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    Equestrian Property Adjoining Clark State Forest Title is generated by Realmo AI

    2207 S Casey Road, Henryville, IN 47126

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    For Sale
    $299,000

    Horseback riding facility with direct forest access and recreational space.

    Type:Farm
    Property size:
    300 SF
    Price / SF:
    $996/SF
    Added:
    Jul 13, 2022
    Days on Market:
    1400
    Last Refresh:
    Apr 1 at 9:10 pm

    Property Features for 2207 S Casey Road

    General Information

    Standard status
    Active
    Size
    300 SF
    Property subtype
    Farm

    Building Details

    Year Built
    2012

    We can help!

    Listing Contact
    Whitetail Properties Real Esta

    Listing agent Whitetail Properties Real Esta License #RB21001754

    Listing office Whitetail Properties Real Estate

    Listing date Jul 13, 2022

    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 Whitetail Properties Real Estate

    HighLights

    • Direct access to Clark State Forest horseback riding trails.
    • Adjoins Clark State Forest.
    • Excellent hunting with established clover plot and record whitetail potential.
    • Recreational space/cabin with operating office and tack room.
    • New fencing suitable for +/- 15 horses.
    • Scenic pond and long‑range fall views.

    Overview

    Located at the dead end of a county road, this property adjoins Clark State Forest and has been used as a horseback riding facility. It offers direct access to one of the nine horseback riding trails in the forest. New fencing has been installed, and the property is currently home to approximately 15 horses. A scenic pond is located along the driveway, which winds to the top of a ridge with long-range fall views. The property features a poured basement with 12-inch thick walls, which has been transformed with framing and roof trusses into a recreational space. This space currently serves as the operating office and tack room for the business, as well as a cabin-type residence for overnight stays. The property offers room for a building site and is located in close proximity to Louisville. There is a trail to a small established clover plot. The property size is 300 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Real Estate Agency Auto Repair Shop Catering Service Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Henryville
    County
    Clark
    State
    Indiana
    Longitude
    -85.848631
    Latitude
    38.56235

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    FAQs

    What type of property is this?
    Horse & equestrian property - Horseback riding facility with direct forest access and recreational space.
    Where is this horse & equestrian property located?
    The property is located at 2207 S Casey Road Henryville, IN.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Direct access to Clark State Forest horseback riding trails.; Adjoins Clark State Forest.; Excellent hunting with established clover plot and record whitetail potential.
    (217) 285-9000
    We can help!
    Listing Contact
    Whitetail Properties Real Esta
    Real Estate License ID: RB21001754
    Learn More
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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.

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