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

    42 Homestead Ln Monticello, KY 42633

    • Commercial real estate
    • 0.68 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2030129
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 42 Homestead Ln

    Lot size
    0.68 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.68-acre retail property, located at 42 Homestead Ln, Monticello, KY 42633, presents a unique investment opportunity. Situated within Monticello city limits, this property offers high visibility and convenient access. The land is ideal for a variety of retail ventures, benefiting from its size and prime location. Wayne County's thriving community provides a strong customer base for any retail establishment. The property's 0.68-acre lot provides ample space for building expansion or outdoor display areas, enhancing the potential for business growth. The address is easily accessible via a blacktop driveway. Proximity to Lake Cumberland (10 miles to Beaver Creek and Conley Bottom) offers additional recreational opportunities for potential customers and employees. This property is ready for immediate development, presenting a rare chance to establish a successful retail business in a desirable Kentucky location. The property's location offers easy access to local amenities, ensuring convenience for both business operations and customer traffic. This is a prime opportunity for entrepreneurs seeking a well-positioned retail space in a growing community. The property's size and location make it an attractive investment for those seeking a strong return on investment in the Kentucky retail market. The existing blacktop driveway ensures easy access for customers and deliveries.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Wayne
    State
    Kentucky
    Longitude
    -84.843455
    Latitude
    36.8365687

    Comparable in this City

    • $500,000
      4,088 SF

      Monticello Commercial Property on Highway

      Established business on high-traffic highway near lake and tourist attractions.
      1135 S Main St, Monticello, KY 42633
      View Details
    • $350,000
      2,000 SF

      Established Business Opportunity in Monticello

      Profitable business with training included in Monticello, Kentucky.
      1520 N Main St, Monticello, KY 42633
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    • $275,000
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      Turn-Key Retail Space in Monticello

      High-visibility retail space with drive-thru, kitchen, and ample parking.
      576 State Hwy 3106, Monticello, KY 42633
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    • $339,000
      2,580 SF

      Versatile Commercial Building on Highway

      2,580 SF commercial building with high visibility and accessibility.
      2104 Ky-90, Monticello, KY 42633
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    • $329,900
      1.21 Acres

      Historic Storefront Near Mill Springs

      Historic landmark with commercial potential near Mill Springs National Park.
      1748 Old Ml Spg Rd, Monticello, KY 42633
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    • $599,000
      0.98 Acres

      Monticello, KY Commercial Opportunity

      Prime commercial property in a high-traffic area, previously a drive-in.
      54 Access Dr, Monticello, KY 42633
      View Details

    Similar Nearby for Sale

    • $500,000
      4,088 SF

      Monticello Commercial Property on Highway

      Established business on high-traffic highway near lake and tourist attractions.
      1135 S Main St, Monticello, KY 42633
      View Details
    • $350,000
      2,000 SF

      Established Business Opportunity in Monticello

      Profitable business with training included in Monticello, Kentucky.
      1520 N Main St, Monticello, KY 42633
      View Details
    • $275,000
      2,400 SF

      Turn-Key Retail Space in Monticello

      High-visibility retail space with drive-thru, kitchen, and ample parking.
      576 State Hwy 3106, Monticello, KY 42633
      View Details
    • $339,000
      2,580 SF

      Versatile Commercial Building on Highway

      2,580 SF commercial building with high visibility and accessibility.
      2104 Ky-90, Monticello, KY 42633
      View Details
    • $329,900
      1.21 Acres

      Historic Storefront Near Mill Springs

      Historic landmark with commercial potential near Mill Springs National Park.
      1748 Old Ml Spg Rd, Monticello, KY 42633
      View Details
    • $599,000
      0.98 Acres

      Monticello, KY Commercial Opportunity

      Prime commercial property in a high-traffic area, previously a drive-in.
      54 Access Dr, Monticello, KY 42633
      View Details
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    42 Homestead Ln
    Monticello, KY 42633
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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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