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

    445 W Prancer Drive, Santa Claus, IN 47579

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Residential Land - Santa Claus, IN

    Lot size:
    0.32 Acres
    Added:
    Apr 17, 2025
    Days on Market:
    414
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 445 W Prancer Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    74-05-02-302-025.000-005
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Annual Amount
    38.66

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kari Schaefer
    Kari Schaefer

    Listing agent Kari Schaefer License #RB18001903

    Listing office Key Associates Signature Realty PO BOX 38, Santa Claus, IN

    Listing date Apr 17, 2025

    MLS# 202513274 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

    • Access to 3 lakes for boating, fishing, and water skiing.
    • Located in Christmas Lake Village, a gated community with numerous amenities.
    • Near the Recreation Center with a beach/swimming area and beach volleyball.
    • Multiple parks with basketball, tennis, and pickle ball courts.
    • Close proximity to local attractions.
    • Optional access to a golf course, pro shop, country club, pool, and restaurant (additional cost).

    Overview

    This residential land is located in Santa Claus, Indiana, within Christmas Lake Village. The property offers access to community amenities, including three lakes—Christmas Lake, Lake Holly, and Lake Noel—spanning over 230 acres, suitable for boating, fishing, and water skiing. Near the Recreation Center, residents can enjoy a beach and swimming area with a diving board, as well as beach volleyball. Multiple parks within the gated community feature basketball courts, a tennis court, pickle ball courts, swings, jungle gyms, and shelter houses. Additional amenities available for a separate fee include a golf course, pro shop, country club, pool, and restaurant. The surrounding area offers attractions such as Holiday World, Lake Rudolph, Santa Claus Museum, Santa's Candy Castle, Lincoln Boyhood National Park, and Lincoln State Park. The lot size is approximately 0.319 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Gym & Fitness Center Skin Care Clinic Accounting Firm Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Claus
    County
    Spencer
    State
    Indiana
    Longitude
    -86.9353
    Latitude
    38.1137

    Nearby Similar for Sale

    • $4,500

      Wooded Lot in Christmas Lake Village

      Residential lot in a lakeside community near Holiday World.
      358 W Evergreen N Plaza, Santa Claus, IN 47579
      View Details
    • $6,600

      Lake View Residential Land

      Buildable lot in Santa Claus, Indiana, near Christmas Lake Village.
      78 Pine Drive, Santa Claus, IN 47579
      View Details
    • $16,500

      Residential Lot in Christmas Lake

      Partially wooded lot near 200+ acre lake.
      412 East Tinsel Circle, Santa Claus, IN 47579
      View Details
    • $37,500

      Residential Land in Christmas Lake

      Two surveyed lots with lake view in Christmas Lake Village.
      00 Candy Cane Lane, Santa Claus, IN 47579
      View Details
    • $7,000

      Residential Lot in Santa Claus

      0.43-acre residential lot in Christmas Lake Village community.
      000 Chimes Drive, Santa Claus, IN 47579
      View Details
    • $13,900

      Residential Lots with Lake Views

      Two residential lots in gated community with lake views.
      318 S Balthazar Drive, Santa Claus, IN 47579
      View Details
    • $89,900

      Lakefront Lot in Gated Community

      Residential land with lake access and community amenities.
      470 Melchior Dr S, Santa Claus, IN 47579
      View Details
    • $5,000

      Residential Land in Festive Community

      Buildable lot in Christmas Lake Village, Santa Claus, Indiana.
      00 Prancer Drive N, Santa Claus, IN 47579
      View Details
    • $15,000

      Residential Land in Santa Claus

      Residential land available in Santa Claus, Indiana.
      679 S Kasper Drive, Santa Claus, IN 47579
      View Details
    • $29,000

      Residential Land in Christmas Lake

      Two combined lots in Christmas Lake Village totaling 0.721 acres.
      Lots 71 and 72 N Melchoir Drive, Santa Claus, IN 47579
      View Details
    • $15,000

      Residential Land in Santa Claus

      Residential land available in Santa Claus, Indiana.
      661 S Kasper Drive, Santa Claus, IN 47579
      View Details
    • $5,000

      Residential Land in Christmas Lake

      Wooded lot in Christmas Lake Village.
      0 Pine Tree Lane, Santa Claus, IN 47579
      View Details

    FAQs

    What type of property is this?
    Land - Residential land with access to community amenities and recreational facilities.
    Where is this land located?
    The property is located at 445 W Prancer Drive Santa Claus, IN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Access to 3 lakes for boating, fishing, and water skiing.; Located in Christmas Lake Village, a gated community with numerous amenities.; Near the Recreation Center with a beach/swimming area and beach volleyball.
    (812) 937-4486
    We can help!
    Listing Contact
    Kari Schaefer
    Kari Schaefer
    Real Estate License ID: RB18001903
    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
    445 W Prancer Drive, Santa Claus, IN 47579
    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!