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    Prime Commercial Land Opportunity Title is generated by Realmo AI

    Louisville Road, Plum Springs, KY 42101

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    Claim this Listing
    For Sale
    $16,959,788

    LAND - Plum Springs, KY

    Lot size:
    212.00 Acres
    Added:
    Oct 24, 2024
    Days on Market:
    588
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for Louisville Road

    General Information

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

    We can help!

    Listing Contact
    Stephen Stucy

    Listing agent Stephen Stucy License #218760

    Listing office Coldwell Banker Legacy Group 753 Bakerfields Way, Suite 102, Bowling Green, KY

    Listing date Oct 24, 2024

    MLS# RA20246114

    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

    • Prime location in a high‑growth area, minutes from Kentucky Transpark and with quick access to I‑65.
    • Large acreage: 212 acres suitable for mixed‑use commercial development.
    • Equipped with public water/sewer, high‑capacity natural gas, and high‑speed fiber internet.
    • Features 1,657+ feet of frontage on Louisville Road.
    • Business‑friendly environment with competitive tax incentives.
    • Positioned in Warren County, within a day's drive of 60% of U.S. markets.

    Overview

    This 212-acre property presents a mixed-use commercial development opportunity in a rapidly growing region of South Central Kentucky. The site features over 1,657 feet of frontage on Louisville Road, positioning it along the Louisville Road Northeast Business Corridor. It is suitable for big-box retail, office and professional spaces, healthcare facilities, hotels, fast food establishments, local businesses, and outparcels. The property is equipped with public water and sewer access, high-capacity natural gas infrastructure, and high-speed fiber internet connectivity. Located minutes from Kentucky Transpark, a major industrial hub with new facilities under construction, the site offers access to major employers and growing industries. Quick access to Interstate 65 via Exits 26 and 28 facilitates transportation for commerce, logistics, and customers. Situated in Warren County, home to Bowling Green, the property benefits from exceptional market access, with 60% of U.S. markets reachable within a day's drive. Bowling Green is home to the General Motors Corvette Assembly Plant, Western Kentucky University, and the National Corvette Museum. Kentucky offers a business-friendly environment with competitive tax incentives and sales tax exemptions for qualifying businesses.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Plum Springs
    County
    Warren
    State
    Kentucky
    Longitude
    -86.3409383
    Latitude
    37.0353675

    FAQs

    What type of property is this?
    Commercial land - 212-acre mixed-use development site with excellent frontage and utilities.
    Where is this commercial land located?
    The property is located at Louisville Road Plum Springs, KY.
    What is the asking price?
    The asking price for this property is $16,959,788.
    What are key features of this property?
    This property features: Prime location in a high‑growth area, minutes from Kentucky Transpark and with quick access to I‑65.; Large acreage: 212 acres suitable for mixed‑use commercial development.; Equipped with public water/sewer, high‑capacity natural gas, and high‑speed fiber internet.
    (270) 392-1255
    We can help!
    Listing Contact
    Stephen Stucy
    Real Estate License ID: 218760
    Learn More
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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.

    More about this property
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