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    2489 Lakeway Dr Russell Springs, KY 42642

    For Lease
    Contact for pricing

    1.1-Acre Retail Outlot - For Sale/Lease

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This 1.1-acre commercial land parcel, located in the Key Village Shopping Center in Russell Springs, KY, presents a prime retail development opportunity. Situated at the high-traffic intersection of US 127 and Lakeway Drive, the property boasts excellent visibility to over 11,000 vehicles daily. Previously occupied by a Sonic Drive-In, this outlot offers a flexible C-1 (Highway Oriented Commercial) zoning designation, accommodating a wide range of retail, wholesale, and service-oriented businesses. The site allows for either revitalization of an existing structure or complete redevelopment, aligning with the successful retail environment of the shopping center. Nearby established businesses include Kroger, McDonald's, Advance Auto Parts, and Dairy Queen, indicating a strong retail corridor. This property is available for both sale and lease, providing flexibility for potential investors and developers. The high daily traffic count and prominent location make this an exceptional opportunity to establish a thriving business in a well-established commercial area. The property's size and zoning provide ample room for a variety of development options, catering to diverse business needs. This is a unique chance to capitalize on a high-visibility location within a successful shopping center.

    Property Features for 2489 Lakeway Dr

    General Information

    Property type
    Land
    Lease Type
    Gross Lease

    Unit(s) available at that property

    Space
    Size
    0 SF

    HighLights

    • 1.1‑acre commercial land parcel available for sale or lease.
    • Located in the Key Village Shopping Center in Russell Springs, KY, at the high‑traffic intersection of US 127 and Lakeway Drive.
    • Boasts excellent visibility with over 11,000 vehicles per day (VPD).
    • Flexible C‑1 (Highway Oriented Commercial) zoning allows for various retail, wholesale, and service businesses.
    • Former Sonic Drive‑In site presents an opportunity for redevelopment or revitalization.
    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

    Nearby Comparable

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      48,787 SF

      Russell Springs Retail Land Opportunity

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      Russell Springs Retail Land Opportunity

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      35 Key Village Rd, Russell Springs, KY 42642
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      Retail Property in Russell Springs

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      Campbellsville Retail Center Opportunity

      Prime 34,000 SF Retail Space Available
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      Retail Space in Campbellsville, KY

      Retail space available in Campbellsville, Kentucky.
      1509 E Broadway St, Campbellsville, KY 42718
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    Nearby Similar for Lease

    • $10,750,000
      5,074 SF

      Retail Property in Russell Springs

      Retail property available for lease in Russell Springs, Kentucky.
      181 Highway 127 S, Russell Springs, KY 42642
      View Details

    FAQs

    What type of property is this?
    Land - 1.1-Acre Retail Outlot - For Sale/Lease
    Where is this land located?
    The property is located at 2489 Lakeway Dr Russell Springs, KY.
    What are key features of this property?
    This property features: 1.1-acre commercial land parcel available for sale or lease.; Located in the Key Village Shopping Center in Russell Springs, KY, at the high-traffic intersection of US 127 and Lakeway Drive.; Boasts excellent visibility with over 11,000 vehicles per day (VPD).
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    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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