NOT LISTED FOR SALE

7541 Georgetown Rd Georgetown, KY 40324

Estimated Value: $88,000 - $9,765,108

3 Beds
2 Baths
-- Sq Ft
525.52 Acres

Last Sold September 01, 2023

Last sale price $10,000,000

Est. 50% decrease in value since last sale

Current estimated payment $27,664/month

504 Days on Market

Highlights

  • 44 Paddocks and Pastures
  • 525.52 Acre Lot
  • Horse or Livestock Barn
  • 105 Horse Stalls
  • Wooded Lot
  • The pond is a source of water for the property

About This Home

As of September 2023

Erhaab Stud, formerly known as Elko Bell Farm, is historically known as the most fertile & productive land in Scott/Franklin Counties. Shadwell Farm purchased this farm in 1999 because the land is of the highest quality and developed it into one of the most coveted Thoroughbred nurseries in Central KY. You enter this magnificent farm via an impressive gated stone entrance and travel over 4 miles of paved roads along its tree-lined driveways to its vast and quality improvements. Horse improvements include 9 concrete block barns with 105 stalls, 6 concrete block run-in sheds. Additional improvements include a shop/paint bldg & equip shed. Housing includes a c.1870s 5,900 SF home (used as office) and 4 employee houses. Bordered by the S. Elkhorn Creek, Erhaab Stud is as aesthetically pleasing as it is functional.

Last Agent to Sell the Property

Bill Justice

Justice Real Estate License #223731 Listed on: 03/16/2022

Co-Listed By

Allen Kershaw

Justice Real Estate License #217369

Last Buyer's Agent

Lyndsey Martin

Indigo & Co

Property Details

Property Type

  • Other

Lot Details

  • 525.52 Acre Lot
  • Plank Fence
  • Fenced
  • Gentle Sloping Lot
  • Cleared Lot
  • Wooded Lot
  • Property is zoned AR

Home Design

  • Farm

Farming

  • Horse or Livestock Barn
  • Equipment Barn

Horse Facilities and Amenities

  • 105 Horse Stalls
  • Hay Storage
  • Run-In Shed

Utilities

  • Propane
  • The pond is a source of water for the property
  • The stream is a source of water for the property
  • The lake is a source of water for the property
  • Septic Tank
  • Phone Available

Additional Features

  • 44 Paddocks and Pastures
  • In Flood Plain

Community Details

  • Rural Subdivision

Listing and Financial Details

  • Assessor Parcel Number 111-00-00-010.00

Property Details

Property Type

Other

Lot Details

0

Listing Details

  • Property Type: Farm
  • Property Sub-Type: Farm
  • New Construction: No
  • Water Source:Public: Yes
  • Farm Improvements:Run In Shed(s): Yes
  • Water Source:Lake(s): Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Lot Size Area: 525.52
  • Possible Use: Horses

Exterior Features

  • Disclosures: Inground Tank(s)
  • Fencing: Plank
  • List Price: 11500000.0
  • Lot Features: Wooded, Bottomland, Cleared, Floodplain, Gentle Sloping
  • Lot Features:Wooded: Yes

Utilities

  • Sewer: Septic Tank
  • Utilities: Electricity Connected, Phone Available, Propane Connected, Water Connected
  • Water Source: Public, Creek(s), Lake(s), Pond(s)
  • Sewer Septic Tank: Yes

Lot Info

  • Topography: Gentle Sloping, Wooded, Cleared
  • Lot Dimensions: 525.52 Acres
  • Current Use: Horses, Cattle
  • Horse Amenities: Hay Storage, Barn
  • Lot Size Acres: 525.52
  • Lot Size Sq Ft: 22891651.0
  • Parcel Number: 111-00-00-010.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 16, 2022
Closed on
Sep 1, 2023
Sold by
Shadwell Farm Llc
Bought by
Armitage Farm Llc
Seller's Agent
Bill Justice
Justice Real Estate
Buyer's Agent
Lyndsey Martin
Indigo & Co
List Price
$12,000,000
Sold Price
$10,000,000
Premium/Discount to List
-$2,000,000
-16.67%
Views
417
Current Estimated Value
$4,968,485

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$5,031,515
Avg. Annual Appreciation
-26.40%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Armitage Farm Llc $10,000,000 Precise Title
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/01/2023 09/01/23 Sold $10,000,000 -13.0% --
08/03/2023 08/03/23 Pending -- -- --
03/10/2023 03/10/23 Price Changed $11,500,000 -4.2% --
03/16/2022 03/16/22 For Sale $12,000,000 -- --
Source: ImagineMLS (Bluegrass REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $18,656 $1,557,270 $0 $0
2024 $18,796 $1,557,270 $0 $0
2023 $49,890 $4,174,903 $0 $0
2022 $49,431 $4,174,903 $0 $0
2021 $49,035 $4,174,903 $0 $0
2020 $49,478 $4,174,903 $244,903 $3,930,000
2019 $50,515 $4,174,903 $244,903 $3,930,000
2018 $49,986 $4,141,885 $221,885 $3,920,000
2017 -- $4,075,342 $155,342 $3,920,000
2016 $46,479 $4,075,342 $155,342 $3,920,000
2015 $40,672 $4,075,342 $155,342 $3,920,000
2011 $40,672 $4,075,342 $155,342 $3,920,000
Source: Public Records

Agents Affiliated with this Home

  • Bill Justice

    Seller's Agent in 2023

    Bill Justice

    Justice Real Estate

    (859) 255-3657

    66 Total Sales

    Bill Justice
    Section Image
  • Allen Kershaw

    Seller Co-Listing Agent in 2023

    Allen Kershaw

    Justice Real Estate

    (859) 333-2901

    14 Total Sales

    Allen Kershaw
    Section Image

  • L

    Buyer's Agent in 2023

    Lyndsey Martin

    Indigo & Co

See All Agents

Map

Source: ImagineMLS (Bluegrass REALTORS®)

MLS Number: 22004730

ImagineMLS (Bluegrass REALTORS®)

APN: 111-00-00-010.00

Kentucky Franklin County Georgetown 40324

7541 Georgetown Rd, Georgetown, KY

Not Listed for Sale

Other

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