About This Home

This 8-bedroom, 6-bathroom multi-family at 213 KY-1232 Highway in Gray, KY is listed for $1,300,000 ($383 per sqft). Built in 1994, the home offers 3,398 sqft of living space on a 48.00 acres lot.

Key Features

  • Built in 1994
  • 48.00 acre lot

Property Details

6 full
1994

Amenities

A/C
Listing Description

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 1,358 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! *****Main Building is 4118 sq ft and holds 2 AirB&B apartments with space for more. Present outside rentals are Farm House 450 sq ft w 12x12 deck, Tiny home is 160 soft with 10x4 covered porch. Dry Camp is 120 sq ft plus 40 sq ft loft space and a 10x4 covered porch. The Owners residence is 1358 sq ft with a 2 car garage 581 sa ft and a 7x14 wing space.

Monthly Cost Estimate

$6,953/mo

20% down · 6.5% · 30 years

Principal$940
Interest$5,633
Insurance$379

Estimates only. Actual payments may vary.

Location

213 KY-1232 Highway

Gray, KY 40734

Rural

Property Details

Heating

Space HeaterHeat Pump (Heating)Forced AirNatural Gas

Cooling

Multi UnitsHeat Pump

Questions & Answers

This 8-bedroom, 6-bathroom multi-family at 213 KY-1232 Highway is listed at $1,300,000 ($383/sqft). The estimated monthly payment is $6,953 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1994, 48.00 acre lot.

This property is listed by Debbie Williams.

DW

Debbie Williams

Agent at Sallie Davidson, Inc.

Listed by Sallie Davidson, Inc. · Broker phone: (606) 877-3000 · View on Broker Site · Broker website

MLS# 26027548· Source: ImagineMLS· 24 days on PropertySimple

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.

213 KY-1232 Highway, Gray, KY 40734

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