213 KY-1232 Highway
Gray, KY, 40734 $ 1,300,000
Bedrooms-- Baths-- Sq 3,398 Monthly Estimate*
$ 8,979
for $1,300,000. This 3,398 square foot building was built in 1994 on a lot size of 48.
SLEEPING TURTLE PAY LAKE & AIR B&B -- A TURNKEY BUSINESS WITH ROOM TO GROW! 213 KY 1232, Gray, KY 40734. Boasting 48 acres here is an extraordinary opportunity to Work from Home with Sleeping Turtle Air B&B with Pay Lake, an established recreational and hospitality destination situated on approximately 48 acres in the Gray, Kentucky area. This unique property combines income-producing lodging, recreational opportunities, a lake business, retail potential, and a comfortable owner's residence--all in one package! The property features One large pay lake and 2 additional private ponds, creating an incredible setting for fishing, relaxation, meditation garden, outdoor recreation, and future expansion. Five existing Air B&B units provide an immediate lodging component and the opportunity to generate income while continuing to develop the property into a premier destination getaway. Bait shop/store and eatery space, providing the foundation for a one-stop destination serving guests, fishermen, campers, hikers, and visitors from the surrounding area. With the right vision, there is tremendous potential to expand the lodging, recreational amenities, food service, events, camping opportunities, and other income-producing uses. The property also includes an approximately 1,200 square-foot owner's home offering 3 bedrooms and 2 baths--ideal for an owner/operator who wants to live on-site and be close to the business. Approximately 30 acres are wooded, providing a beautiful natural backdrop and excellent opportunities for hiking, hunting, wildlife watching, and outdoor recreation. The combination of ponds, woods, lodging, and commercial facilities creates a property with a rare mix of recreational appeal and business potential. Whether you're looking for an established recreational business, an investment property, a family-operated destination, or a property with significant room for expansion, Sleeping Turtle Pay Lake deserves a serious look. 48± ACRES | 3 PONDS | 5 AIR B&B UNITS | BAIT SHOP/STORE | EATERY |1358 SQ. FT. OWNER'S HOME | 3 BR | 2 BA | 30± WOODED ACRES | HIKING | HUNTING | EXPANSION POTENTIAL Offered at $1,300,000. Opportunities like this don't come along often--a property where you can live, work, entertain, generate income, and continue building the vision. Bring your entrepreneurial spirit and make Sleeping Turtle Pay Lake your next great investment!
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FeaturesGeneralHeating Forced Air Heat Pump Natural Gas Space Heater
Cooling Heat Pump Multi Units
Utilities Electricity Available Natural Gas Available Phone Available Sewer Not Available Water Available
Year Built 1994
Property Subtype Business
Parcel Number 055-00-00-007.00 055-00-00-007.01
Business Type Restaurant Recreation Mixed Hotel/Motel Food & Beverage
County Knox
New Construction N
Property Type Business Opportunity
Subdivision Name Rural
Status Active
Directions Travel from I-75 to Cumberland Gap Highway between Corbin and Barbourville turn onto 1232 and property is on left. Address will get you there.
City Gray
MLS Area 067 - Knox County
Lot Size Units Acres
Lot Size Square Feet 2090880.0
Land Lease Y/N N
MLS Area Minor 067 - Knox County
Leasable Area 0.0
Lease Considered Y/N N
Rent Control Y/N N
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Senior Community None
Water Body Access Y/N None
Accessibility Features Y/N None
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ExteriorLot Size Area 48.0
Building Area Total 4118.0
Lot Size Acres 48.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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InteriorAir Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
Heating-Heat Pump True
Heating-Forced Air True
Heating-Natural Gas True
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* Excluded FeaturesList BySallie Davidson, RealtorsBroker
djwilliams.ky@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $8,979
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% 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 NearbyCommerical listings in Gray, KY
Average List Price $1,300,000
Percent of Sale Price 0%
About Gray, KY 3,564 Population
-7% Since 2002
$ 28,234 Median Income
40.84 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
458656 Elementary School
458772 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/6/2026 | $1,300,000 | | Listed Price |