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

    3548 W County Road 500 N Frankfort, IN 46041

    Sponsored
    For Sale
    $1,100,000

    Other/Unknown - Frankfort, IN

    Property size:
    5,600 SF
    Lot size:
    7.90 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 7 at 1:06 am

    Property Features for 3548 W County Road 500 N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    12-06-07-377-001.001-015
    Interior features
    Other, Handicap Access
    Exterior features
    Handicap Access
    Accessibility
    Accessible Approach with Ramp
    Size
    5,600 SF
    Lot size
    7.90 Acres

    Utilities

    Heating system
    Propane (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2019
    Floors in Building
    1
    Flooring type
    Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Emily Dunn

    The Real Estate Agency (765) 838-1707

    Listing agent Emily Dunn (765) 838-1707 License #RB18001737

    Listing date Feb 6, 2026

    MLS# 202603808 Listing URL

    Copyright © 2026 Lafayette Regional 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.

    Learn more

    Property Insight Report

    Overview

    Turnkey Event Venue on 8 Acres

    This nearly 8-acre property features a fully built-out, turnkey event venue with approximately 5,600 square feet of indoor space, accommodating up to 294 guests. Designed for high-volume professional events, the layout facilitates smooth transitions between ceremonies, receptions, catering, and support operations. The property includes a transferable 3-way liquor license, enhancing revenue potential. Operational infrastructure is supported by a prep kitchen, heavy electrical wiring suitable for professional DJ and AV equipment, and an overbuilt septic system engineered for event capacity. An outdoor patio with gas heating extends seasonal usability, and two paved parking lots with handicap accessibility provide convenient on-site parking. Event furnishings and supplies, including tables, chairs, dishware, and linens, may be included with the right offer. Located approximately 30 minutes from Lafayette and 50 minutes from northern Indianapolis, the property offers accessibility and privacy, making it suitable for destination weddings, corporate events, retreats, and private celebrations. The building can also accommodate alternative commercial applications such as a church, private club, conference center, showroom, or dealership. This property presents a rare opportunity to acquire a high-capacity, professionally designed venue with strong infrastructure, zoning potential, and immediate usability. The sale includes real estate and improvements only.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Silver Coin Wedding ... Wedding Service

    Suggested Use

    Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Clinton
    State
    Indiana
    Longitude
    -86.572735087311
    Latitude
    40.358920350808

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    FAQs

    What type of property is this?
    Wedding venue - High-capacity event venue near Lafayette and Indianapolis.
    Where is this wedding venue located?
    The property is located at 3548 W County Road 500 N Frankfort, IN.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Turnkey event venue with **5,600 sq ft indoor space** and 294-guest capacity.; - Transferable 3-way liquor license included.; - Heavy electrical wiring, prep kitchen, and overbuilt septic system for high-volume events.
    (765) 838-1707
    Request Owner's contact information
    3548 W County Road 500 N Frankfort, IN 46041
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    Frankfort, IN 46041
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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
    3548 W County Road 500 N Frankfort, IN 46041
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    We can help!
    Listing Contact
    Emily Dunn
    Real Estate License ID: RB18001737
    (765) 838-1707
    Learn more
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