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    694A Tunnel Ridge Road Argillite, KY 41121

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    Claim this Listing
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    For Sale
    $1,943,200

    LAND - Argillite, KY

    Lot size:
    694.00 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 26 at 9:06 pm

    Property Features for 694A Tunnel Ridge Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AR
    Standard status
    Active
    Lot size
    694.00 Acres

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Jeremiah B Brown

    Listing agent Jeremiah B Brown License #294658

    Listing office JB Land & Home Realty 4629 Maysville Road, Carlisle, KY

    Listing date Apr 24, 2026

    MLS# 26009109 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.

    Overview

    Kentucky Hunting, Timber & Recreational Land

    This 694-acre tract in Eastern Kentucky, located along the Greenup and Carter County line, is suited for hunting, timber, and recreational activities. Accessible from multiple directions, it features county road frontage off Caudill Ridge Road, western access via Sugar Cane Hollow Road and Sugar Cane Hollow Lane, and entry from State Route 3306 to the north. Tunnel Ridge Road, a private road accessed from Caudill Branch Road, runs through the property. Utilities are available along the southern boundary near Sugar Cane Hollow, with additional access points on the north end. The land offers a combination of ridgelines and hollows, creating travel corridors for wildlife and scenic build sites. Established trails are located throughout the property. A mix of mature timber provides habitat and potential timber value, while natural water sources including Caudle Branch Creek and nearby Wilson Creek add to the usability. The property is suited for hunting enthusiasts, with a strong population of whitetail deer and turkey. The forest floor is rich with natural food sources such as acorns. With existing clearings and stand locations, the property is ready for the upcoming hunting season. Multiple potential homesites are located throughout. Zoned agricultural (Zone 4), the property also presents subdivision potential, with shared access from Tunnel Ridge Road. It is located minutes from Interstate 64 and the Tri-State Airport. Recreational opportunities are close by, including Grayson Lake State Park and Rush Off-Road. The nearby city of Grayson offers shopping, dining, and essential services.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Argillite
    County
    Greenup
    State
    Kentucky
    Longitude
    -82.8135
    Latitude
    38.4268

    Nearby Similar for Sale

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      Secluded Acreage in Eastern Kentucky

      566+- acre hunting and recreational land near I-64.
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      Kentucky Hunting & Recreational Land

      1271-acre hunting and recreational property in Eastern Kentucky.
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    FAQs

    What type of property is this?
    Hunting land - 694-acre retreat with hunting, timber, and recreational opportunities in Kentucky.
    Where is this hunting land located?
    The property is located at 694A Tunnel Ridge Road Argillite, KY.
    What is the asking price?
    The asking price for this property is $1,943,200.
    What are key features of this property?
    This property features: 694‑acre hunting and recreational retreat in Eastern Kentucky with abundant whitetail deer and turkey populations.; Multiple access points via county and state roads, including frontage on Caudill Ridge Road and access from State Route 3306.; Mix of mature timber, natural water sources (Caudle Branch Creek and nearby Wilson Creek), and established trails throughout the property.
    (859) 473-2259
    We can help!
    Listing Contact
    Jeremiah B Brown
    Real Estate License ID: 294658
    Learn More
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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.

    More about this property
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