Your AI Navigator in Commercial Real Estate
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

    506 W Walnut St Frankfort, IN 46041

    For Sale
    $535,000

    Residential Lots - Frankfort, IN

    Lot size:
    0.11 Acres
    Days on Market:
    27
    Last Refresh:
    Dec 7 at 1:06 pm

    Property Features for 506 W Walnut St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    121010183012000021
    Lot size
    0.11 Acres

    Building Details

    Architectural style
    Other

    eXp Realty (812) 734-6048 [email protected]

    Listing agent Kathy Zamora (888) 611-3912 License #RB17001684

    Listing date Nov 11, 2025

    MLS# 22072870 Listing URL

    Copyright © 2025 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Residential Lot and Commercial Building

    This offering features a vacant residential lot and an updated commercial building in Frankfort, Indiana. The residential lot, located at 506 W Walnut St, presents opportunities for residential construction, parking facilities, or expansion, contingent upon zoning regulations. The adjacent building, situated at 550 W Walnut St, is currently operating as a salon and features a new roof, air conditioning, and modern interior finishes. These parcels offer flexibility for live-work arrangements, mixed-use developments, or investment opportunities, enhanced by a convenient location with high visibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Clinton
    State
    Indiana
    Longitude
    -86.517242
    Latitude
    40.279825

    Nearby Similar for Sale

    • $500,000
      2,700 SF

      Corner Lot Commercial Property

      Adaptable commercial space in Frankfort's thriving business district.
      359 N Jackson St, Frankfort, IN 46041
      View Details
    • $189,900
      Pending

      Frankfort Duplex: Investment Opportunity

      Duplex near downtown Frankfort with income-generating potential.
      250 W Washington St, Frankfort, IN 46041
      View Details
    • $349,900
      6,017 SF

      Versatile Building in Historical District

      Adaptable building near Downtown Frankfort with potential for various uses.
      408 E Washington St, Frankfort, IN 46041
      View Details
    • $200,000
      1,288 SF

      Free-Standing Automotive Building For Sale

      1,288 SF automotive building in the heart of Frankfort, IN.
      452 N Main St, Frankfort, IN 46041
      View Details
    • Contact for pricing
      195,000 SF

      Industrial Building Available for Sale

      Industrial building for sale with square footage from 195,000.
      County Road 800 W, Frankfort, IN 46058
      View Details
    • Contact for pricing
      310,000 SF

      Industrial Building Available for Sale

      Industrial building available for lease and sale in Frankfort, Indiana.
      I-65, Frankfort, IN
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot and updated commercial building in Frankfort, Indiana.
    Where is this residential land & home lot located?
    The property is located at 506 W Walnut St Frankfort, IN.
    What is the asking price?
    The asking price for this property is $535,000.
    What are key features of this property?
    This property features: - Rare opportunity to own a residential lot and updated commercial building together.; - **Updated commercial building with new roof, A/C, and modern finishes.**; - Vacant lot offers potential for residential build, parking, or expansion (subject to zoning).
    (888) 611-3912
    Request Owner's contact information
    506 W Walnut St Frankfort, IN 46041
    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.
    506 W Walnut St
    Frankfort, IN 46041
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    506 W Walnut St Frankfort, IN 46041
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.