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    Residential Development Lot with Amenities Title is generated by Realmo AI

    5170 Harrodsburg Road lot 8, Nicholasville, KY 40356

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    Claim this Listing
    Pending
    $215,000

    LAND - Nicholasville, KY

    Lot size:
    0.50 Acres
    Added:
    Feb 9, 2026
    Days on Market:
    118
    Last Refresh:
    Jun 7 at 5:06 pm

    Property Features for 5170 Harrodsburg Road lot 8

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    043-00-00-016.00 Lot 8
    Lot size
    0.50 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Jennifer Mooney

    Listing agent Jennifer Mooney License #243082

    Listing office The Brokerage 505 Wellington Way St. 125, Lexington, KY

    Listing date Feb 9, 2026

    MLS# 26012677 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

    • Over 11 acres of planned open space in Cassity Farm, a new luxury community development in Jessamine County
    • Site is less than 1 mile from Lexington city limits, with access via a dedicated entrance featuring a turn lane from Harrodsburg Road
    • Lots designed to support basements, giving flexibility for future living space
    • Utilities include South Elkhorn public water, natural gas, fiber internet, and electricity planned for the community (cable available)
    • Sewer will be provided via a publicly owned aerated treatment system
    • Renovated tobacco barn planned as the community recreation space; pickleball courts are included

    Overview

    This is a for-sale residential homesite in Cassity Farm, a newly developed community concepted around cohesive design and modern convenience. Each lot is designed to support basements, giving future homeowners flexibility in how they plan their living space. The community’s centerpiece is a beautifully renovated tobacco barn that will function as shared recreation space, complemented by pickleball courts for everyday, low-key activity.

    Cassity Farm is situated less than one mile from Lexington city limits, with a dedicated entrance that includes a turn lane from Harrodsburg Road for improved daily access. The development also includes substantial planned open space, supporting a more connected, neighborhood feel. Utility planning is in place, including sewer service via a publicly owned aerated treatment system, South Elkhorn public water, and natural gas, fiber internet, and electricity planned for the community.

    For buyers, this lot offers a practical opportunity to secure a buildable site and bring your own builder on your timeline. Phase I buildable lots are expected to be ready by spring-summer 2027, making now an appropriate time to position for a future move within a community that blends established rural character with planned amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Dental Office Hotel & Motel Gym & Fitness Center (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.600788
    Latitude
    37.969859

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    FAQs

    What type of property is this?
    Residential land & home lot - Choose a basement-ready homesite in a planned luxury community with recreation space, active courts, and utilities planned.
    Where is this residential land & home lot located?
    The property is located at 5170 Harrodsburg Road lot 8 Nicholasville, KY.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: Over 11 acres of planned open space in Cassity Farm, a new luxury community development in Jessamine County; Site is less than 1 mile from Lexington city limits, with access via a dedicated entrance featuring a turn lane from Harrodsburg Road; Lots designed to support basements, giving flexibility for future living space
    (859) 551-1160
    We can help!
    Listing Contact
    Jennifer Mooney
    Real Estate License ID: 243082
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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.

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