Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lakeview Buildable Land Title is generated by Realmo AI

    Cherokee Road lot 26 & 27, Lucas, KY 42156

    View on Map
    Claim this Listing
    For Sale
    $150,000

    LAND - Lucas, KY

    Lot size:
    0.63 Acres
    Added:
    May 2, 2026
    Days on Market:
    33
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for Cherokee Road lot 26 & 27

    General Information

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

    Utilities

    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Mary Bess Pedigo-Scott

    Listing agent Mary Bess Pedigo-Scott License #211822

    Listing office Real Estate Solutions 1128 Spencer Road, Scottsville, KY

    Listing date May 2, 2026

    MLS# RA20262519 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

    • Cleared lot in Indian Hills Resort subdivision with lake (year‑round) views
    • Acceptable PERC test reported; ready to build
    • No HOA fee; no trailers allowed
    • Flat lot that is already seeded
    • Covered boat slips available for lease at the marina or use the ramp to put in a boat
    • 5 minutes to Barren River State Park

    Overview

    These are buildable lakeview lots offered as two parcels, identified as Lots 26 and 27. The property is described as cleared and ready to build, with a flat grade and the lot already seeded. An acceptable perc test is noted, which supports on-site septic planning. Restrictions include no HOA fee and no trailers allowed.

    The lots are located within the Indian Hills Resort subdivision and are marketed for year-round lake views. The remarks also note that covered boat slips may be leased through the marina, or a boat may be put in at the ramp. Barren River State Park is described as approximately 5 minutes away.

    The parcels can be used to build one or two homes, with a stated minimum of 800 square feet above and below grade. This configuration may fit buyers looking to construct a primary home with flexibility for an additional residence, subject to the subdivision restrictions and the provided documents.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Lucas
    County
    Barren
    State
    Kentucky
    Longitude
    -86.0450429
    Latitude
    36.8404476

    Nearby Similar for Sale

    • $695,000
      5,580 SF

      Residential Farm with Amish Chapel

      Spacious 8-bedroom farm with two living spaces and chapel.
      409/411 S Lucas Road, Lucas, KY 42156
      View Details
    • $375,000
      3,097 SF

      Updated Residential Farm Near Lake

      Recently updated 5-bedroom home near Barren River Lake.
      273 Shady Acres Road, Lucas, KY 42156
      View Details
    • $259,000

      Land Near Barren River Lake

      5.52 acres with access to Highlander Trail System.
      13300 Scottsville Rd, Lucas, KY 42156
      View Details
    • $259,000

      Recreation Land Tract with Trail Access

      Direct access to the Highlander Trail system and proximity to a state park support outdoor and hospitality development.
      13300 Scottsville Road, Lucas, KY 42156
      View Details
    • $79,900

      Lakefront Lot with Approved Boat Slip

      Waterfront lot on Barren River Lake with an approved boat slip and building requirements, including no mobile homes.
      Comanche Circle lot: #2, Lucas, KY 42156
      View Details
    • $115,000

      Land For Sale, Lucas, KY

      8.45 acre commercial land for sale in Lucas, Kentucky.
      Cherokee Road, Lucas, KY 42156
      View Details
    • $250,000

      Barren River Lake Retreat Land

      One-acre waterfront land near Barren River Lake.
      308 Bay Ridge Rd, Lucas, KY 42156
      View Details
    • $250,000

      Barren River Lake Retreat Opportunity

      Private waterfront land for a custom lake home oasis.
      308 Bay Ridge Rd, Lucas, KY 42156
      View Details
    • $17,900

      Residential Lot in Lucas, KY

      Half-acre building lot in Barren River Lake subdivision.
      Cherokee Road lot: 51, Lucas, KY 42156
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Cleared, flat lots in a lake resort subdivision with an acceptable perc test and year-round water views.
    Where is this waterfront land located?
    The property is located at Cherokee Road lot 26 & 27 Lucas, KY.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Cleared lot in Indian Hills Resort subdivision with lake (year‑round) views; Acceptable PERC test reported; ready to build; No HOA fee; no trailers allowed
    (270) 784-2404
    We can help!
    Listing Contact
    Mary Bess Pedigo-Scott
    Real Estate License ID: 211822
    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
    Cherokee Road lot: 26 & 27, Lucas, KY 42156
    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!