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    Tbd Henry Rd South Whitley, IN 46787

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    Vacant Land - South Whitley, IN

    Lot size:
    262.00 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 4 at 6:06 am

    Property Features for Tbd Henry Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Parking features
    Garage
    Lot size
    262.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Richard Cox

    Schrader Real Estate and Auction Company, Inc. (260) 244-7606

    Listing agent Richard Cox 8004512709x100

    Listing date Mar 2, 2026

    MLS# 11663933 Listing URL

    Copyright © 2026 My State MLS. 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

    Overview

    Productive Farmland in South Whitley

    This 262-acre property in South Whitley, Indiana, presents an opportunity to acquire high-quality farmland in Whitley County, characterized by strong soil types and road frontage. The land will be offered in 7 tracts, providing options for farmers, investors, and potential building sites. Immediate possession for farming purposes is available for the 2026 crop year. Tract 1 consists of 35 acres of tillable land with Pewamo and Blount soils and frontage on Henry Road. Tract 2 features 42 acres of tillable land with Haskins, Pewamo, and Blount soils, also with frontage on Henry Road. Tract 3 comprises 78 acres, mostly tillable, including approximately 10 acres of woods accessible by lane, with Haskins, Pewamo, and Blount soils and frontage on Henry Road. Tract 4 includes 36 acres of tillable land with frontage on both Henry Road and CR 350 W, featuring Haskins, Pewamo, and Blount soils. Tract 5 offers 10 acres of tillable land, presenting a potential building site with frontage on CR 350 W. Tract 6 contains 32 acres of tillable land with Pewamo and Blount soils and frontage on Henry Road. Finally, Tract 7 consists of 29 acres of tillable land with mostly Pewamo and Blount soils, featuring frontage on Henry Road and CR 350 W. Approximately 80% of the soils are Blount and Pewamo. Woods are present for hunting. Open house and inspection dates are scheduled for Wednesday, March 18, 2026, and Monday, March 30, 2026, from 4-6pm. Farming rights are available in 2026.
    Location Intelligence

    Current Use by Public Records

    Agricultural land

    Map

    City
    South Whitley
    County
    Whitley
    State
    Indiana
    Longitude
    -85.564578
    Latitude
    41.023602

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    FAQs

    What type of property is this?
    Agricultural land - 262 acre farmland with tillable acreage and road frontage.
    Where is this agricultural land located?
    The property is located at Tbd Henry Rd South Whitley, IN.
    What is the asking price?
    The asking price for this property is $1.00.
    What are key features of this property?
    This property features: - Productive tillable farmland with immediate possession for farming purposes in 2026; - High percentage (80%) of Blount and Pewamo soils, known for strong agricultural performance; - Multiple tracts available (7 in total) offering flexibility for farmers, investors, and potential building sites
    (260) 244-7606
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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
    Tbd Henry Rd South Whitley, IN 46787
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    Listing Contact
    Richard Cox
    (260) 244-7606 (800) 451-2709
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