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    Property profile & analytics

    6 Cumberland Gap Pkwy Corbin, KY 40701

    • Land
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 6 Cumberland Gap Pkwy

    Lot size
    1.00 lot acres
    Property type
    Land

    Description

    This prime 1-acre commercial lot in Corbin, Kentucky, presents a unique investment opportunity. Located on Lot 6, Cumberland Gap Parkway, this property boasts exceptional visibility due to its adjacency to Interstate 75, a major thoroughfare with an impressive Annual Average Daily Traffic (AADT) count of 42,562. The high traffic volume extends to Cumberland Gap Parkway itself, registering an AADT of 24,390 vehicles. This strategic location places the property near significant retail anchors including Walmart and Lowe's, ensuring high consumer traffic and brand recognition. The property is part of an 8-lot subdivision, with the option to purchase individual lots or the entire parcel. This versatile land, zoned for commercial use (APN: 122-00-00-087.01), offers significant potential for various commercial developments. While this listing focuses on the 1-acre parcel, additional acreage is available for purchase, providing opportunities for expansion or larger-scale projects. This is an exceptional chance to secure a high-visibility commercial property in a thriving Kentucky market. The asking price for this exceptional opportunity is $650,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Corbin
    County
    Laurel
    State
    Kentucky
    Longitude
    -84.109
    Latitude
    36.9766

    Comparable in this City

    • Value Estimation by Request
      1.50 Acres

      8 Cumberland Gap Pkwy

      Land • 1.50 Acres
      8 Cumberland Gap Pkwy, Corbin, KY 40701
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    • Value Estimation by Request
      0.76 Acres

      5 Cumberland Gap Pkwy

      Land • 0.76 Acres
      5 Cumberland Gap Pkwy, Corbin, KY 40701
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    • Value Estimation by Request
      10.00 Acres

      Cumberland Gap Pkwy

      Land • 10.00 Acres
      0 Cumberland Gap Pkwy, Corbin, KY 40701
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    • Value Estimation by Request
      1.00 Acre

      7 Cumberland Gap Pkwy

      Land • 1.00 Acre
      7 Cumberland Gap Pkwy, Corbin, KY 40701
      View Details
    • Value Estimation by Request
      12.84 Acres

      2690 Ky-1223

      Land • 12.84 Acres
      2690 Ky-1223, Corbin, KY 40701
      View Details
    • Value Estimation by Request
      1.50 Acres

      10 Watch Rd

      Land • 1.50 Acres
      10 Watch Rd, Corbin, KY 40701
      View Details

    Similar Nearby for Sale

    • $750,000
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      Corbin Commercial Land - $1.3M

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    • $2,900,000
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      Corbin KY Commercial Land - $2.9M

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    Similar Nearby for Lease

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      1,000 SF

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      Retail space available in a dominant shopping center.
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    6 Cumberland Gap Pkwy
    Corbin, KY 40701
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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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