213 KY-1232 Highway, Gray, KY 40734 (MLS# 26027548)

213 KY-1232 Highway, Gray, KY 40734

$1,300,000

Structure near pond and perfect for Bait Shop, Supplies, Also a Kitchen code approved but not for Deep Frying.

Additional View of Bait shop, showing 2 units of the AirB&B in this building

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Property Type: Residential Income Bedrooms: 8 Baths: 6 Square Footage: 3,398 Lot Size (sq. ft.): 2,090,880 Status: Active

Current Price: $1,300,000 List Date: 10/05/2026 Last Modified: 10/13/2026

Overview

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, fishe ... (Read more) 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 | 30Â± 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.

Listing Details MLS# 26027548

Listing Information

Comp Sale YN: No
Property Sub Type: Apartment

Status Change Information

Status Change Timestamp: 2026-10-05

Address

County: Knox
Street Number: 213
Street Name: KY-1232
Street Suffix: Highway
State: KY
Zip Code: 40734
Inside City Limits YN: No
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.
Parcel Number: 055-00-00-007.00 055-00-00-007.01
Deed Book: 454
Deed Page: 209

Contract

Original List Price: 1300000
Start Showing Date: 2026-10-05
Listing Contract Date: 2026-10-03
Listing Agreement: Exclusive Right To Sell
Occupant Type: Occupied
Office Exclusive YN: No
List Price/Acre: 27083.33
List Price/SqFt: 382.58

Tax Legal

MLS Area Major: 067 - Knox County
Subdivision Name: Rural
High School District: Knox County - 67

Interior

Bedrooms Total: 8
Bathrooms Total: 6
Bathrooms Full: 6
Living Area: 3398
Living Area Source: Listing Agent Measured

More Information

Building

Year Built: 1994
Accessibility Features YN: No

Lot

Lot Size Acres: 48
Lot Size Square Feet: 2090880

Utilities

Cooling YN: Yes
Heating YN: Yes

Remarks

Public Remarks: 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 | 30Â± 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.

Showing Information

Showing Instructions: Owner will need notice. This is a active business with 5 Air B&B units plus residence and Storefront Eatery

Property Features

Utilities: Electricity Available; Natural Gas Available; Phone Available; Sewer Not Available; Water Available; Electricity Available; Natural Gas Available; Phone Available; Sewer Not Available; Water Available Cooling: Heat Pump; Multi Units Heating: Forced Air; Heat Pump; Natural Gas; Space Heater Laundry Features: Common Area; Electric Dryer Hookup; Main Level; Washer Hookup Parking Features: Gravel; On Site Possession: Close Of Escrow Roof: Shingle Structure Type: Other Showing Requirements: Restricted Hours; Showing Service

Documents

Sellers Disclosure Of Property Condition ›

Listing Office: Sallie Davidson, Realtors

Last Updated: October - 13 - 2026

Information deemed reliable but not guaranteed.

Berea, Ky

Mon - FRI: 9am to 4pm

213 KY-1232 Highway, Gray, KY 40734 (MLS# 26027548)