Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Interstate Hotel/Convention Center Opportunity Title is generated by Realmo AI

    6908 S STATE ROAD 66, Leavenworth, IN 47137

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $800,000

    Hotel/Convention Center with interstate exposure and truck stop proximity.

    Type:Hospitality
    Property size:
    24,554 SF
    Price / SF:
    $32/SF
    Added:
    Nov 21, 2025
    Days on Market:
    184
    Last Refresh:
    Apr 5 at 11:57 pm

    Property Features for 6908 S STATE ROAD 66

    General Information

    Standard status
    Active
    Size
    24,554 SF
    Property subtype
    Hospitality

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Wesley Odle
    Wesley Odle

    Listing agent Wesley Odle License #KY #201952

    Listing office Venture Realty LLC

    Listing date Nov 21, 2025

    Source Sperrycga

    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 Venture Realty LLC

    HighLights

    • Excellent Interstate Exposure/Visibility at a Major Exit
    • Over 5 Acres with Out Lot and Development Potential
    • Income‑Producing Parking Lot Lease: $21,600/Year Until February 2025
    • Creative Seller Financing Options: Finance, Exchange, Lease Back, Joint Venture
    • Proximity to Major Businesses including Jasper Engine Manufacturing and Truck Stops
    • Unfinished Expansion to Increase Revenue

    Overview

    This property, situated on over 5 acres, offers great interstate exposure and visibility at the Leavenworth exit. The site currently hosts an older hotel and convention center with a partially unfinished interior and exterior room access. It features two kitchen hood systems. The location is near Jasper Engine Manufacturing. The property is located off Interstate 64 at the Leavenworth exit, providing expressway visibility and access. Two truck stops, Loves and Pilot, are also located at this exit, and the property is near Jasper Engines and one exit from Corydon. A truck driving school currently leases the parking lot for $21,600 per year until February 1, 2025. The seller is open to creative arrangements, including finance, exchange, lease back, or joint venture. The property includes an out lot and development potential. There is unfinished expansion work that could increase revenue. Potential owner finance or exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Real Estate Agency Restaurant Hotel & Motel Auto Parts Store Auto Repair Shop Food Market Grocery & Convenience Store Bakery Travel Agency Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Leavenworth
    County
    Crawford
    State
    Indiana
    Longitude
    -86.36
    Latitude
    38.242

    Nearby Similar for Sale

    • $219,500
      3,297 SF

      Remodeled Restaurant Opportunity by River

      Remodeled restaurant with river frontage and outdoor seating area.
      764 Nelson Street, Leavenworth, IN 47137
      View Details
    • $429,900
      1,564 SF

      Equestrian Property Near Interstate 64

      22-acre horse lover's dream with barn, workshop, and remodeled home.
      7892 State Rd 66, Leavenworth, IN 47137
      View Details
    • $1.00
      1,856 SF

      Historic Brick Building Investment Opportunity

      Two-story commercial building in need of repairs and updates.
      708 S Nelson Street, Leavenworth, IN 47137
      View Details
    • $65,000

      Versatile Building with Parking Lot

      Adaptable building with parking, suitable for investment or conversion.
      1st Street, Leavenworth, IN 47137
      View Details
    • $240,000
      1,380 SF

      Farm with Pond and Ranch

      Farm featuring a brick ranch, pond, barns, and sheds.
      4775 E Indian Hollow Road, Leavenworth, IN 47137
      View Details
    • $210,000
      2,072 SF

      Brick Home on 13 Acres

      Brick home with river view on 13+/- acres.
      5995 E State Road 62, Leavenworth, IN 47137
      View Details

    FAQs

    What type of property is this?
    Hotel - Hotel/Convention Center with interstate exposure and truck stop proximity.
    Where is this hotel located?
    The property is located at 6908 S STATE ROAD 66 Leavenworth, IN.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Excellent Interstate Exposure/Visibility at a Major Exit; Over 5 Acres with Out Lot and Development Potential; Income‑Producing Parking Lot Lease: $21,600/Year Until February 2025
    (502) 797-8828
    We can help!
    Listing Contact
    Wesley Odle
    Wesley Odle
    Real Estate License ID: KY #201952
    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

    Thank You for Inquiry
    6908 S STATE ROAD 66, LEAVENWORTH, IN 47137
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!