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    853 S 400 W Hebron, IN 46341

    Sponsored
    For Sale
    $200,000

    LAND - Hebron, IN

    Lot size:
    10.00 Acres
    Days on Market:
    15
    Last Refresh:
    Jan 22 at 4:06 am

    Property Features for 853 S 400 W

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    10.00 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    John Schupp

    SCHUPP Real Estate (219) 696-3596 [email protected]

    Listing agent John Schupp (219) 775-2373

    Listing date Jan 8, 2026

    MLS# 832511 Listing URL

    Copyright © 2026 Greater Northwest 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.

    Learn more

    Property Insight Report

    Overview

    10 Acres of Country Land

    This 10-acre lot offers a countryside location near State Road 8, just outside of town. Located in an unincorporated area, covenants allow for flexible building options while maintaining property values. Outbuildings and animals are welcome. Preliminary floor plans and drawings can be submitted for approval. Minimum requirements are in place to ensure stability and eliminate nuisances, with minimum sizes and architectural similarities for residences and outbuildings. Sales in 2025 are subject to crop rights pending offer acceptance, as well as final plat and surveys provided by the seller upon completion for county approval. Allow 60-90 days for publication. The 10-acre parcel is the smallest split available and cannot be re-subdivided later. Additional adjoining land may become available at a later date at new pricing, and the buyer will receive a first right of refusal recorded with the deed. This location is suitable for horses and hobby farms. Service drops are available for electric and natural gas. Private on-site septic and wells are required, and buyers should complete soil tests specific to their home location and plans for Health Board approval prior to closing. The address is to be determined by the county, based on the hobby farm across the street to the North and the Homestead to the East. Cash or conventional land loans only. There are no time restrictions on when you have to build.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land

    Suggested Use

    Wholesale Shop Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hebron
    County
    Porter
    State
    Indiana
    Longitude
    -87.14146
    Latitude
    41.310518

    FAQs

    What type of property is this?
    Agricultural land - Unincorporated 10-acre lot perfect for building with outbuildings and animals.
    Where is this agricultural land located?
    The property is located at 853 S 400 W Hebron, IN.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: - 10 Acre property in unincorporated area with no building time restrictions.; - Outbuildings and animals (including horses) are welcome; potential for hobby farm.; - Covenants allow flexibility in building while protecting property values; preliminary plan approval available.
    (219) 775-2373
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    853 S 400 W Hebron, IN 46341
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    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
    853 S 400 W Hebron, IN 46341
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    We can help!
    Listing Contact
    John Schupp
    (219) 775-2373
    Learn more
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