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    2047 Merchant Dr Richmond, KY 40475

    Sponsored
    For Sale
    $2,391,000

    Prime commercial land, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 7.97-acre commercial land parcel, located at 2047 Merchant Drive, Lot #3 in Richmond, Kentucky (APN: 0068-008E-0002), presents a unique investment opportunity. Zoned B-3, this property offers significant potential for various commercial developments. Situated in Madison County, with a convenient location off the Robert Martin Bypass between Merrick Road and Four Mile Road, it benefits from high visibility and easy access. The site is approximately 20 minutes south of Lexington, placing it within a thriving regional market. This land is part of a larger development anchored by a Kohl's Department Store, with existing outparcels and in-line spaces available. The area is experiencing substantial residential growth, with over 600 new homes recently built adjacent to the property, creating a strong demand for commercial services. The asking price is $2,391,000, representing a price per acre of $300,000. While the surrounding development offers flexibility in lot size and build-to-suit options, this specific 7.97-acre parcel presents a compelling opportunity for immediate development or strategic land banking. The property's prime location and strong surrounding demographics make it an attractive investment for both short-term and long-term growth.

    Property Features for 2047 Merchant Dr

    General Information

    Property type
    Land
    Lot Size
    347,173 SF

    HighLights

    • 7.97‑acre lot available for sale.
    • Offered at $300,000 per acre.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kohl's Department Store

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.2734732
    Latitude
    37.7549789

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    FAQs

    What type of property is this?
    Land - Prime commercial land, ideal for development.
    Where is this land located?
    The property is located at 2047 Merchant Dr Richmond, KY.
    What is the asking price?
    The asking price for this property is $2,391,000.
    What are key features of this property?
    This property features: 7.97-acre lot available for sale.; Offered at $300,000 per acre.;
    (859) 421-8959
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    2047 Merchant Dr Richmond, KY 40475
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    Realmo Value Estimation

    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.

    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.

    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
    2047 Merchant Dr Richmond, KY 40475
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