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    The Largest CRE Database in the US with Over 1 Million Listings

    10747 East State Road 356 Lexington, IN 47138

    Sponsored
    For Sale
    $1,399,000

    Farm/Estate - Lexington, IN

    Type:Farm
    Property size:
    2,314 SF
    Lot size:
    124.00 Acres
    Days on Market:
    23
    Last Refresh:
    Feb 7 at 2:06 pm

    Property Features for 10747 East State Road 356

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Family Room, Living Room
    Bedrooms
    3
    Bathrooms
    2
    APN
    72-06-25-100-001.000-005
    Parking features
    Garage
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Microwave, Refrigerator, Washer
    Size
    2,314 SF
    Lot size
    124.00 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s)
    Cooling system
    Central Air

    Building Details

    Year built
    1860
    Year renovated
    1860
    Floors in Building
    2
    Flooring type
    Hardwood, Tile
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Haubry

    GesWein Farm & Land Realty (765) 427-1619

    Listing agent Robert Haubry (765) 426-6666

    Listing date Jan 16, 2026

    MLS# 11572917 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Lexington Farm Estate with Income

    This 124-acre farm features CRP income-producing acres, tillable crop ground, and a remodeled brick home dating back to the 1860s. The property includes an 1860's brick home, built with bricks sourced from the land. The north fields are enrolled in the CRP Program, promoting pollinator habitats. The middle section of the north field is used for hay cutting, and the timber in this area has remained unharvested for over 25 years. South fields across the highway consist of productive creek valley crop fields. An older post and beam barn, constructed in 1900, features hand-hewn log beams with wooden pegs and a bank barn design with a lower level for livestock feeding. A farm pond is located directly behind the barn. The house has 2314 square feet of living space. The family room was added in 1970. The second story retains the original hardwood floors, while the first floor has been remodeled with new hardwood floors, a kitchen, a bath, and a family room. A carport at the back of the house overlooks a rock and flower garden. The property offers potential for a family homestead, an Air B&B, or a bed and breakfast.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Map

    City
    Lexington
    County
    Scott
    State
    Indiana
    Longitude
    -85.575847
    Latitude
    38.673908

    FAQs

    What type of property is this?
    Farm - 124-acre farm with remodeled home, CRP income, and tillable land.
    Where is this farm located?
    The property is located at 10747 East State Road 356 Lexington, IN.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: - Income-producing 124-acre farm with CRP acres and tillable crop ground.; - Remodeled 1860's brick home with historical significance.; - Includes a post and beam barn built in 1900 with hand-hewn log beams.
    (812) 525-8998
    Request Owner's contact information
    10747 East State Road 356 Lexington, IN 47138
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    Lexington, IN 47138
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    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
    10747 East State Road 356 Lexington, IN 47138
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    We can help!
    Listing Contact
    Robert Haubry
    (812) 525-8998
    Learn more
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