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    6909 State Road 66 Leavenworth, IN 47137

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    For Sale
    $350,000

    High-traffic location, stunning views, great potential.

    Property Features for 6909 State Road 66

    General Information

    Property type
    Investment properties
    Lot Size
    33,977 SF

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Rosemary Trinkle

    Listing Agency: Trinkle Group Real Estate and Appraisals Listing Agent: Rosemary Trinkle

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

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property, located at 6909 S State Road 66 in Leavenworth, Indiana, presents a unique investment opportunity. The approximately 5,500 square foot building sits on a prime 0.78-acre lot at the intersection of Interstate 64 and IN-66, boasting high visibility and accessibility. Exit 92 provides convenient access, and the property includes over 3,000 square feet of paved asphalt parking. Its strategic location offers significant advantages, situated near the new Love's Truck Stop, Jasper Engines (Crawford County's largest employer), and Crawford County High School. Enjoy breathtaking Ohio River views, including a boat dock, adding to the property's appeal. The property is only 30 minutes from Louisville, Kentucky, providing easy access to a larger metropolitan area. Crawford County actively supports diverse businesses through its local economic foundation, creating a favorable environment for growth. The area's natural beauty, encompassing over 200,000 acres of forests and state parks, attracts a significant number of visitors annually, further enhancing the property's potential. This property is priced at $350,000 and offers substantial potential for a variety of commercial ventures.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Investment properties

    Suggested Use

    Real Estate Agency Restaurant Hotel & Motel Auto Parts Store Auto Repair Shop Food Market Grocery & Convenience Store Bakery Travel Agency Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Leavenworth
    County
    Crawford
    State
    Indiana
    Longitude
    -86.36179
    Latitude
    38.23961

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      but Seller will not repair. Priced to sell. Square Footage is approximate. It's up to Buyer or Buyers agent to determine if it's important for the exact. Back on Market due to buyers financing.""""}"""

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    FAQs

    What type of property is this?
    Investment property - High-traffic location, stunning views, great potential.
    Where is this investment property located?
    The property is located at 6909 State Road 66 Leavenworth, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    (812) 723-4663
    Request Owner's contact information
    6909 State Road 66 Leavenworth, IN 47137
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    Leavenworth, IN 47137
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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
    6909 State Road 66 Leavenworth, IN 47137
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    We can help!
    Listing Contact
    Rosemary Trinkle
    Real Estate License ID: RB140926547
    (812) 723-4663 (812) 653-7585 (812) 723-4213
    Learn more
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