Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    0 N Summerhill Drive Albany, IN 47320

    View on Map
    For Sale
    $37,000

    Residential Lots - Albany, IN

    Lot size:
    0.93 Acres
    Added:
    Feb 12, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 1 at 2:06 am

    Property Features for 0 N Summerhill Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Rural Residential
    Standard status
    Active
    APN
    180433401002000018
    Lot size
    0.93 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jonathan Greene

    Listing agent Jonathan Greene License #RB23001179

    Listing office RE/MAX Real Estate Solutions E. 53rd St, IN

    Listing date Feb 12, 2026

    MLS# 22083658 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wooded Lot in Albany, IN

    Located just outside Albany, Indiana, this wooded lot offers a country setting on a private dead end lane. The property, zoned as Rural Residential, spans 0.93 acres and features over 200 feet of road frontage. The rolling hills are suitable for a walkout basement and offer views full of wildlife. The property is located off N Summerhill Drive.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Albany
    County
    Delaware
    State
    Indiana
    Longitude
    -85.279547
    Latitude
    40.308971

    Nearby Similar for Sale

    • $650,000
      2,367 SF

      Historic Farm with River Access

      Historic home on 41 acres with river access.
      9850 N Reynard Road, Albany, IN 47320
      View Details
    • $650,000
      2,367 SF

      Historic Home with River Access

      Historic home on 41 acres with river access.
      9850 N Reynard Road, Albany, IN 47320
      View Details
    • $37,000

      Wooded Lot in Albany, Indiana

      Residential land in a peaceful country setting near Albany.
      0 N Summerhill Drive, Albany, IN 47320
      View Details
    • $225,000

      Albany Land with Development Potential

      20.52 acre lot ideal for building or development.
      SR 167, Albany, IN 47320
      View Details
    • Contact for pricing
      46,862 SF

      Albany Office Building For Sale

      Office building with 46,862 square feet of space.
      5440 East County Road 450 North, Albany, IN, 47320
      View Details
    • $249,900

      Medical Office Building For Sale

      Medical office building with additional parking lot in Albany, Indiana.
      349 W 1st St, Albany, IN
      View Details
    • $60,000

      Commercial Land in Albany, Indiana

      Land for sale in Albany, Indiana.
      927 W Walnut Street, Albany, IN 47320
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Wooded 0.93 acre lot in a peaceful country setting.
    Where is this residential land & home lot located?
    The property is located at 0 N Summerhill Drive Albany, IN.
    What is the asking price?
    The asking price for this property is $37,000.
    What are key features of this property?
    This property features: Over 200 feet of road frontage provides ample space and potential for development.; Peaceful, private country setting on a dead‑end lane offers tranquility.; Prime location just outside Albany provides convenient access to city amenities.
    (765) 640-1900
    We can help!
    Listing Contact
    Jonathan Greene
    Real Estate License ID: RB23001179
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!