Sign Up Successful!
You now have access to more from Realmo!
    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

    601 Chestnut St Corydon, IN 47112

    Sponsored
    For Sale
    $284,900

    Five-unit multi-family, high rental income.

    Property size:
    3,768 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    354
    This exceptional five-unit multi-family property, situated at 601 E Chestnut Street in Corydon, Indiana, presents a compelling investment opportunity. Boasting a total of 3,768 square feet, this property sits on a 0.26-acre lot, offering ample space and potential. Its prime location places it in close proximity to Rice Island Park, enhancing its desirability. The property includes a convenient shed and a pleasant backyard that borders Indian Creek, providing a tranquil setting. All five units are currently occupied, generating consistent rental income. Detailed financial information regarding each apartment and its rental income is available upon request. The property also features on-site parking, a significant advantage for tenants. This turnkey investment is ready for a new owner to step in and continue benefiting from the established rental stream. The property's strong location, combined with its current occupancy and income generation, makes it an attractive prospect for investors seeking a stable and profitable addition to their portfolio. Don't miss this chance to acquire a well-maintained, income-producing multi-family property in a desirable Corydon location. Contact us today to schedule a viewing and explore this exciting investment opportunity further.

    Property Features for 601 Chestnut St

    General Information

    Property type
    Residential income properties
    Square Feet
    3,768 SF
    Lot Size
    11,326 SF

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Lori Short

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Corydon
    County
    Harrison
    State
    Indiana
    Longitude
    -86.11882
    Latitude
    38.21023

    Nearby Similar for Sale

    • New
      $850,000
      3,682 SF

      55-Acre Farm with Custom-Built Home

      Southern Indiana farm featuring a custom home and equestrian facilities.
      4020 Old Hwy 337, Corydon, IN 47112
      View Details
    • Contact for pricing
      7,225 SF

      Turn-Key Restaurant Opportunity in Corydon

      7,225 SF free-standing restaurant on 1.44 acres for sale.
      160 Pacer Dr NW, Corydon, IN 47112
      View Details
    • $2,600,000
      9,500 SF

      Modern Medical Office Building

      Renovated medical office building for sale in Corydon, Indiana.
      2230 Edsel Ln NW, Corydon, IN 47112
      View Details
    • $3,000,000

      Turnkey Wrecker Service For Sale

      Established wrecker service in historic Corydon since 1970.
      1020 Highway 62 NW, Corydon, IN 47112
      View Details
    • $250,000
      5,100 SF

      Versatile Commercial Building in Corydon

      Spacious commercial building with apartment, ideal for various businesses.
      1350 Old Forest Rd NW, Corydon, IN 47112
      View Details
    • $1,218,914
      2,800 SF

      Freestanding KFC Restaurant For Sale

      2,800 SF KFC absolute NNN lease investment opportunity.
      1793 Old Highway 135 NW, Corydon, IN 47112
      View Details
    • $1,225,000
      16,000 SF

      Retail Property in Corydon, IN

      Retail property available for sale in Corydon, Indiana.
      1849 Gardner Ln NW, Corydon, IN 47112
      View Details
    • $265,000
      2.85 Acres

      Prime Corydon Commercial Land

      2.85 Acres, High Visibility, B-2 Zoning
      827 Chestnut St, Corydon, IN 47112
      View Details
    • $700,000
      0.10 Acres

      Downtown Corydon Office Building

      Prime Location, Historic Charm, High Visibility
      201-203 Capitol Ave, Corydon, IN 47112
      View Details
    • Contact for pricing
      3.76 Acres

      Corydon Retail Space - Hwy 135

      High-traffic retail space, prime location.
      Old Highway 135, Corydon, IN 47112
      View Details
    • $59,000
      0.07 Acres

      Historic Corydon Industrial Building

      Prime Downtown Corydon Location, As-Is
      225 High St, Corydon, IN 47112
      View Details
    • Contact for pricing
      0.47 Acres

      Corydon, IN Commercial Property Auction

      Prime location, two parcels, online auction.
      Allison Ln, Corydon, IN 47112
      View Details

    FAQs

    What type of property is this?
    Residential income property - Five-unit multi-family, high rental income.
    Where is this residential income property located?
    The property is located at 601 Chestnut St Corydon, IN.
    What is the asking price?
    The asking price for this property is $284,900.
    (812) 738-3739
    Request Owner's contact information
    601 Chestnut St Corydon, IN 47112
    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.
    601 Chestnut St
    Corydon, IN 47112
    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
    601 Chestnut St Corydon, IN 47112
    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

    We can help!
    Listing Contact
    Lori Short
    (812) 738-3739
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.