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    Versatile Commercial Property on Farmland Title is generated by Realmo AI

    7325 Flemingsburg Road, Morehead, KY 40351

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    Claim this Listing
    For Sale
    $675,000

    COMMERCIAL - Morehead, KY

    Property size:
    960 SF
    Lot size:
    27.48 Acres
    Price / SF:
    $703/SF
    Added:
    Oct 9, 2025
    Days on Market:
    230
    Last Refresh:
    May 26 at 2:06 pm

    Property Features for 7325 Flemingsburg Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    4
    Standard status
    Active
    APN
    028-00 00 001.14 and 028-00 00 001.02
    Size
    960 SF
    Lot size
    27.48 Acres

    Utilities

    Utilities
    Water Available

    Building Details

    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Tamara Hurst
    Tamara Hurst

    Listing agent Tamara Hurst License #272958

    Listing office SimpliHOM 401 W Main St Ste 204, Lexington, KY

    Listing date Oct 9, 2025

    MLS# 25503354

    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

    • Prime location with over 1,200 feet of road frontage on busy Highway 32.
    • Versatile property with a commercial building (960 ft2), 27.475 acres of farmland, and a rental house.
    • Cleared and maintained gently rolling farmland ready for immediate agricultural use.
    • Income potential from existing commercial building and rental house ($550/month).
    • Utilities (gas, sewer, water) readily available for connection.
    • Generous parking lot provides ample space.

    Overview

    This property features a 960 square foot commercial building on 27.475 acres of gently rolling farmland. The site has over 1,200 feet of road frontage along Highway 32, a connector between Rowan and Fleming counties, offering visibility and accessibility. The land is predominantly cleared and maintained for hay production. The commercial building has a parking lot and access to the farmland. In addition to the main structure, the property includes a barn and a rental house. The rental house requires renovation but offers income potential. Potential uses include mixed-use commercial development, agricultural ventures, residential real estate development, and recreational facilities. The location ensures visibility and access. The combination of commercial space, farmland, and residential rental potential allows for diverse investment opportunities. The farmland is ready for immediate use. Gas, sewer, and water services are available for connection. The commercial building offers the opportunity to open a business and generate cash flow. The rental house offers immediate cash flow, with the potential for increased income through renovation. The property is located in Morehead, Kentucky.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Department Store Kitchen & Bath Showroom Food Market Storage Facility Grocery & Convenience Store Home Appliance Store Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Morehead
    County
    Rowan
    State
    Kentucky
    Longitude
    -83.524324
    Latitude
    38.254061

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    FAQs

    What type of property is this?
    Farm - Commercial building on 27.475 acres with highway frontage.
    Where is this farm located?
    The property is located at 7325 Flemingsburg Road Morehead, KY.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Prime location with over 1,200 feet of road frontage on busy Highway 32.; Versatile property with a commercial building (960 ft2), 27.475 acres of farmland, and a rental house.; Cleared and maintained gently rolling farmland ready for immediate agricultural use.
    (502) 229-3378
    We can help!
    Listing Contact
    Tamara Hurst
    Tamara Hurst
    Real Estate License ID: 272958
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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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