160 Acres of Development Land - Richmond

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 30855260
Property Subtypes: Residential (Single Family)
Status: Pending
Gross Land Area: 160 Acres
Sale Price: $2,400,000
Unit Price: $15,000 Per Acre
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 5/24/2024

Overview / Comments

We are pleased to bring to market 160 acres of development land in Richmond, KY.
This Madison County, KY site has agriculture zoning on Boonesborough Road but potential for mixed use Development with a Zone change to partial Commercial frontage and a mix of Multifamily, and Residential uses to the rear of the property.
The total site is approximately 240 acres, but the family will be keeping approximately 80 acres to keep for their existing residences behind Boonesborough Elementary which was parceled out for development several years ago.
The site is well situated being approximately 5 minutes from I-75 Exit 95 and 20 minutes to Richmond, Hamburg (Lexington), and Winchester on U.S. 627.

160 Acres of Development Land - Richmond
Mixed Use potential, Commercial, Residential
Easy access to I-75, Richmond, Lexington and Winchester
Madison County Property and Re- Zoning required

Additional Details

Nearest MSA: Richmond-Berea
County: Madison
Tax ID/APN: 0052-0000-0008
Zoning: UC-7, R-7
Property Located Between: Richmond, Hamburg (Lexington), and Winchester on U.S. 627
Highway Access: 5 minutes from I-75 Exit 95
Area Description: Richmond is centrally located and is south of Lexington on the I-75 corridor. Richmond is one of the fastest growing areas in Kentucky. Several identifiable factors contribute to this growth, such as easy interstate access, proximity to Lexington, lower cost of housing, good employment base, regional university, and cultural and educational opportunities. Richmond tied for the 30th in the Top Micropolitans in the nation for new and expanded industry activity in 2010. The City of Richmond is currently the 7th most populous in Kentucky, up from 11th largest in the 2000 census and is the home of Eastern Kentucky University with approximately 17,000 students. Historic downtown Richmond is one of the finest 19th century commercial districts in the Southeast and is a unique blend of small town warmth and friendliness while still having access to the advantages of a big city.

View FullscreenMap

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,444 12,331
Median Age: 39.57 38.47
Households: 1,997 4,875
© Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions.