Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6420 NE corydon ridge road Corydon, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    34 acres of commercial land zoned B2 and PEC.

    Type:LAND
    Lot size:
    34.86 Acres
    Added:
    Jul 31, 2024
    Days on Market:
    637
    Last Refresh:
    Apr 5 at 8:53 pm

    Property Features for 6420 NE corydon ridge road

    General Information

    Standard status
    Active
    Lot size
    34.86 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Brian T Haeseley

    Listing agent Brian T Haeseley License #RB14040159

    Listing office Keller Williams Realty Consultants

    Listing date Jul 31, 2024

    Source Moodyscre

    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 Keller Williams Realty Consultants

    Overview

    34 Acres Commercial Land Available

    This property features 34 acres of land zoned B2 and PEC. It is located at the I-64 exit ramp in Lanesville, Indiana, across the Interstate from Amazon and other commercial businesses. Approximately 14 acres are zoned B2 on Crandall Lanesville Road NE at the I-64 exit ramp. An additional approximately 7 acres are situated on the south side of Corydon Ridge Road. The seller is willing to consider selling the property in sections. Natural gas is scheduled to be installed in the area. The property is suitable for various commercial uses such as a gas station, hotel, or strip center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Auto Repair Shop Hotel & Motel Accounting Firm Travel Agency Bed & Breakfast Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Corydon
    County
    Harrison
    State
    Indiana
    Longitude
    -86.0047
    Latitude
    38.2605

    Nearby Similar for Sale

    • $1.00

      Corydon, IN Land Auction

      5 acre residential land for sale in Corydon, Indiana.
      Tract 1 Buck Creek Valley Road SE, Corydon, IN 47112
      View Details
    • $1.00

      Corydon Land Auction: 8.9 Acres

      8.9 acres in Corydon, IN. Online auction ending May 6.
      Tract 3 Buck Creek Valley Road SE, Corydon, IN 47112
      View Details
    • $1.00

      Corydon Land Auction: 6.6 Acres

      6.6 acres of land for auction in Corydon, Indiana.
      Tract 2 Buck Creek Valley Road SE, Corydon, IN 47112
      View Details
    • $75,000

      Residential Lot in Corydon, IN

      Buildable lot in Country Club Estates with mature trees.
      Country Club Estates Drive SE, Corydon, IN 47112
      View Details
    • $49,900

      Residential Land with City View

      Over half acre lot ready for development in Corydon, IN.
      HWY 337 NW, Corydon, IN 47112
      View Details
    • $1.00

      Historic Corydon Land Auction

      Unique land opportunity in historic downtown Corydon, Indiana.
      IN-62 W, 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
      View Details
    • $429,900

      Corydon Land with Varied Terrain

      68.76 acre property with open spaces, woods, and water.
      68.76 +/- AC Quarry Line Road, Corydon, IN 47112
      View Details
    • $59,999

      Secluded Land with River Proximity

      Secluded 2.34-acre land near O'Bannon Woods and the river.
      0 Cold Friday Road, 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
      View Details
    • $381,865

      Prime Commercial Land Opportunity

      1.44-acre commercial land with high visibility in Corydon, IN.
      Pacer Dr Lot 14, Corydon, IN
      View Details
    • $59,999

      Secluded Land with Endless Possibilities

      Secluded 2.34-acre property near O'Bannon Woods with residential potential.
      Cold Friday Road, Corydon, IN 47112
      View Details

    FAQs

    What type of property is this?
    Commercial land - 34 acres of commercial land zoned B2 and PEC.
    Where is this commercial land located?
    The property is located at 6420 NE corydon ridge road Corydon, IN.
    What are key features of this property?
    This property features: 34 Acres zoned B2 and PEC at I‑64 exit ramp.; Located across from Amazon and other commercial businesses.; Approximately 14 acres zoned B2 on Crandall Lanesville Rd NE at I‑64 exit ramp.
    (502) 552-4048 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian T Haeseley
    Real Estate License ID: RB14040159
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!