Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    8 Boone Station Rd Shelbyville, KY 40065

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8 Boone Station Rd Shelbyville, KY 40065

    View on Map
    • Land
    • 1.37 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 8 Boone Station Rd

    Lot size
    1.37 lot acres
    Property type
    Land

    Description

    This exceptional 1.37-acre commercial lot presents a remarkable investment opportunity in Shelbyville, Kentucky. Located at Lot 8 Boone Station Road, this property boasts a highly desirable C-Commercial zoning designation, allowing for a wide range of commercial development possibilities. Situated just half a mile past Kroger in the Hi Point Business Park, the land enjoys exceptional visibility and accessibility from a heavily traveled bypass road connecting Shelbyville and Eminence. The strategic location places the property in close proximity to established businesses, including KFC, Dollar General, Taco Bell, and Advanced Auto Parts, ensuring high foot traffic and brand recognition. Furthermore, the presence of a large residential neighborhood with approximately 275 apartments nearby guarantees a substantial customer base. The property's APN is S10-11-010. The asking price for this strategically positioned 1.37-acre parcel is $275,000. While this 1.37-acre lot is currently available, larger parcels ranging from 1 to 22 acres may also be available. This presents a unique chance to acquire a prime piece of commercial real estate in a thriving Kentucky market. Don't miss this opportunity to secure a foothold in a rapidly developing area. Contact us today to learn more about this exceptional property and its potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Kentucky
    Longitude
    -85.2038
    Latitude
    38.2111

    Comparable in this City

    • Value Estimation by Request
      2.45 Acres

      11 Mount Rushmore Ct

      Land • 2.45 Acres
      11 Mount Rushmore Ct, Shelbyville, KY 40065
      View Details
    • Value Estimation by Request
      1.39 Acres

      8 Mt Rushmore Dr

      Land • 1.39 Acres
      8 Mt Rushmore Dr, Shelbyville, KY 40065
      View Details
    • Value Estimation by Request
      0.86 Acres

      3 Boone Station Rd

      Land • 0.86 Acres
      3 Boone Station Rd, Shelbyville, KY 40065
      View Details
    • Value Estimation by Request
      1.79 Acres

      Legacy Ct

      Land • 1.79 Acres
      0 Legacy Ct, Shelbyville, KY 40065
      View Details
    • Value Estimation by Request
      2.52 Acres

      Taylorsville Rd

      Land • 2.52 Acres
      0 Taylorsville Rd, Shelbyville, KY 40065
      View Details
    • Value Estimation by Request
      1.17 Acres

      4 Mount Tabor Ct

      Land • 1.17 Acres
      4 Mount Tabor Ct, Shelbyville, KY 40065
      View Details

    Similar Nearby for Sale

    • $300,000
      0.99 Acres

      Shelbyville KY Land: Prime Acreage

      0.99-acre lot, ideal business development.
      7 Boone Station Rd, Shelbyville, KY 40065
      View Details
    • $499,500
      24.85 Acres

      Shelbyville Land with Large Barn

      24.85 acres near Shelbyville with a 46'x100' barn.
      3150 Cropper Rd, Shelbyville, KY 40065
      View Details
    • $2,481,000
      3.00 Acres

      Shelbyville KY Commercial Land

      Mixed-use development opportunity. Prime location.
      4280 Freedom's Way, Shelbyville, KY 40065
      View Details
    • Contact for pricing
      10.00 Acres

      Shelbyville Commercial Land Opportunity

      Prime KY Highway Commercial Land
      0 Freedom's Way, Shelbyville, KY 40065
      View Details
    • $1,000,000

      Highway Frontage Land For Sale

      1.37 acre commercial land near new Ford plant.
      000 Taylorsville Rd, Shelbyville, KY 40065
      View Details
    • $300,000

      1.47 Acre Commercial Lot

      1.47 acre lot near Kroger Marketplace and Shelby Farms.
      9 Boone Station Rd, Shelbyville, KY 40065
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Tracts For Lease

      Commercial land for lease at signalized corner in Shelbyville.
      703 Taylorsville Rd, Shelbyville, KY 40065
      View Details
    • Contact for pricing

      Freestanding Building on Midland Trail

      Freestanding building with high frontage and convenient access.
      1605 Midland Trl, Shelbyville, KY 40065
      View Details
    • Contact for pricing

      Shelbyville Industrial Space For Lease

      30,600 SF industrial space for lease in Shelbyville, KY.
      1019 Mount Vernon Dr, Shelbyville, KY 40065
      View Details
    • Contact for pricing

      Retail Space in Thriving Center

      6,730 SF retail space in high-traffic Shelbyville location.
      120 Midland Blvd, Shelbyville, KY 40065
      View Details
    • Contact for pricing

      Shelbyville Office Space For Rent

      Single tenant office space available in Shelbyville, Kentucky.
      223 Midland Park, Shelbyville, KY 40065
      View Details
    • Contact for pricing
      650,000 SF

      Shelbyville Warehouse Space Available

      650,000 sq ft warehouse space for rent.
      Logistics Dr, Shelbyville, KY 40065
      View Details
    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.
    8 Boone Station Rd
    Shelbyville, KY 40065
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!