Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Mixed-Use Development Opportunity Title is generated by Realmo AI

    St Joseph Lane, London, KY 40741

    View on Map
    Claim this Listing
    For Sale
    $4,950,000

    COMMERCIAL - London, KY

    Lot size:
    15.00 Acres
    Added:
    Jan 1, 2026
    Days on Market:
    135
    Last Refresh:
    May 16 at 1:06 am

    Property Features for St Joseph Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    062-00-00-031.00
    Lot size
    15.00 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Shanna Sheperson

    Listing agent Shanna Sheperson License #245632

    Listing office Baker Auctions & Real Estate LLC 215 E Second Street, Perryville, KY

    Listing date Jan 1, 2026

    MLS# 26003188

    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

    • Prime 15+/- acre tract with prominent frontage and visibility from I‑75.
    • Located directly off Exit 38 and adjoins CHI St. Joseph Hospital, ensuring high traffic exposure.
    • No zoning restrictions, offering outstanding flexibility for a wide range of development options.
    • Seller is willing to divide the property.
    • Strong local demographics: population of nearly 64,000 and average household incomes exceeding $71K annually.
    • Positive geotechnical site mapping has already been completed.

    Overview

    This 15+/- acre tract is located directly off Exit 38, offering frontage and visibility from I-75. The property adjoins CHI St. Joseph Hospital and is situated along the primary access route serving the hospital. Located just outside the city limits, the property currently has no zoning restrictions, offering flexibility for a range of development options. It is suited for commercial, professional, or residential projects including hotels, medical or professional offices, restaurants, retail centers, shopping destinations, or luxury apartment communities. The seller is willing to divide the property, with acreage and pricing to be determined. The area has a population of nearly 64,000 and average household incomes exceeding $71,000 annually. Gas stations, grocery stores, restaurants, and coffee shops are within a five-minute drive. Geotechnical site mapping has been completed, enhancing the property's readiness for development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    London
    County
    Laurel
    State
    Kentucky
    Longitude
    -84.105537
    Latitude
    37.116608

    Nearby Similar for Sale

    • $350,000
      2,700 SF

      Commercial Building on US-25

      2,700 SF commercial building on US-25 between London and Corbin.
      4348 S Laurel Road, London, KY 40744
      View Details
    • $299,900
      1,400 SF

      Renovated Commercial Property in London, KY

      Fully renovated commercial property in downtown London, ready for immediate occupancy.
      318 S Dixie Street, London, KY 40741
      View Details
    • $150,000

      Unrestricted Property with Metal Building

      Flat, cleared property with metal building near US 25.
      40 Byble Road, London, KY 40744
      View Details
    • $900,000
      13,056 SF

      Versatile Commercial Building and Land

      Commercial building with office spaces, conference rooms, and vacant lots.
      60 Bennett Circle, London, KY 40741
      View Details
    • $150,000
      2,048 SF

      Flexible Commercial Property in London, KY

      Cleared property with metal building, suitable for various uses.
      40 Byble Road, London, KY 40744
      View Details
    • $519,000
      3,000 SF

      Townhomes in Golf Community

      Two townhomes in The Oaks of London golf community.
      143 & 145 Crooked Creek Drive, London, KY 40744
      View Details
    • $3,500,000
      36,029 SF

      Prime Commercial Redevelopment Opportunity

      High-visibility commercial property near I-75 Exit 38 in London, KY.
      1868 KY-192, London, KY 40744
      View Details
    • $575,000
      13,056 SF

      Versatile Commercial Building in London, KY

      13,056 SF commercial building suitable for diverse business ventures.
      60 Bennett Circle, London, KY 40741
      View Details
    • $349,000

      Commercial Land in London, KY

      Commercial land with frontage on two streets in London, KY.
      1703 N Main Street, London, KY 40741
      View Details
    • $150,000
      8,000 SF

      Office Building in Medical Plaza

      8,000 sq ft office building in high-traffic location.
      001 N Laurel Road, London, KY 40741
      View Details
    • $83,000

      Land with Scenic Farm Views

      5.21 acre tract with utilities and excavation work done.
      119 Hawk, London, KY 40741
      View Details
    • $589,000
      29,550 SF

      Versatile Industrial Property in London, KY

      Industrial property on 8.39 acres suitable for various operations.
      78 Levi Jackson Road, London, KY 40744
      View Details

    FAQs

    What type of property is this?
    Commercial land - Exceptional 15+/- acre tract with high visibility and flexibility.
    Where is this commercial land located?
    The property is located at St Joseph Lane London, KY.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: Prime 15+/- acre tract with prominent frontage and visibility from I‑75.; Located directly off Exit 38 and adjoins CHI St. Joseph Hospital, ensuring high traffic exposure.; No zoning restrictions, offering outstanding flexibility for a wide range of development options.
    (606) 510-1599
    We can help!
    Listing Contact
    Shanna Sheperson
    Real Estate License ID: 245632
    Learn More
    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
    St Joseph Lane, London, KY 40741
    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!