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    Horse Farm with Indoor Arena Title is generated by Realmo AI

    5147 S Concord Road, Nabb, IN 47147

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    For Sale
    $525,900

    Horse farm featuring indoor arena, barn, and charming farmhouse.

    Type:Farm
    Property size:
    1,806 SF
    Price / SF:
    $291/SF
    Added:
    Jul 13, 2023
    Days on Market:
    1035
    Last Refresh:
    Apr 1 at 9:10 pm

    Property Features for 5147 S Concord Road

    General Information

    Standard status
    Active
    Size
    1,806 SF
    Property subtype
    Farm

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Lopp Real Estate Brokers

    Listing agent Lopp Real Estate Brokers

    Listing office

    Listing date Jul 13, 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 Lopp Real Estate Brokers

    HighLights

    • 100 x 60 Indoor Arena (built in 2008) with attached 20 x 100 hay storage.
    • 40 x 46 Horse Barn (built in 1998) featuring 4 large stalls (3 are 12 x 14).
    • Ideal parking area for large trucks and trailers.
    • Fenced pastures and a 9‑acre hay field suitable for pasture.
    • Creek with slate bottom and tree‑lined banks for training.
    • True country farmhouse with newer HVAC (approx. 5 years old) and updated kitchen cabinets and flooring.

    Overview

    This horse farm is located approximately 35 minutes from Louisville, Kentucky, and 20 minutes from Madison and Scottsburg. It features a 100 x 60 indoor arena constructed in 2008, which includes a 20 x 100 hay storage area that could be converted into additional stalls. A 40 x 46 horse barn, built in 1998, contains four large stalls, three of which measure 12 x 14. Additionally, there is a 20 x 46 workshop/garage. The pasture areas are enclosed with well-maintained fencing. The property includes a 9-acre hay field with mixed grasses that could be fenced for pasture use. A tree-lined creek with a mostly slate bottom provides an excellent area for trail riding or training colts. The back 7 acres are currently cropped but could also be used for hay or pasture, although this area is subject to flooding during extreme rain events. The parking area is suitable for large trucks and trailer storage. The 1806 square foot home is a country farmhouse. The HVAC system is approximately 5 years old. The kitchen features newer oak cabinets and vinyl plank flooring installed in October 2022.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Nabb
    County
    Clark
    State
    Indiana
    Longitude
    -85.587184
    Latitude
    38.615797

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    FAQs

    What type of property is this?
    Horse & equestrian property - Horse farm featuring indoor arena, barn, and charming farmhouse.
    Where is this horse & equestrian property located?
    The property is located at 5147 S Concord Road Nabb, IN.
    What is the asking price?
    The asking price for this property is $525,900.
    What are key features of this property?
    This property features: 100 x 60 Indoor Arena (built in 2008) with attached 20 x 100 hay storage.; 40 x 46 Horse Barn (built in 1998) featuring 4 large stalls (3 are 12 x 14).; Ideal parking area for large trucks and trailers.
    (812) 728-8181
    We can help!
    Listing Contact
    Lopp Real Estate Brokers
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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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