Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    578 W Johnson Street Sullivan, IN 47882

    View on Map
    Claim this Listing
    Pending
    Contact for pricing

    Residential Land - Sullivan, IN

    Lot size:
    0.28 Acres
    Added:
    Jan 23, 2026
    Days on Market:
    96
    Last Refresh:
    Apr 29 at 3:06 am

    Property Features for 578 W Johnson Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    77-07-33-113-041.000-012
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Annual Amount
    146

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kegan Inman
    Kegan Inman

    Listing agent Kegan Inman License #RB22002037

    Listing office Inman Realty Company LLC 1009 A St SE, Linton, IN

    Listing date Jan 23, 2026

    MLS# 202602536 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.

    Overview

    Residential Land Ready For Building

    This residential corner lot, located on the edge of town, measures 60 ft x 205 ft, totaling 0.28 acres. Preliminary title work has been completed, facilitating a quick closing. The property provides access to electric, gas, water, and sewer, with existing water and sewer hookups. The adjacent lot at 570 W Johnson St is also available, and purchasing both lots would create a combined area of 115 ft x 205 ft, exceeding half an acre, presenting an opportunity for a building site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Sullivan
    County
    Sullivan
    State
    Indiana
    Longitude
    -87.417247
    Latitude
    39.092094

    Nearby Similar for Sale

    • $379,900

      Versatile Retail/Service Building on Acreage

      5280 SF building on 3.61 acres in business district.
      584 S Section Street, Sullivan, IN 47882
      View Details
    • $399,900

      Turn-Key Restaurant, Bar & Bowling

      Successful restaurant, bar, and bowling business for sale in Sullivan.
      1616 N Section Street, Sullivan, IN 47882
      View Details
    • $1,150,000

      Productive Farm in Sullivan, Indiana

      Tillable farm with fertile soil, suitable for agriculture.
      Co Rd 400 West, Sullivan, IN 47882
      View Details
    • $70,000

      5.57 Acre Residential Land Parcel

      Build your dream home on this 5.57 acre lot.
      Silver St lot #2, Sullivan, IN 47882
      View Details
    • $1,400,000

      Sullivan Land with Recreational Potential

      198+/- acres of pasture and wooded land for sale.
      Co Rd 875 W, Sullivan, IN 47882-0000
      View Details
    • $35,000

      2.41 Acre Build Site

      Residential land for building a dream home near Sullivan, IN.
      Missouri St, Sullivan, IN 47882
      View Details
    • $35,000

      2.41 Acre Build Site

      Residential land for building a dream home near Sullivan.
      Missouri St, Sullivan, IN 47882
      View Details
    • $98,000

      Versatile Commercial Property in Sullivan

      Commercial property with shop space and living quarters in Sullivan.
      937 N State Street, Sullivan, IN 47882
      View Details
    • $313,900

      Productive Farmland Along Highway 54

      38.93 acre farmland tract with highway frontage.
      HWY 54, Sullivan, IN 47882-0000
      View Details
    • $12,000

      Residential Lot in Sullivan, Indiana

      0.26-acre residential lot with utilities access in city limits.
      570 W Johnson Street, Sullivan, IN 47882
      View Details
    • $265,000

      Sullivan County Land with Lake

      33 acres of prime land with lake and mature woods.
      TBD N County Road 700 East, Sullivan, IN 47882
      View Details
    • $79,900

      Residential Land with Barn, Woods

      6.25 acre residential land with barn and woods.
      917.5 N Section Street, Sullivan, IN 47882
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Spacious corner lot with utilities ready for a quick close.
    Where is this residential land & home lot located?
    The property is located at 578 W Johnson Street Sullivan, 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: Ready for Quick Close: Preliminary title work is complete.; Utilities Available: Access to electric, gas, water, and sewer.; Water and Sewer Hookups in Place: Simplifies building process.
    (812) 699-0628
    We can help!
    Listing Contact
    Kegan Inman
    Kegan Inman
    Real Estate License ID: RB22002037
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!