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    Recreational Mini-Farm Tract Title is generated by Realmo AI

    Kelly Road, Bowling Green, KY 42101

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    Claim this Listing
    For Sale
    $109,900

    LAND - Bowling Green, KY

    Lot size:
    5.27 Acres
    Added:
    Sep 22, 2025
    Days on Market:
    257
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for Kelly Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    5.27 Acres

    We can help!

    Listing Contact
    Terry Garmon

    Listing agent Terry Garmon License #204195

    Listing office American Land & Farm, LLC 1011 Greathouse Road, Bowling Green, KY

    Listing date Sep 22, 2025

    MLS# RA20255465 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5.27‑acre tract near Bowling Green Transpark, minutes to I‑65 and Bowling Green
    • Deed restrictions for home: 1,800 sq ft minimum with an attached or detached 2‑car garage
    • Exterior requirements: brick, stone, hardy board, or wood siding; vinyl limited to 50% max
    • Restrictions include no commercial swine, poultry, dairy, kennels, no salvage operations, and no mobile/manufactured homes or trailers
    • Tract is mostly open in grass hay, offering multiple building sites with views of surrounding farm land
    • Metal‑sided barns and outbuildings are allowed

    Overview

    This 5.27-acre tract offers a mostly open setting in grass hay, suited for a mini-farm or residential build. The property is described as having views of surrounding farm land and providing multiple potential building sites.

    The tract is located very close to the Bowling Green Transpark, with access described as within minutes to I-65 and Bowling Green. The address is Kelly Road in Bowling Green, Kentucky, in Warren County.

    Deed restrictions apply to residential development, including a minimum 1,800 square-foot home requirement with an attached or detached two-car garage. Approved exterior materials include brick, stone, hardy board, or wood siding, with no more than 50 percent vinyl. Restrictions also address certain livestock and operating uses, including no commercial swine, poultry, dairy, or kennels, and no salvage operations. Mobile, manufactured homes, or trailers are not permitted, while metal-sided barns or outbuildings are stated as acceptable. Barn and outbuilding structures support practical hobby-farm use on the largely open acreage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Bowling Green
    County
    Warren
    State
    Kentucky
    Longitude
    -86.3178333
    Latitude
    37.020142

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - A mostly open 5.27-acre tract suitable for building a restricted residential home or small mini-farm.
    Where is this agricultural land / farmland located?
    The property is located at Kelly Road Bowling Green, KY.
    What is the asking price?
    The asking price for this property is $109,900.
    What are key features of this property?
    This property features: 5.27‑acre tract near Bowling Green Transpark, minutes to I‑65 and Bowling Green; Deed restrictions for home: 1,800 sq ft minimum with an attached or detached 2‑car garage; Exterior requirements: brick, stone, hardy board, or wood siding; vinyl limited to 50% max
    (270) 392-1170
    We can help!
    Listing Contact
    Terry Garmon
    Real Estate License ID: 204195
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    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.

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