Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Retail Park Land Parcel Title is generated by Realmo AI

    Cumberland Gap Pkwy lot 3, Corbin, KY 40701

    View on Map
    Claim this Listing
    For Sale
    $1,075,000

    LAND - Corbin, KY

    Lot size:
    1.18 Acres
    Added:
    May 31, 2024
    Days on Market:
    735
    Last Refresh:
    Jun 4 at 8:06 am

    Property Features for Cumberland Gap Pkwy lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    122-00-00-087.3
    Lot size
    1.18 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Tommy Black

    Listing agent Tommy Black License #207650

    Listing office RE/MAX On Main, Inc 208 S Main St, Corbin, KY

    Listing date May 31, 2024

    MLS# 24011136 Listing URL

    Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Commercial retail park – Lot 3 available for purchase
    • Water available
    • Strong traffic counts: AADT 42,462 on I‑75 and 24,390 on Cumberland Gap Pkwy
    • Lots 1 through 8 can be purchased together or separately
    • Potential additional acreage for further development can be purchased (not included in the listing)

    Overview

    This offering is a commercial retail park land parcel identified as Lot 3, with 1.18 acres shown for the listed lot size. The listing notes that potential additional acreage is not included in the listing but may be purchased separately for further development. Parcels identified as Lots 1 through 8 can be purchased together or individually, providing flexibility for phased or single-lot development plans.

    The property is located on Cumberland Gap Parkway in Corbin, Kentucky. Traffic counts listed in the remarks include 42,462 AADT on I-75 and 24,390 AADT on Cumberland Gap Parkway, supporting visibility to passing vehicles from the surrounding roadway network.

    For buyers considering retail-oriented development, this parcel provides a defined lot within a multi-lot retail park framework, with the option to expand by combining with additional lots or separately purchased acreage. It is also suited to investors or developers who want to control site scale and timing, while aligning the project concept to the documented traffic exposure from the two named corridors.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Corbin
    County
    Whitley
    State
    Kentucky
    Longitude
    -84.109206
    Latitude
    36.977612

    Nearby Similar for Sale

    • $849,900
      4,313 SF

      Versatile Mixed-Use Property in Corbin

      Spacious commercial property with live/work potential in prime location.
      404 Ford Street, Corbin, KY 40701
      View Details
    • $2,300,000
      7,712 SF

      Corbin, KY Commercial Opportunity

      High-visibility commercial property with flexible space and ample parking.
      15139 US-25E, Corbin, KY 40701
      View Details
    • $1,300,000
      16,240 SF

      Versatile Commercial Building Near I-75

      Well-maintained 16,240 SF building suitable for diverse uses.
      3444 Cumberland Falls Highway, Corbin, KY 40701
      View Details
    • $300,000
      4,100 SF

      Highway Frontage Commercial Building

      4100 SF commercial building on 3 fenced acres.
      9025 S U.S. Highway 25, Corbin, KY 40701
      View Details
    • $520,000
      6,298 SF

      Corbin, Kentucky Investment Opportunity

      Turnkey investment: three fully leased duplexes in Corbin, Kentucky.
      46, 58, 66 Dantley Drive, Corbin, KY 40701
      View Details
    • $795,000
      1,568 SF

      Corbin Commercial Property For Sale

      Prime commercial property near I-75 and Walmart in Corbin, KY.
      202 S Stewart Road, Corbin, KY 40701
      View Details
    • $120,000
      1,768 SF

      Commercial Property in Corbin, KY

      Commercial property for sale in Corbin, Kentucky, with R-1B zoning.
      115 London Avenue, Corbin, KY 40701
      View Details
    • $799,000
      7,000 SF

      Industrial Building Near Interstate 75

      7,000 SF industrial building on 3.5 acres near I-75.
      2095 State Highway 3041, Corbin, KY 40701
      View Details
    • $279,000
      1,758 SF

      Updated Building in Corbin, KY

      Renovated building suitable for boutique, office, or beauty shop.
      116 E Center Street, Corbin, KY 40701
      View Details
    • $899,900
      7,232 SF

      Corbin Estate: Luxury Living

      Custom-built estate with multi-family or income-producing potential in Corbin.
      48 Tori Pine Lane, Corbin, KY 40701
      View Details
    • $379,000
      5,969 SF

      Versatile Commercial Building in Corbin, KY

      Office and warehouse space with ample parking and showroom potential.
      2201 S Main Street, Corbin, KY 40701
      View Details
    • $850,000
      11,158 SF

      Corbin Commercial Property on Main

      Commercial property with office, warehouse, and ample parking.
      2400 S Main Street, Corbin, KY 40701
      View Details

    FAQs

    What type of property is this?
    Commercial land - Retail development land on major roadways with documented traffic counts along I-75 and Cumberland Gap Parkway.
    Where is this commercial land located?
    The property is located at Cumberland Gap Pkwy lot 3 Corbin, KY.
    What is the asking price?
    The asking price for this property is $1,075,000.
    What are key features of this property?
    This property features: Commercial retail park – Lot 3 available for purchase; Water available; Strong traffic counts: AADT 42,462 on I‑75 and 24,390 on Cumberland Gap Pkwy
    (606) 215-1256
    We can help!
    Listing Contact
    Tommy Black
    Real Estate License ID: 207650
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    Cumberland Gap Pkwy lot: 3, Corbin, KY 40701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!