Add Listing
    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

    78 Pine Drive Santa Claus, IN 47579

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    Residential Land - Santa Claus, IN

    Lot size:
    0.24 Acres
    Added:
    Apr 18, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 19 at 4:06 am

    Property Features for 78 Pine Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    74-05-02-404-048.000-005
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Annual Amount
    46.16

    Utilities

    Water front features
    Waterfront Christmas Lake, Waterfront, Waterfront Christmas Lake
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Joseph Wootan

    Listing agent Joseph Wootan

    Listing office List With Freedom.com LLC 5724 SW 77th Ave, Rd, IN

    Listing date Apr 18, 2026

    MLS# 202613796 Listing URL

    Copyright © 2026 Northeastern 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.

    Overview

    Lake View Residential Land

    This 0.24-acre residential lot is located in Santa Claus, Spencer County, Indiana. The property is zoned for single-family residential use and features a flat topography and rectangular shape. It offers paved road access and is positioned in a peaceful setting with lake views, within a neighborhood designed for quiet living, and is just minutes from Christmas Lake Village. Utilities available include electricity, phone line, and cable. Water and sewer availability should be verified with the county. This lot is suitable for a primary residence, weekend getaway, or long-term investment.
    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 Hair Salon Hotel & Motel Gym & Fitness Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Claus
    County
    Spencer
    State
    Indiana
    Longitude
    -86.925017
    Latitude
    38.105645

    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
    • $15,900

      Residential Lots with Lake Views

      Two residential lots in Christmas Lake Village with lake views.
      318 S Balthazar Drive, 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
    • $7,000

      Residential Land in Christmas Lake

      0.22-acre lot in gated community with lake access.
      148 W Melchoir 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
    • $6,000

      Wooded Lot in Holiday Village

      Residential land with Holiday World access in Santa Claus, Indiana.
      0 E Brown Road, 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
    • $5,525

      Land in Christmas Lake Village

      Vacant lot in gated community with amenities for development.
      Fir Tree Circle, Santa Claus, IN 47579
      View Details
    • $5,000

      Residential Land in Christmas Lake

      Wooded lot in gated community with lakes and golf.
      0 S Ornament Circle, 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

    FAQs

    What type of property is this?
    Residential land & home lot - Buildable lot in Santa Claus, Indiana, near Christmas Lake Village.
    Where is this residential land & home lot located?
    The property is located at 78 Pine 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: Lake view lot in Santa Claus, IN near Christmas Lake Village; Affordable entry into a residential lake area; Flat, buildable 0.24‑acre lot suitable for primary residence, weekend getaway, or long‑term hold
    (855) 456-4945
    We can help!
    Listing Contact
    Joseph Wootan
    Real Estate License ID: BRO-99919
    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!