Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Level Commercial Development Lot Title is generated by Realmo AI

    514 E Center, Madisonville, KY 42431

    View on Map
    Claim this Listing
    For Sale
    $59,900

    COMMERCIAL - Madisonville, KY

    Lot size:
    0.34 Acres
    Added:
    Jun 3, 2025
    Days on Market:
    367
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 514 E Center

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    GC
    Standard status
    Active
    Lot size
    0.34 Acres

    We can help!

    Listing Contact
    Melvin Hicklin
    Melvin Hicklin

    Listing agent Melvin Hicklin License #KY-54214

    Listing office HICKLIN REAL ESTATE P.O. Box 446, Madisonville, KY

    Listing date Jun 3, 2025

    MLS# 117007

    Copyright © 2026 Madisonville-Hopkins County Board 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

    • Level commercial lot on high‑traffic East Center Street
    • 70' frontage on East Center Street with depth of 209' (east) and 211' (west)
    • Water and sewer taps on the lot from a removed residence
    • Curb cut in sidewalk provides direct entrance
    • Daily traffic count of 5,304 cars per day (KYDOT, 2020)
    • Old garage on property with new shingles installed in the past year

    Overview

    This is a level commercial development lot with approximately 70 feet of frontage and about 209 feet of depth. The site includes water and sewer taps on the property from a removed residence, and there is a curb cut in the sidewalk providing an entrance. An old garage on-site has had new shingles installed within the past year, which may support interim use or redevelopment planning.

    The lot is positioned on a high-traffic segment of East Center Street, with a reported KYDOT daily traffic count of 5,304 cars per day as of 2020. The property sits next door to Mr. Taco, supporting its context within an established retail and service area.

    Zoned GC, the parcel is suited for a range of commercial uses where vehicle access and visibility matter. With the existing utility taps and an entrance curb cut already in place, the site may reduce early-site work related to basic services and driveway access. The combination of flat grade, direct street frontage, and current site improvements makes it a practical option for buyers evaluating retail or automotive-oriented development in Madisonville.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    Madisonville
    County
    Hopkins
    State
    Kentucky
    Longitude
    -87.508425
    Latitude
    37.329006

    Nearby Similar for Sale

    • $1,000,000
      5,500 SF

      Multi-Building Commercial Portfolio

      Four well-maintained commercial buildings with on-site parking, including three leased units under 5-year agreements.
      538 E Center St., Madisonville, KY 42431
      View Details
    • $575,000
      2,460 SF

      Self Storage Facility for Sale

      For-sale self storage facility on a 0.6-acre site with easy access and an established operating business.
      415 Whittington, Madisonville, KY 42431
      View Details
    • $475,000
      6,268 SF

      Versatile Downtown Flex Building

      Multi-use building with high ceilings and adaptable interior space for office, retail, warehouse, or showroom uses.
      18 Sugg St., Madisonville, KY 42431
      View Details
    • $600,000
      10,192 SF

      Automotive Repair and Storage Property

      Storage buildings include two mechanic shop units with a car lift, offering flexible space for automotive and light industrial use.
      2710 N Main St, Madisonville, KY 42431
      View Details
    • $189,000
      2,550 SF

      Automotive Service Shop with Overhead Doors

      Automotive service facility with multiple maintenance bays, office space, and basement access for efficient repair operations.
      436 E Center Street, Madisonville, KY 42431
      View Details
    • $425,000
      10,470 SF

      Four-Bay Car Wash with Warehouse

      Four-bay car wash plus warehouse and additional rental units on a Madisonville commercial parcel.
      424 E Broadway, Madisonville, KY 42431
      View Details
    • $239,500
      2,163 SF

      Soundproofed Office Building

      A multi-office suite with conference space, reception area, and soundproofing panels for professional use on a main-street corner.
      257 N Main Street, Madisonville, KY 42431
      View Details
    • $109,000
      752 SF

      Updated Office/Commercial Building

      Well-maintained office/commercial building with a versatile layout, modern flooring, and fresh interior finishes.
      730 S Main Street, Madisonville, KY 42431
      View Details
    • $495,000
      6,516 SF

      Diesel Mechanic Shop Ready

      Shop built for semi-truck and heavy equipment repairs, featuring 8-inch concrete floors and available tools and parts.
      115 Tucker Schoolhouse Rd., Madisonville, KY 42431
      View Details
    • $169,900

      Cleared Commercial Land Lot

      Development-ready cleared lot in Madisonville, KY, within city limits and suited for multiple commercial site uses.
      34 Bassett Ave., Madisonville, KY 42431
      View Details
    • $1,700,000
      12,114 SF

      Commercial Land with Leased Buildings

      Land package with six buildings, including leased structures and additional acreage for an operator or investor to evaluate.
      778 E Center, Madisonville, KY 42431
      View Details
    • $100,000

      Level Commercial Development Land

      Level commercial lot zoned C near a mall with convenient access to major roads for flexible development.
      Madison Square, Madisonville, KY 42431
      View Details

    FAQs

    What type of property is this?
    Commercial land - Level commercial lot with utility taps and curb cut for access, offering frontage on a high-traffic corridor.
    Where is this commercial land located?
    The property is located at 514 E Center Madisonville, KY.
    What is the asking price?
    The asking price for this property is $59,900.
    What are key features of this property?
    This property features: Level commercial lot on high‑traffic East Center Street; 70' frontage on East Center Street with depth of 209' (east) and 211' (west); Water and sewer taps on the lot from a removed residence
    (270) 836-1119
    We can help!
    Listing Contact
    Melvin Hicklin
    Melvin Hicklin
    Real Estate License ID: KY-54214
    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
    514 E Center, Madisonville, KY 42431
    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!