Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    175 Lee Ave Pikeville, KY 41501

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3-Acre Pad, High Traffic, C-2 Zoning

    Property size:
    130,680 SF

    Property Features for 175 Lee Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    130,680 SF
    Lot Size
    130,680 SF

    Building Details

    Stories
    1

    We can help!

    Listing Contact
    Casey Smallwood
    Casey Smallwood

    Listing Agency: SRS Real Estate Partners Louisville Listing Agent: Casey Smallwood

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 3-acre pad site presents a remarkable opportunity for QSR/fast food and storefront retail development in Pikeville, Kentucky. Boasting a substantial 130,680 square feet of buildable space, this single-story property is ideally situated on 175 Lee Ave, within Pike County, and zoned C-2 Highway Commercial District, allowing for a wide range of commercial uses. Its prime location offers unparalleled visibility and accessibility, directly adjacent to a thriving shopping center anchored by a Walmart Supercenter and Lowe's, ensuring high foot traffic and customer exposure. The property benefits from excellent visibility to Highway 460 and Thompson Road, further enhancing its appeal to potential businesses. Market analysis indicates high average household incomes within a one-mile radius, suggesting a strong consumer base for retail establishments. This location provides a unique opportunity to capitalize on the existing commercial activity and strong demographics of the area. The property's size and zoning flexibility make it suitable for a variety of development concepts, promising significant return on investment. This is a rare opportunity to secure a prominent retail location in a rapidly growing market. The property's address is 175 Lee Ave, Pikeville, KY 41501.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drake's Pikeville, KY Restaurant

    Suggested Use

    HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Pikeville
    County
    Pike
    State
    Kentucky
    Longitude
    -82.5341947
    Latitude
    37.5013555

    Nearby Similar for Sale

    • $699,000
      4,356 SF

      Pikeville Commercial Property For Sale

      Two-story mixed-use building on 1.04 acres near amenities.
      247 South Mayo Trl, Pikeville, KY 41501
      View Details
    • $159,900
      Pending

      Pikeville Commercial Building on US 23

      Spacious commercial property with high visibility and easy access.
      1812 Us Highway 23, Pikeville, KY 41501
      View Details
    • $139,000
      1,720 SF

      Turnkey Medical Suite in Pikeville

      Move-in ready medical suite with exam rooms and offices.
      387 Town Mountain Rd, Pikeville, KY 41501
      View Details
    • $249,000
      1,368 SF

      Renovated Duplex with Mountain Views

      Cash flowing, fully furnished duplex near colleges and hospital.
      219 Peach Orchard Dr, Pikeville, KY 41501
      View Details
    • $239,000
      5,616 SF

      Pikeville Commercial Building with Income

      Versatile commercial property with retail spaces and apartments for sale.
      5333 North Mayo Trl, Pikeville, KY 41501
      View Details
    • Contact for pricing
      12,668 SF

      Pikeville, KY Dollar General Market

      New Dollar General Market in Pikeville, KY for sale.
      9751 Millard Hwy, Pikeville, KY 41501
      View Details
    • $1,531,425
      12,668 SF

      East Kentucky Dollar General Market

      High-yield, NNN-leased retail investment
      9751 Millard Hwy, Pikeville, KY 41501
      View Details
    • $3,813,333
      8,500 SF

      Pikeville Retail Center Investment

      High-traffic, 2-tenant shopping center in KY.
      115 Lee Ave, Pikeville, KY 41501
      View Details

    FAQs

    What type of property is this?
    Individual retail property - 3-Acre Pad, High Traffic, C-2 Zoning
    Where is this individual retail property located?
    The property is located at 175 Lee Ave Pikeville, KY.
    What are key features of this property?
    This property features: 3-acre pad site in Pikeville, KY, ideal for QSR/fast food and retail development.; 130,680 square feet of buildable space on 175 Lee Ave, zoned C-2 Highway Commercial.; Prime location adjacent to a Walmart Supercenter and Lowe's, offering high visibility and foot traffic.
    (502) 791-9762 Call to check price and availability
    Request Owner's contact information
    175 Lee Ave Pikeville, KY 41501
    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.
    175 Lee Ave
    Pikeville, KY 41501
    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
    175 Lee Ave Pikeville, KY 41501
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Casey Smallwood
    Casey Smallwood
    Real Estate License ID: 75297
    (502) 791-9762
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!