Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Estate Home Lot with Build-to-Suit Title is generated by Realmo AI

    5447 Tates Creek Road lot 28, Nicholasville, KY 40356

    View on Map
    Claim this Listing
    New
    For Sale
    $365,000

    LAND - Nicholasville, KY

    Lot size:
    0.62 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 5447 Tates Creek Road lot 28

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1
    Standard status
    Active
    APN
    Lot 28
    Lot size
    0.62 Acres

    We can help!

    Listing Contact
    Ashley Teater

    Listing agent Ashley Teater

    Listing office Bluegrass Sotheby's International Realty 1999 Richmond Road Ste 400, Lexington, KY

    Listing date Jun 1, 2026

    MLS# 26012713 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

    • Lot 28 in The Sanctuary, a new construction community in Lexington
    • Development plans include luxury townhomes, garden homes, and spacious estate lots
    • Build‑to‑suit opportunities available
    • The Sanctuary Gardens will include walking paths, green space, water features, and gathering areas
    • Convenient to Rupp Arena (8 miles), Brannon Crossing (3 miles), and The Summit at Fritz Farm (4.5 miles)

    Overview

    Lot 28 is an estate home lot within The Sanctuary, a new construction residential community designed around luxury, convenience, and natural surroundings. The development features a mix of luxury townhomes, garden homes, and spacious estate lots, with build-to-suit opportunities available for buyers seeking a tailored home plan. At the center of the community is The Sanctuary Gardens, offering walking paths, lush green space, water features, and peaceful gathering areas intended for relaxation and connection.

    The property is in Nicholasville, Kentucky, in Jessamine County. The Sanctuary is positioned for quick access to major destinations, including approximately 8 miles to Rupp Arena, 3 miles to Brannon Crossing, and 4.5 miles to The Summit at Fritz Farm, supporting a convenient lifestyle for future residents.

    This lot is well-suited for buyers who want the flexibility of build-to-suit construction in an established, amenity-focused community. It also appeals to investors and developers looking for residential infill options where the project is already planned as a curated mix of home types and shared outdoor spaces. Zoning is listed as R-1.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel HVAC Service Garden Center Electrical Service Grocery & Convenience Store Car Rental Facility (Bike/Boat/Book/etc) Store Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.477755
    Latitude
    37.935778

    Nearby Similar for Sale

    • $2,399,000
      8,576 SF

      Nicholasville Commercial Property For Sale

      High-visibility commercial property with multiple income streams in Nicholasville, KY.
      1001-1007 Elizabeth Street, Nicholasville, KY 40356
      View Details
    • $1,370,000
      10,688 SF

      8-Unit Townhome Rental Property

      Eight two-bedroom townhomes with one-car garages and recent exterior upgrades, with tenants responsible for utilities.
      166-180 Heritage Drive, Nicholasville, KY 40356
      View Details
    • $1,700,000
      2,700 SF

      Nicholasville Commercial Site For Sale

      Sunoco station and convenience store on 1.8 acres.
      3340 All Star Way, Nicholasville, KY 40356
      View Details
    • $950,000

      Nicholasville Commercial Property For Sale

      Residence zoned for business, ideal for office or retail.
      2070 Vince Road, Nicholasville, KY 41314
      View Details
    • $329,900
      2,176 SF

      New Duplex in Nicholasville, KY

      New duplex with two bedrooms and modern amenities in Nicholasville.
      510-512 N Central Avenue, Nicholasville, KY 40356
      View Details
    • $329,000
      2,135 SF

      Nicholasville Duplex with Walkout Basement

      Custom-built duplex featuring oversized garages and walkout basement.
      112 A-B Meadowlark, Nicholasville, KY 40356
      View Details
    • $899,900

      Nicholasville Vacant Land For Sale

      6.89 acres of vacant land with development potential.
      Tract 1-D Ohare Lane, Nicholasville, KY 40356
      View Details
    • $595,000
      5,032 SF

      Tenant-Occupied Industrial Property For Sale

      Tenant-occupied industrial property with lease in place until 10/31/26.
      101 Kemper Dr, Nicholasville, KY 40356
      View Details
    • $229,000
      1,656 SF

      Nicholasville Garage-o-minium Storage Warehouse

      Individually owned storage warehouse with mezzanine and secure access.
      1070 Elizabeth Street, Nicholasville, KY 40356
      View Details
    • $950,000

      Keene Centre Development Opportunity

      1.5-acre development lot in established retail corridor.
      500 Keene Centre Drive, Nicholasville, KY 40356
      View Details
    • $265,000

      Nicholasville Land: Garden Lot Opportunity

      Land for new construction in a luxury, community-focused setting.
      5447 Tates Creek Road, Nicholasville, KY 40356
      View Details
    • $265,000

      Nicholasville Land in Sanctuary Garden

      Land in a new construction community with luxury and convenience.
      5447 Tates Creek Road, Nicholasville, KY 40356
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Spacious estate lot in a new luxury home community with build-to-suit opportunities and landscaped common areas.
    Where is this residential land & home lot located?
    The property is located at 5447 Tates Creek Road lot 28 Nicholasville, KY.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: Lot 28 in The Sanctuary, a new construction community in Lexington; Development plans include luxury townhomes, garden homes, and spacious estate lots; Build‑to‑suit opportunities available
    (606) 307-4756
    We can help!
    Listing Contact
    Ashley Teater
    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
    5447 Tates Creek Road lot: 28, Nicholasville, KY 40356
    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!