# 1 Old Phelps Lane, Morehead, KY 40351 > **TL;DR:** land, $1,000,000. Est. $5,349/mo. Listed 151 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $1,000,000 | | Lot Size | 43,560 sqft (1.00 acres) | | Property Type | Land (Other) | | Status | Active | | Days on Market | 151 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $5,057 | | Estimated Insurance | $292 | | **Total** | **$5,349** | ## Property Highlights - 1.00 acre lot ## Description ### AI Summary This 1.00-acre land property has 0 bedrooms, 0 bathrooms, and no stated square footage. Located in a rural area of Morehead, Kentucky, the lot is described as some of the last acreage available next to I-64, with 550 feet of total frontage on KY 801 North. The acreage has been filled and offers good access from Old Phelps Lane. The property is suited to a range of commercial possibilities, including a restaurant, hotel, and other commercial uses. The listed price is $1,000,000 for one 1-acre lot. Three lots are available at $1,000,000 per lot, providing a defined opportunity for purchasers seeking land near I-64 and along KY 801 North. The property is addressed at 1 Old Phelps Lane, Morehead, KY, and its rural setting offers frontage and access characteristics relevant to commercial planning. No residential layout or building improvements are identified in the provided listing facts. ### Agent Description Some of the last Acreage Available next to I-64 with 550' total frontage on KY 801 North. Price is for 1 Acre Lots - There are 3 Lots Available at $1,000,000.00 per lot. Acreage has been filled and has good access off Old Phelps Lane. Ideal for Restaurant, Hotel and Many other Commercial Uses. ## Location - **Address:** 1 Old Phelps Lane, Morehead, KY 40351 - **County:** Rowan - **Neighborhood:** Rural - **Coordinates:** 38.187122, -83.555858 - **Google Maps:** https://www.google.com/maps?q=38.187122,-83.555858 ## Listing Agent - **Name:** Damon M Ballinger - **Brokerage:** C Roger Lewis Agency - **Phone:** 6067844168 - **Broker Phone:** 6067844168 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/1-Old-Phelps-Rd_Morehead_KY_40351_M98247-59554?f=listhub&s=LBARKY&m=26007928&c=propsimple) ## Photos ![1 Old Phelps Lane - Photo 1](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f2706205483r.jpg) ![1 Old Phelps Lane - Photo 2](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f3810331285r.jpg) ![1 Old Phelps Lane - Photo 3](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f959094981r.jpg) ![1 Old Phelps Lane - Photo 4](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f3882893838r.jpg) ![1 Old Phelps Lane - Photo 5](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f3565378275r.jpg) ![1 Old Phelps Lane - Photo 6](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f160931376r.jpg) ![1 Old Phelps Lane - Photo 7](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f1487293205r.jpg) ![1 Old Phelps Lane - Photo 8](http://lh.rdcpix.com/8ff33290033dad473baeafaf6e3f3df1l-f2931736593r.jpg) --- **MLS#:** 26007928 | **Updated:** 2026-05-31 **Source:** listhub *Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://www.propertysimple.ai/listing/1-old-phelps-lane-morehead-ky-40351-26007928) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/1-old-phelps-lane-morehead-ky-40351-26007928#listing", "url": "https://www.propertysimple.ai/listing/1-old-phelps-lane-morehead-ky-40351-26007928", "name": "1 Old Phelps Lane, Morehead, KY 40351", "description": "This 1.00-acre land property has 0 bedrooms, 0 bathrooms, and no stated square footage. Located in a rural area of Morehead, Kentucky, the lot is described as some of the last acreage available next to I-64, with 550 feet of total frontage on KY 801 North. The acreage has been filled and offers good access from Old Phelps Lane. The property is suited to a range of commercial possibilities, including a restaurant, hotel, and other commercial uses. The listed price is $1,000,000 for one 1-acre lot. Three lots are available at $1,000,000 per lot, providing a defined opportunity for purchasers seeking land near I-64 and along KY 801 North. The property is addressed at 1 Old Phelps Lane, Morehead, KY, and its rural setting offers frontage and access characteristics relevant to commercial planning. 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