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    General Commercial Zoned Land Title is generated by Realmo AI

    Waterfall Court, Madisonville, KY 42431

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    Picture of Commercial land at Waterfall Court, Madisonville, KY
    For Sale
    $64,900

    COMMERCIAL - Madisonville, KY

    Lot size:
    1.09 Acres
    Added:
    Dec 19, 2023
    Days on Market:
    898
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for Waterfall Court

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    GC
    Standard status
    Active
    Lot size
    1.09 Acres

    We can help!

    Listing Contact
    Melvin Hicklin
    Melvin Hicklin

    Listing agent Melvin Hicklin License #KY-54214

    Listing office HICKLIN REAL ESTATE P.O. Box 446, Madisonville, KY

    Listing date Dec 19, 2023

    MLS# 114645

    Copyright © 2026 Madisonville-Hopkins County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.093‑acre lot adjoining I‑69
    • Zoned General Commercial
    • Suitable for uses such as mini storage, church, office, or service industry (per listing remarks)
    • High traffic visibility on the interstate highway (per listing remarks)
    • Possible build‑to‑suit options (per listing remarks)

    Overview

    This offering is a commercial land parcel totaling 1.093 acres, zoned General Commercial (GC). The site is being marketed as flexible for a variety of development concepts, with the option for a build-to-suit arrangement. The property size and zoning make it suitable for a range of light commercial and institutional uses.

    The parcel adjoins I-69, providing direct interstate adjacency and high-visibility exposure from the highway. That visibility can be a practical factor for businesses that benefit from drive-by awareness and easy roadside recognition. The listing also notes the site is positioned for development that can be tailored to the needs of the end user.

    For prospective tenants, buyers, or developers, this is a straightforward GC-zoned land opportunity with interstate adjacency and the potential to shape improvements around an intended use. The listing specifically points to concepts such as mini storage, a church, office space, or service-industry development. Buyers considering their site requirements may find the build-to-suit angle helpful when evaluating site plans, layouts, and program design for the intended operation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Madisonville
    County
    Hopkins
    State
    Kentucky
    Longitude
    -87.483425
    Latitude
    37.350988

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    FAQs

    What type of property is this?
    Commercial land - General Commercial zoned acreage adjoining I-69, offering visibility and flexibility for build-to-suit commercial uses.
    Where is this commercial land located?
    The property is located at Waterfall Court Madisonville, KY.
    What is the asking price?
    The asking price for this property is $64,900.
    What are key features of this property?
    This property features: 1.093‑acre lot adjoining I‑69; Zoned General Commercial; Suitable for uses such as mini storage, church, office, or service industry (per listing remarks)
    (270) 836-1119
    We can help!
    Listing Contact
    Melvin Hicklin
    Melvin Hicklin
    Real Estate License ID: KY-54214
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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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