Retail Building with Vacant
For Sale
$35,000
506 W Walnut St, Frankfort, IN 46041
Two adjoining parcels include a vacant residential lot and an updated commercial building originally built for a salon.
Property SizeContact for details
Days on Market186
Property Features for 506 W Walnut St
General Information
Standard status
Active
Property subtype
Land
Listing Agency:
AXEN Realty LLC
(317) 506-8626
Listed By:
Kathy Zamora
(317) 506-8626
Source:
Exprealty
Added: Feb 5
Changed: Aug 8
Last Checked: May 26 at 3:03AM
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 AXEN Realty LLC
Investment Insights
Based on property information with market context.
This offering includes a vacant residential lot at 506 W Walnut St together with an adjoining updated commercial building at 550 W Walnut St in Frankfort, IN. The vacant lot is available to support options such as residential building, parking, or expansion, subject to zoning requirements.
The adjacent commercial structure was originally built for a salon and has been updated with a new roof, new fascia, an A/C system, and modern finishes. Based on the property’s existing configuration, the building may be adaptable to include a drive-through service and/or additional parking opportunities, subject to zoning.
Consider this as a combined live/work, mixed-use, or investment-flexibility configuration, depending on how zoning and site development plans are ultimately addressed. Additional details and photos are referenced under BLC#22082405.
The adjacent commercial structure was originally built for a salon and has been updated with a new roof, new fascia, an A/C system, and modern finishes. Based on the property’s existing configuration, the building may be adaptable to include a drive-through service and/or additional parking opportunities, subject to zoning.
Consider this as a combined live/work, mixed-use, or investment-flexibility configuration, depending on how zoning and site development plans are ultimately addressed. Additional details and photos are referenced under BLC#22082405.
Key Highlights
- Two adjoining parcels in Frankfort, IN: vacant residential lot at 506 W Walnut St and an updated commercial building at 550 W Walnut St
- Vacant lot at 506 W Walnut St offers space for residential build, parking, or expansion (subject to zoning)
- Adjoining commercial building originally built for a salon, with stated conversion potential for a drive‑through service and extra parking (subject to zoning)
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
50k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Groceries 18%
Dining 3%
Electronics 2%
Schulz Market
Groceries
9,168 visits/mo
0.2 miles
Dollar Tree
Shops & Services
8,358 visits/mo
0.1 miles
BP
Shops & Services
6,658 visits/mo
0.4 miles
Dollar General
Shops & Services
5,019 visits/mo
0.1 miles
Dollar General
Shops & Services
4,923 visits/mo
0.4 miles
Demographics for 46041, IN
24,120
Population
9,889
Households
2.4
Avg Household Size
37
Median Age
17%
College-Educated
83%
High-School Grad
248.4 sq mi
ZIP Area
97
Density / Sq Mi
$60,716
Median Household Income
$39,503
Median Earnings
$900
Median Rent
$154,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Two adjoining parcels include a vacant residential lot and an updated commercial building originally built for a salon.
Where is this residential land & home lot located?
The property is located at 506 W Walnut St Frankfort, IN.
What is the asking price?
The asking price for this property is $35,000.
What are key features of this property?
This property features: Two adjoining parcels in Frankfort, IN: vacant residential lot at 506 W Walnut St and an updated commercial building at 550 W Walnut St; Vacant lot at 506 W Walnut St offers space for residential build, parking, or expansion (subject to zoning); Adjoining commercial building originally built for a salon, with stated conversion potential for a drive‑through service and extra parking (subject to zoning)
