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    649 Caleast Rd Richmond, KY 40403

    For Sale
    $5,350,000

    152 Acres, Opportunity Zone, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 152-acre development parcel presents a unique investment opportunity in Madison County, Kentucky. Strategically located near Exit 83 of I-75, this property boasts thousands of feet of interstate frontage, ensuring high visibility and accessibility. Currently zoned UC-7, the land is primed for commercial or residential development, offering significant potential for diverse projects. Its location within an Opportunity Zone adds further investment appeal. The site's proximity to key infrastructure is a major advantage. It's less than a mile from I-75 Exit 83, and within two miles of both the Richmond Regional Airport and the Richmond Industrial Park. Furthermore, its location is approximately four miles south of Richmond and six miles north of Berea, providing convenient access to these thriving communities. The property's location offers easy access to US 25 and a significant US Government-Military presence in the county. This prime location, combined with its size and zoning potential, makes this a compelling opportunity for developers seeking a high-impact project in a rapidly growing area. The asking price for this exceptional property is $5,350,000. The address is 649 Caleast Rd, Berea, KY 40403.

    Property Features for 649 Caleast Rd

    General Information

    Property type
    Land
    Lot Size
    6,621,120 SF

    HighLights

    • Less than one mile to I‑75 Exit 83.
    • Extensive I‑75 frontage.
    • Suitable for commercial or residential development.
    • Two miles to Richmond Industrial Park and regional airport.
    • Conveniently located 4 miles south of Richmond, 6 miles north of Berea, and under 30 miles to Lexington.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.3205841
    Latitude
    37.6695972

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    FAQs

    What type of property is this?
    Land - 152 Acres, Opportunity Zone, High Visibility
    Where is this land located?
    The property is located at 649 Caleast Rd Richmond, KY.
    What is the asking price?
    The asking price for this property is $5,350,000.
    What are key features of this property?
    This property features: Less than one mile to I-75 Exit 83.; Extensive I-75 frontage.; Suitable for commercial or residential development.
    (859) 312-8069
    Request Owner's contact information
    649 Caleast Rd Richmond, KY 40403
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    Richmond, KY 40403
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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
    649 Caleast Rd Richmond, KY 40403
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