213 KY-1232 Highway, Gray, KY 40734 (MLS# 26027649)

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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Aeriel View Main Building houses Bait Shop, Eatery, 2 of the 5 B&B units plus Storage and potential for more units.

For those that prefer primitive lifestyle.

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Walk out to pond from main level B&B unit

Upstairs B&B has 2 BR,LR, Kitchen, Walk out Balcony overlooking Pay Lake

Additional Storage at back of Main Building

Covered porch to shoot the breeze while others fish

Grab a Stool and enjoy a quick bite to eat .

Stainless hood over the grill area behind the bar.

All outside units have a grill and pit for evening enjoyment

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So relaxing from either level of the two units in the main building

Owner unit building serves 2 purposes. Storage and Dog house .

Owner unit Back yard w Dog house and run space.

Property Type: Business Opportunity Square Footage: 4,118 Lot Size (sq. ft.): 2,090,880 Status: Active

Current Price: $1,300,000 List Date: 10/06/2026 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 1,200 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. 48Â± 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!

Listing Details MLS# 26027649

Listing Information

Comp Sale YN: No
Property Sub Type: Business

Status Change Information

Status Change Timestamp: 2026-10-06

Address

County: Knox
Street Number: 213
Street Name: KY-1232
Street Suffix: Highway
State: KY
Zip Code: 40734
Inside City Limits YN: No
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: 2026-10-06
Listing Contract Date: 2026-10-03
Listing Agreement: Exclusive Right To Sell
Occupant Type: Occupied
Office Exclusive YN: No
List Price/Acre: 27083.33

Tax Legal

MLS Area Major: 067 - Knox County
Subdivision Name: Rural

Building

Living Area: 3398
Living Area Units: Square Feet
Living Area Source: Public Records
Building Area Total: 4118
Building Area Source: Assessor
Building Area Units: Square Feet
Year Built: 1994

More Information

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 1,200 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. 48Â± 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!

Building and Property Details

Furniture, Fixtures & Equipment YN: Yes
Building Expansion Potential YN: Yes
Inground Tank YN: Yes

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 Business Type: Food & Beverage; Hotel/Motel; Mixed; Recreation; Restaurant Cooling: Heat Pump; Multi Units Heating: Forced Air; Heat Pump; Natural Gas; Space Heater Sale Or Lease Includes: Building(s); Business; Equipment; Fixtures; Furniture; Inventory; Land Showing Requirements: Restricted Hours; Showing Service

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# 26027649)