200 Old Phelps Lane
Morehead, KY, 40351 $ 889,000
Baths0.0 Monthly Estimate*
$ 5,613
Studio for $889,000. The lot size is 6.5.
This 6.5-acre commercial property off I-64 at exit 133 is competitively priced, partially cleared, and ready for excavation. With over 400 feet of road frontage, it ensures excellent visibility. Situated in one of Kentucky's fastest-growing areas, the site links the interstate to Cave Run Lake and Daniel Boone National Forest. Nearby amenities include AppHarvest Greenhouse, Rowan County Airport, National Guard Readiness Center, and Maysville Community College. Recent investments, such as Eastern Light Distilling's 140 million project, showcase the area's growth, alongside upcoming developments like Liberty Mart and Hog's Trough Barbecue Restaurant. 6.5-acre commercial property, conveniently located just off I-64 at exit 133. Priced competitively, this parcel is partially cleared and ready for excavation, making it an ideal investment for savvy developers and business owners. Strategic Location: Directly accessible from I64, ensuring high traffic exposure and easy access for customers and clients. Flexible Zoning: The property benefits from flexible zoning, allowing for a wide range of commercial uses, from retail and office space to service-oriented businesses. 400 Feet of Road Frontage: Significant road frontage enhances visibility, making it an attractive option for businesses seeking to maximize exposure to passing traffic. Potential for Subdivision: The owners may be willing to subdivide the property, providing flexibility for smaller developments or partnerships. Partially Cleared: The site is already partially cleared, reducing preparation time and costs for potential buyers. With flexible zoning, this property is primed for a variety of commercial endeavors—whether you envision a healthcare facility, an office complex, multifamily housing, or another innovative project, the possibilities are endless. *Some Photos are AI renders to inspire vision.
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FeaturesGeneralUtilities Electricity Available Sewer Available Water Available
Zoning R-1T
Topography Gentle Sloping Wooded
Property Subtype Unimproved Land
Current Use Vacant
Parcel Number 019-0000003.00
County Rowan
New Construction N
Property Type Land
Subdivision Name Rural
Possible Use Professional Residential Pasture Industrial Commercial Agricultural
Status Active
Directions Off of I64 Take Exit 133. Turn left off the exit ramp and take the first right onto Old Phelps Road. Property is on the left (partially cleared and partially wooded
City Morehead
Zoning Description Flexible
MLS Area 061 - Rowan County
Lot Size Units Acres
Lot Size Square Feet 283140
Land Lease Y/N N
MLS Area Minor 061 - Rowan County
Additional Parcels Y/N false
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Senior Community None
Water Body Access Y/N None
Accessibility Features Y/N None
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ExteriorLot Features Wooded Gentle Sloping Irregular Lot
Lot Size Area 6.5
Lot Dimensions Irregular
Lot Size Acres 6.5
Number of Lots 1
Crops Included Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList Bytamarahurst@simplihom.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $5,613
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyLots and land listings in Morehead, KY
Average List Price $636,560
Percent of Sale Price 28%
About Morehead, KY 7,341 Population
24% Since 2002
$ 32,952 Median Income
25.14 Median Age
20% Households with Children
Trends Information provided by ATTOM Data Solutions.
0 Elementary School
0 Middle School
Pricing History| Date | Price | Price Change | Description |
|---|
| 4/17/2026 | $889,000 | -5.32% | Price Down |
| 3/2/2026 | $939,000 | -5.06% | Price Down |
| 9/13/2025 | $989,000 | | Listed Price |