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    786 State Hwy Wallins, KY 40873

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    786 State Hwy Wallins, KY 40873

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    • Commercial real estate
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 786 State Hwy

    Year built
    1920
    Lot size
    1.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 786 State Hwy 219 in Wallins, Kentucky, presents a remarkable investment opportunity. Situated on a one-acre corner lot downtown, next to the Post Office, this building boasts high visibility and easy access. The seller reports a total of 12,500 square feet of space, offering immense flexibility for a variety of commercial uses. The layout allows for the potential separation into multiple business units, catering to diverse needs. The building features three roll-up doors and two swing-open garage doors, providing ample access for loading and unloading. Extensive parking is available, accommodating approximately 50 vehicles. A concrete loading dock adds to the property's functionality. The building also includes an upstairs area on both sides, offering additional space for offices or storage. The property is equipped with a 5-ton heat pump for climate control, a security system for enhanced safety, and connects to city water and sewer lines. While located in a flood zone, there have been no significant flood events since 1977. Most recently used as a garage, this versatile building's rich history and prime location make it an ideal candidate for redevelopment or continued commercial use. The property's size, features, and location combine to create a compelling investment opportunity in the heart of Wallins.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wallins
    County
    Harlan
    State
    Kentucky
    Longitude
    -83.4132
    Latitude
    36.8249

    Comparable in this City

    • Value Estimation
      $550,000
      16,770 SF

      Hwy 219

      COMMERCIAL (GENERAL) • 16,770 SF
      Hwy 219, Wallins Creek, KY 40873
      View Details
    • Value Estimation by Request
      2,080 SF

      1752 Hwy 219

      COMMERCIAL (GENERAL) • 2,080 SF
      1752 Hwy 219, Wallins Creek, KY 40873
      View Details
    • Value Estimation by Request
      1,008 SF

      1498 Hwy 219

      COMMERCIAL (GENERAL) • 1,008 SF
      1498 Hwy 219, Wallins Creek, KY 40873
      View Details
    • Value Estimation by Request
      1,488 SF

      750 Hwy 219

      COMMERCIAL (GENERAL) • 1,488 SF
      750 Hwy 219, Wallins Creek, KY 40873-8914
      View Details
    • Value Estimation by Request

      364 Wallins Ave

      COMMERCIAL (GENERAL)
      364 Wallins Ave, Wallins Creek, KY 40873
      View Details
    • Value Estimation by Request
      1,904 SF

      300 Connector Rd

      COMMERCIAL (GENERAL) • 1,904 SF
      300 Connector Rd, Wallins Creek, KY 40873
      View Details

    Similar Nearby for Sale

    • New
      $80,000
      2,857 SF

      Former Church Property For Sale

      Former Wallins Methodist Church with kitchen, dining, and classrooms.
      324 S Wallins Ave, Wallins, KY 40873
      View Details
    • $30,000
      2,080 SF

      Highway Frontage Store in Wallins

      Storefront property with highway frontage and redevelopment potential in Wallins, KY.
      1752 Highway 219, Wallins, KY 40873
      View Details
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    Wallins, KY 40873
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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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