Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Vacant Land Opportunity Title is generated by Realmo AI

    706 North Spalding Ave, Lebanon, KY 40033

    View on Map
    Claim this Listing
    For Sale
    $105,000

    Vacant Land - Lebanon, KY

    Lot size:
    2.40 Acres
    Added:
    Feb 26, 2023
    Days on Market:
    1193
    Last Refresh:
    Jun 3 at 10:06 am

    Property Features for 706 North Spalding Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    200
    Parking features
    Garage
    Standard status
    Active
    Lot size
    2.40 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Larry McCauley

    Listing agent Larry McCauley

    Listing office Exit Realty McCauley 137 East Main St, Lebanon, KY

    Listing date Feb 26, 2023

    MLS# 11159792 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • B‑2 Lot with potential for multiple uses
    • Prime location off the busy bypass
    • Located next to the new Head Start
    • Schools close by
    • Industry close by
    • Last available lot

    Overview

    This 2.4-acre vacant commercial land is a B-2 lot located off the bypass and next to the new Head Start in Lebanon, KY. The property is positioned in a location suitable for multiple uses, with schools and industry nearby. This is the last available lot of its kind.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Dental Office Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Hotel & Motel Auto Parts Store Bar & Pub Daycare Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Marion
    State
    Kentucky
    Longitude
    -85.247881
    Latitude
    37.58685

    Nearby Similar for Sale

    • $595,000
      7,000 SF

      Versatile Commercial Building Near Main

      Commercial building suitable for various purposes near Main Street.
      212 N Depot Street, Lebanon, KY 40033
      View Details
    • $329,900
      3,600 SF

      Mixed-Use Commercial Property with Apartment

      Downtown visibility, an adaptable main space, and a configured drive-through plus a private one-bedroom apartment create flexible revenue options.
      325 W Main Street, Lebanon, KY 40033
      View Details
    • $700,000
      11,500 SF

      Income-Producing Commercial Property in Lebanon

      Versatile commercial property with restaurant space, flea market, and Airbnb.
      65 Old Springfield Road, Lebanon, KY 40033
      View Details
    • $1,490,000

      Grain Elevator Operation in Lebanon

      6.78-acre grain elevator with 505,000-bushel capacity in Lebanon, KY.
      101 Bourbon Drive, Lebanon, KY 40033
      View Details
    • $1,000,000

      Lebanon, KY Vacant Commercial Land

      20.78 acre commercial land with B3 zoning.
      650 corporate drive, Lebanon, KY 40033
      View Details
    • $899,000
      16,500 SF

      Mixed-Use Building in Downtown Lebanon

      Two-story mixed-use building with restaurant and apartments in downtown Lebanon.
      202 W Main Street, Lebanon, KY 40033
      View Details
    • $195,000

      Commercial Lot on Corporate Drive

      Prime commercial land suitable for various business endeavors.
      1000 corporate Drive, lebanon, KY 40033
      View Details
    • $499,900

      51.73 Acres Vacant Land

      51.73 acres of vacant land in Lebanon, Kentucky.
      500 Gene Campbell Rd, Lebanon, KY 40033
      View Details
    • $580,000
      7,000 SF

      Advance Auto Parts For Sale

      7,000 SF retail property with NN lease in Lebanon, KY.
      749 West Main St, Lebanon, KY 40033
      View Details
    • $540,000

      Prime Commercial Land Opportunity

      3.42-acre commercial land with high visibility and easy access.
      0-0 Campbellsville Hwy, Lebanon, KY
      View Details
    • $550,000

      Lebanon, KY Vacant Land

      48 acres of vacant land in Lebanon, Kentucky.
      1275 Gene Campbell Rd, Lebanon, KY 40033
      View Details
    • $299,900

      Vacant Land in Lebanon, KY

      41.54 acres of land suitable for hunting and recreation.
      427 heritage hills lane, lebanon, KY 40033
      View Details

    FAQs

    What type of property is this?
    Commercial land - B-2 lot in prime location near bypass and schools.
    Where is this commercial land located?
    The property is located at 706 North Spalding Ave Lebanon, KY.
    What is the asking price?
    The asking price for this property is $105,000.
    What are key features of this property?
    This property features: B‑2 Lot with potential for multiple uses; Prime location off the busy bypass; Located next to the new Head Start
    (270) 692-8800
    We can help!
    Listing Contact
    Larry McCauley
    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
    706 North Spalding Ave, Lebanon, KY 40033
    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!