Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Gorgeous Land Minutes From Columbia Title is generated by Realmo AI

    508-2 Clear Springs Road, Columbia, KY 42728

    View on Map
    Claim this Listing
    Pending
    $149,000

    LAND - Columbia, KY

    Lot size:
    18.61 Acres
    Added:
    May 24, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 4 at 12:06 pm

    Property Features for 508-2 Clear Springs Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    18.61 Acres

    We can help!

    Listing Contact
    Ken Hill

    Listing agent Ken Hill License #204112

    Listing office Patriot Realty - Auction LLC 933 Russell Road Suite 105, Columbia, KY

    Listing date May 24, 2026

    MLS# SC48188 Listing URL

    Copyright © 2026 South Central 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

    • 18.6 acres of land (by recent survey) in Central Kentucky
    • Great location, just minutes from Columbia
    • Perfect building sites available
    • Potential for subdivision with open and wooded lots
    • Minor restrictions to protect adjoining property (no single wide mobile homes, no junkyards)
    • Option to purchase an additional 5.66 acres with a 3200 square foot home that adjoins the property

    Overview

    This 18.6-acre property, determined by a recent survey, is located minutes from Columbia, Kentucky, and offers potential building sites. Minor restrictions will be added to protect adjoining property; these restrictions include no single wide mobile homes and no junkyards. The land could be suitable for a subdivision with both open and wooded lots. Alternatively, it could be used for a premium dream home. An additional 5.66 acres with a 3200 square foot home adjoins this property and is also available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Auto Repair Shop Electronics & Wireless Store Arcade & Gaming Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Adair
    State
    Kentucky
    Longitude
    -85.219273
    Latitude
    37.086637

    Nearby Similar for Sale

    • $175,000
      1,872 SF

      Commercial Building in Columbia, KY

      Versatile 1,872 sq. ft. commercial building on 0.10 acres.
      306 Merchant Street, Columbia, KY 42728
      View Details
    • $160,000
      1,440 SF

      Versatile Acreage with Shop Space

      3.16-acre property with potential for live-work space or business.
      210 Grider Road, Columbia, KY 42728
      View Details
    • $549,000

      Versatile Commercial Property in Columbia, KY

      1.87 acres with historic building and warehouse space.
      210 Merchant Street, Columbia, KY 42728
      View Details
    • $99,900

      Secluded Land Near Columbia, KY

      5.8 acres of secluded land near Columbia, Kentucky.
      Nixon Road, Columbia, KY 42728
      View Details
    • $79,000

      Unrestricted Land with Utilities Ready

      6 acres with utilities and potential lake in Kentucky.
      6801 Fairplay Road, Columbia, KY 42728
      View Details
    • $145,000

      Recreation Land with Cabin Site

      Mostly wooded 10-acre tract with a cabin site and planned utilities for year-round or weekend outdoor use.
      2501 Chestnut Grove Road, Columbia, KY 42728
      View Details
    • $25,000

      Residential Lot with Utilities

      Residential lot with water, septic, and power connections.
      2655 Bird Road, Columbia, KY 42828
      View Details
    • $125,000

      Versatile Acreage Near Columbia, KY

      0.53 acres with a 1472 sq ft building near town.
      188 Grider Road, Columbia, KY 42728
      View Details
    • $25,000

      Residential Lot with Utilities

      Lot with water, septic, and power connections in Columbia.
      2655-2 Bird Road, Columbia, KY 42828
      View Details
    • $254,000

      Secluded Land with Fishing Ponds

      39.43 acres featuring ponds, trails, and timber.
      3900 Sparksville Road, Columbia, KY 42728
      View Details
    • $399,900

      Kentucky Land with Running Streams

      50-acre farm near Columbia, KY with streams and barn.
      S Hwy 55 Rd, Columbia, KY 42728
      View Details
    • $375,000

      65.9 Acres of Recreational Land

      Private 65.9-acre recreational land with creek, barn, and abundant wildlife.
      3718 Barnetts Creek Rd, Columbia, KY 42728
      View Details

    FAQs

    What type of property is this?
    Land - 18.6 acres of land with great location and building sites.
    Where is this land located?
    The property is located at 508-2 Clear Springs Road Columbia, KY.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: 18.6 acres of land (by recent survey) in Central Kentucky; Great location, just minutes from Columbia; **Perfect building sites available**
    (270) 378-1108
    We can help!
    Listing Contact
    Ken Hill
    Real Estate License ID: 204112
    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
    508-2 Clear Springs Road, Columbia, KY 42728
    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!