Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land Near River Ridge Title is generated by Realmo AI

    9019 Hwy 62 6.5 Acres, Charlestown, IN 47111

    View on Map
    Claim this Listing
    For Sale
    $1,500,000

    6.5 acres of commercial land near River Ridge Commerce Center.

    Lot size:
    6.50 Acres
    Added:
    Jan 11, 2023
    Days on Market:
    1241
    Last Refresh:
    May 13 at 8:24 pm

    Property Features for 9019 Hwy 62 6.5 Acres

    General Information

    Standard status
    Active
    Lot size
    6.50 Acres
    Property subtype
    Other

    We can help!

    Listing Contact
    Todd Paxton

    Listing agent Todd Paxton

    Listing office Keller Williams Realty Consultants

    Listing date Jan 11, 2023

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Consultants

    HighLights

    • 6.5 acres of land
    • Commercial opportunity
    • Located across from River Ridge Commerce Center
    • Clark County Zoned AG
    • Features 3 Guest Facilities
    • Acreage to be determined by survey

    Overview

    This commercial opportunity features 6.5 acres of land situated across from the River Ridge Commerce Center. The property is located in Charlestown, Indiana. It is zoned AG under Clark County regulations. The final property lines and acreage will be determined by a survey.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Charlestown
    County
    Clark
    State
    Indiana
    Longitude
    -85.6329
    Latitude
    38.462

    Nearby Similar for Sale

    • $144,900

      Ohio Riverfront Land Opportunity

      Over 1.5 acres of prime riverfront land for sale.
      5101 & 5103 Stoneview Drive, Charlestown, IN 47111
      View Details
    • $875,000
      4,616 SF

      Unique Castle Property Opportunity

      A unique castle property with immense potential on 7.91 acres.
      6900 Dave Carr Road, Charlestown, IN 47111
      View Details
    • $339,900
      1,320 SF

      Charlestown Commercial Office Building

      Renovated office space in Charlestown, Indiana, ready for occupancy.
      840 Main St, Charlestown, IN 47111
      View Details
    • $50,000

      One Acre Lot For Home

      One acre lot perfect for building a dream home.
      0 Pebble Brook Drive, Charlestown, IN 47111
      View Details
    • $274,900
      387,684 SF

      Charlestown Scenic Acres with RV

      8.9 acres with RV hookups, pond, and outbuildings.
      4318 Fox Road, Charlestown, IN 47111
      View Details
    • $37,900

      Residential Lot in Charlestown, IN

      Build-ready lot near Charlestown Square and State Park.
      378 Monroe Street, Charlestown, IN 47111
      View Details
    • $195,000

      Charlestown Land with Wooded Privacy

      12.94 acres in Charlestown, featuring woods and open space.
      Edgewood Drive, Charlestown, IN 47111
      View Details
    • $85,000
      26,484 SF

      Commercial Lot Near Highway 62

      Approximately 0.6 acre commercial lot near growing Highway 62.
      6520 Charlestown Pike, Charlestown, IN 47111
      View Details
    • $899,000

      Prime Commercial Land Opportunity

      Highly visible land with development potential in growing area.
      8911 highway 62, Charlestown, IN
      View Details
    • $145,000
      12,632 SF

      Riverfront Lot with Utility Hookups

      Riverfront lot with utility hookups, canopy, and community amenities.
      4702 Rivers Edge Drive, Charlestown, IN 47111
      View Details
    • $65,000

      Residential Lot in Heritage Place

      Buildable lot in a growing community with utilities available.
      8131 Farming Way, Charlestown, IN 47111
      View Details
    • $65,000

      Buildable Lot in Heritage Place

      Residential land for custom home in growing Charlestown community.
      8140 Farming Way, Charlestown, IN 47111
      View Details

    FAQs

    What type of property is this?
    Commercial land - 6.5 acres of commercial land near River Ridge Commerce Center.
    Where is this commercial land located?
    The property is located at 9019 Hwy 62 6.5 Acres Charlestown, IN.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 6.5 acres of land; Commercial opportunity; Located across from River Ridge Commerce Center
    (812) 944-7024
    We can help!
    Listing Contact
    Todd Paxton
    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

    Thank You for Inquiry
    9019 Hwy 62 (6.5 Acres), Charlestown, IN 47111
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!