, Hazel, KY 42049
      View Details
    • $895,000

      92+ Acre Farm Ideal Uses

      92+ acre farm perfect for working, retreat, or building.
      00 Atkins Trail, Hazel, KY 42049
      View Details
    • $895,000

      92+ Acre Farm in Hazel, KY

      Versatile 92+ acre farm ideal for various uses.
      00 Atkins Trail, Hazel, KY 42049
      View Details
    • $79,000

      Hazel, KY Corner Lot

      2.45 acre corner lot in Hazel, Kentucky.
      505 5th St, Hazel, KY 42049
      View Details
    • $55,000

      Residential Land in Hazel, KY

      1.92 acre residential land with mature trees and well.
      4214 Byars Road, Hazel, KY 42049
      View Details
    • $464,520

      Calloway County Farmland Opportunity

      47.4 acres of generational farmland near the Kentucky/Tennessee border.
      000 State Line Road East, Hazel, KY 42049
      View Details
    • $464,520

      Calloway County Farmland Opportunity

      Generational farmland near KY/TN line, suitable for agricultural use.
      000 State Line Road East, Hazel, KY 42049
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.45 acre corner lot with utilities in Hazel, KY.
    Where is this commercial land located?
    The property is located at 505 5th St Hazel, KY.
    What is the asking price?
    The asking price for this property is $79,000.
    What are key features of this property?
    This property features: Prime corner lot location (approx. 2.45 acres) at a highly visible intersection.; Excellent accessibility due to proximity to the new 641 South four‑lane.; City water, sewer, and natural gas readily available.
    (270) 293-3461
    We can help!
    Listing Contact
    Neena Salazar
    Real Estate License ID: 247463
    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
    505 5th St, Hazel, KY 42049
    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!