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    2489 Lakeway Dr Russell Springs, KY 42642

    For Sale
    $600,000

    1.1-acre commercial lot, high visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This 1.1-acre commercial land parcel, located at 2489 Lakeway Drive in Russell Springs, Kentucky (zip code 42642), presents a unique redevelopment or revitalization opportunity. Situated in the Key Village Shopping Center, this property boasts excellent visibility at the intersection of US 127 and Lakeway Drive, experiencing over 11,000 vehicles per day. The flexible C-1 zoning (highway-oriented commercial) allows for a wide range of retail, wholesale, and service-oriented businesses. The property's previous use as a Sonic Drive-In further enhances its potential. This prime location benefits from proximity to established businesses such as Kroger, McDonald's, Advance Auto Parts, and Dairy Queen, indicating a strong retail corridor. The property is available for sale at $600,000 and is also available for lease. This outlot offers significant potential for investors and businesses seeking a high-traffic location in a thriving retail area. The property is zoned for highway-oriented commercial use, providing flexibility for various business types. This is an exceptional opportunity to capitalize on the high visibility and established commercial presence in this key location.

    Property Features for 2489 Lakeway Dr

    General Information

    Property type
    Land
    Lot Size
    47,916 SF

    HighLights

    • 11,000+ square foot outparcel available for sale or lease.
    • C‑1 zoning allows for flexible uses.
    • Excellent opportunity for revitalization or redevelopment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Russell Springs
    County
    Russell
    State
    Kentucky
    Longitude
    -85.0724936
    Latitude
    37.0687826

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    FAQs

    What type of property is this?
    Land - 1.1-acre commercial lot, high visibility
    Where is this land located?
    The property is located at 2489 Lakeway Dr Russell Springs, KY.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 11,000+ square foot outparcel available for sale or lease.; C-1 zoning allows for flexible uses.; Excellent opportunity for revitalization or redevelopment.
    Request Owner's contact information
    2489 Lakeway Dr Russell Springs, KY 42642
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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
    2489 Lakeway Dr Russell Springs, KY 42642
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