Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4879 W Henderson Park Rd Salem, IN 47167

    Sponsored
    For Sale
    $399,900

    Residential Land - Salem, IN

    Lot size:
    40.00 Acres
    Days on Market:
    16
    Last Refresh:
    Jan 31 at 12:06 pm

    Property Features for 4879 W Henderson Park Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    88-33-34-000-017.000-009
    Exterior features
    Pole Barn
    Lot size
    40.00 Acres

    Building Details

    Architectural style
    Other
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Mary McCoskey Finkle
    Mary McCoskey Finkle

    Mainstreet Realtors (812) 883-9555

    Listing agent Mary McCoskey Finkle (812) 883-9555 License #AD51424708

    Listing date Jan 16, 2026

    MLS# 202601288 Listing URL

    Copyright © 2026 Bedford Board 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

    40 Acres in Washington County

    This 40-acre property in Washington County includes woods and tillable cropland. A 40x42 pole barn is located on the premises. The property may be suitable for building a home or for hunting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Salem
    County
    Washington
    State
    Indiana
    Longitude
    -86.175993
    Latitude
    38.644503

    Nearby Similar for Sale

    • $1,500,000
      Pending

      Apartment Complex in Salem, Indiana

      21-unit apartment complex with rental income potential in Salem, Indiana.
      100 Walnut Tree Dr, Salem, IN 47167
      View Details
    • New
      $199,900
      0.61 Acres

      Commercial Building with Parking Space

      Versatile commercial building suitable for various business ventures.
      300 W Mulberry St, Salem, IN 47167
      View Details
    • $339,000

      Downtown Salem Commercial Building For Sale

      Well-maintained commercial building with storefronts, office space, and parking.
      18 Public Sq, Salem, IN 47167
      View Details
    • $1,295,000
      0.17 Acres

      Historic Salem Bakery - Turnkey Business

      Established bakery, loyal clientele, high profits.
      21 Public Rd, Salem, IN 47167
      View Details
    • $150,000
      1.30 Acres

      High-Traffic Salem Commercial Land

      Prime Salem location, 1.3 acres, high visibility.
      507 Jackson St, Salem, IN 47167
      View Details
    • $480,000

      High-Traffic Salem Retail Building

      Prime Salem location, 3548 sq ft, 1.14 acres.
      1012 Hackberry St, Salem, IN 47167
      View Details
    • $352,000
      0.08 Acres

      Historic Salem Square Gem

      Prime Downtown Retail Space, Huge Potential
      48 Public Sq, Salem, IN 47167
      View Details
    • $249,900
      0.26 Acres

      Salem Office Building - Prime Location

      Bank-ready office space, updated & secure.
      1358 Jackson St, Salem, IN 47167
      View Details
    • $1,300,000
      22,894 SF

      Salem, IN Storage Complex Investment

      High-Occupancy Storage Facility, Great ROI
      406 Cox Ferry Rd, Salem, IN 47167
      View Details
    • $639,000
      0.65 Acres

      Established Salem Office Building & Business

      Profitable Business, Prime Location, High-Demand Equipment
      1302 Hackberry St, Salem, IN 47167
      View Details
    • $1,800,000
      71,102 SF

      Salem Industrial Campus: Prime Location

      22 Acres, 71,102 SF, High Potential
      501 Market St, Salem, IN 47167
      View Details
    • $199,900
      3,444 SF

      High-Income Potential Salem Property

      88-Unit Storage Potential, Fixer-Upper Home
      1101 Main St, Salem, IN 47167
      View Details

    FAQs

    What type of property is this?
    Agricultural land - 40-acre property with woods, cropland, and a pole barn.
    Where is this agricultural land located?
    The property is located at 4879 W Henderson Park Rd Salem, IN.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: - 40 Acres of Woods and Tillable Cropland; - Includes a 40x42 Pole Barn; - Ideal for Building a Dream Home
    (812) 620-0212
    Request Owner's contact information
    4879 W Henderson Park Rd Salem, IN 47167
    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.
    4879 W Henderson Park Rd
    Salem, IN 47167
    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
    4879 W Henderson Park Rd Salem, IN 47167
    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

    We can help!
    Listing Contact
    Mary McCoskey Finkle
    Mary McCoskey Finkle
    Real Estate License ID: AD51424708
    (812) 620-0212
    Learn more
    Google sign-in failed. Please try again or use another login method.