PADUCAH, KY--(Marketwired - Jul 12, 2013) - A 30-acre peninsula located by Western Kentucky's Land Between the Lakes will sell at a real estate auction on July 25. The property, which will be offered through J. P. King Auction Company, features 5,000 linear feet of shoreline on Lake Barkley, giving it potential for a range of developments.
The Peninsula at Lake Barkley sits two miles east of the canal that enters Kentucky Lake, across from Land Between the Lakes, putting it in the middle of a tourist destination that draws five million visitors to Western Kentucky each year. With quick access to I-24, The Peninsula at Lake Barkley is appropriate for a waterfront, single-family development, and, with appropriate approvals, a condominium development, marina and restaurant or other commercial uses.
Carla DeVillez grew up on the peninsula with her family, who has owned the property since the 1950s, when her grandfather purchased it -- "before there was a lake there," Ms. DeVillez said. Her parents, Jim and Dolores DeVillez met on the property when they were young and Dolores was visiting with her family. They worked and lived on the peninsula until a few years ago.
"The property is incredibly special to all of us, but especially to them. It really has been their life's work," she said. Ms. DeVillez recalled the "perfect childhood" she and her brother shared waterskiing, fishing and playing every sport they could imagine, surrounded by their family.
"To me, it is the best spot on the lake. It's absolutely gorgeous," Ms. DeVillez said. The peninsula's point has a good elevation, and it has 180-degree views. However the buyer chooses to develop it, it'll be a great opportunity for them because the location is the best of the best."
The peninsula will be offered in four parcels. The first parcel is 10 waterfront acres at the entrance of the peninsula. Parcel 2 includes the 12 acres at the peninsula's tip, while the third parcel features six and a half waterfront acres to the southwest. Parcel 4 includes two acres in the Bayview Subdivision that adjoins the peninsula. Several portions of Parcels 1-3 are permissible for boat docks.
"The Lake Barkley Peninsula has great development potential. With Lake Barkley on one side and a protected deep water bay on the other, this is a perfect for having more private and calm water frontage with the convenience of Kentucky Lake right beside you," said Craig King, president and CEO of J. P. King Auction Company.
Also known as Tarry-on-Too, the property has been family owned since the 1950s and is near several other developments, including the Moon Bay Harbor Resort, Green Turtle Bay and Marina Village. In a dry county, it is also permitted for alcohol sales.
The auction will take place on Thursday, July 25 at 11 a.m. at the property, which is located at 505 Tarryon Too Drive in Kuttawa, Kentucky. Auction representative will be available at the property on July 19, 20, 21 and 24. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.
About J. P. King: J. P. King Auction Company specializes in high-value properties such as luxury homes, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Wyoming, Georgia, Florida and Washington.