Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Lakewood, Vincennes Title is generated by Realmo AI

    Lot 1 Lakewood, Vincennes, IN 47591

    View on Map
    Claim this Listing
    For Sale
    $55,000

    Residential Land - Vincennes, IN

    Lot size:
    1.25 Acres
    Added:
    Feb 3, 2012
    Days on Market:
    5219
    Last Refresh:
    May 19 at 6:06 pm

    Property Features for Lot 1 Lakewood

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Res
    Standard status
    Active
    APN
    42-12-23-101-018.000-022
    Lot size
    1.25 Acres

    Taxes and HOA fees

    Tax Annual Amount
    72.96
    Expense value
    225
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Heath Klein
    Heath Klein

    Listing agent Heath Klein License #RB14031758

    Listing office KLEIN RLTY&AUCTION, INC. 505 N 6th St, Vincennes, IN

    Listing date Feb 3, 2012

    MLS# 48272 Listing URL

    Copyright © 2026 Southwest Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • One of the largest building lots remaining in Lakewood.
    • Ability to accommodate a walk‑out lower level.
    • Private lot.
    • City services including water, sewers, and trash removal.
    • Conveniently located between area golf courses.
    • All underground utilities.

    Overview

    This residential land is located in Lakewood, Vincennes, IN. The lot size is 1.25 acres. The property benefits from city services, including water, sewers, and trash removal. The area features curbed streets, rolling hills, mature wooded lots, and lighted streets. All utilities are underground. The location is conveniently situated between area golf courses. This is the first building lot as you enter Lakewood and is one of the largest lots left. It offers many options for building a home and is able to accommodate a walk-out lower level.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vincennes
    County
    Knox
    State
    Indiana
    Longitude
    -87.487595
    Latitude
    38.685305

    Nearby Similar for Sale

    • $275,000

      Versatile Industrial Property in Vincennes

      Two buildings with office, warehouse, and garage space for sale.
      717 N 2nd Street, Vincennes, IN 47591
      View Details
    • $139,900

      Auto Dealer Opportunity, Vincennes, IN

      Car lot/shop in high traffic area with ample parking.
      1221 Washington Avenue, Vincennes, IN 47591
      View Details
    • $299,900

      Operating Kennel Business For Sale

      Actively operating kennel business with 20 dog kennels.
      433 S Hickory Corner Road, Vincennes, IN 47591
      View Details
    • $289,900
      2,402 SF

      Vincennes Investment Opportunity

      Remodeled units with potential for various uses.
      1904 Washington Avenue, Vincennes, IN 47591
      View Details
    • $194,900

      Downtown Vincennes Mixed-Use Building

      Two-story commercial building in historic downtown Vincennes.
      423 Main Street, Vincennes, IN 47591
      View Details
    • $129,900

      Vincennes Commercial Land Opportunity

      Prime commercial land with utilities in place for development.
      1.057 Acres on S 15th Street, Vincennes, IN 47591
      View Details
    • $229,900

      Mixed-Use Property in Vincennes, IN

      Mixed-use property featuring shop, warehouse, and office space with expansion potential.
      1985 S Old US 41, Vincennes, IN 47591
      View Details
    • $700,000

      Vincennes Land with Development Potential

      7 acres of land suitable for residential or commercial development.
      7 Acres Bierhaus Boulevard, Vincennes, IN 47591
      View Details
    • $170,000

      Downtown Vincennes Mixed-Use Building

      Versatile commercial property with retail and rental income potential.
      118 A N 2nd Street, Vincennes, IN 47591
      View Details
    • $480,000

      Vincennes Commercial Development Opportunity

      3.28-acre commercial development site in Vincennes, Indiana.
      3.28 Acres Hart Street, Vincennes, IN 47591
      View Details
    • $555,000

      Historic Mixed-Use Building in Vincennes

      Multifunctional building with bar, dining, and potential apartment.
      101 N 2nd Street, Vincennes, IN 47591
      View Details
    • $3,120,000

      Vincennes Commercial Property For Sale

      17,000 Sq Ft building with long-term government tenant.
      2300 Willow Street, Vincennes, IN 47591
      View Details

    FAQs

    What type of property is this?
    Land - Residential land with city services and mature wooded lots.
    Where is this land located?
    The property is located at Lot 1 Lakewood Vincennes, IN.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: One of the largest building lots remaining in Lakewood.; Ability to accommodate a walk‑out lower level.; Private lot.
    (812) 291-2202
    We can help!
    Listing Contact
    Heath Klein
    Heath Klein
    Real Estate License ID: RB14031758
    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

    Thank You for Inquiry
    Lot 1 Lakewood, Vincennes, IN 47591
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!