Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile 10-Acre Property Title is generated by Realmo AI

    7233 50th West, Fortville, IN 46040

    View on Map
    Claim this Listing
    For Sale
    $350,000

    10-acre property in Mt. Vernon School District with road frontage.

    Type:Land / Farm
    Property size:
    435,600 SF
    Lot size:
    10.00 Acres
    Price / SF:
    $0.80/SF
    Added:
    May 14, 2026
    Days on Market:
    14
    Last Refresh:
    May 15 at 9:28 pm

    Property Features for 7233 50th West

    General Information

    Standard status
    Active
    Size
    435,600 SF
    Lot size
    10.00 Acres
    Property subtype
    Land / Farm

    We can help!

    Listing Contact
    Dick Richwine

    Listing agent Dick Richwine License #RB14006231

    Listing office Berkshire Hathaway Home

    Listing date May 14, 2026

    Source Compass

    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 Berkshire Hathaway Home

    HighLights

    • 10‑acre property in Mt. Vernon Community School District.
    • Versatile land suitable for building a home, horse farm, or farmland.
    • Approximately 330 feet of road frontage for easy access.
    • Wide open space and scenic countryside views.
    • Conveniently located near town amenities.
    • Rare opportunity to own acreage in a prime location.

    Overview

    This 10.0-acre property is located within the Mt. Vernon Community School District. The land offers approximately 330 feet of road frontage. It presents opportunities for building a home, establishing a private horse farm, or continuing its use as farmland. The property provides open space and countryside views, offering a rural living environment with convenient access to town amenities. It is located in Fortville, IN.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fortville
    County
    Hancock
    State
    Indiana
    Longitude
    -85.817239
    Latitude
    39.892641

    Nearby Similar for Sale

    • $899,000
      14,343 SF

      Established Retail Opportunity in Fortville

      14,000+ SF retail property with redevelopment potential in Fortville.
      624 N Madison st, Fortville, IN 46040
      View Details
    • $189,000

      Fortville Residential Development Opportunity

      Prime corner lot with approvals for 4-unit residential dwelling.
      443-445 E Michigan Street, Fortville, IN 46040
      View Details
    • $1,450,000

      Fortville Residential Land Opportunity

      25.39 acres of residential land within Fortville city limits.
      0 Fortville North Pike, Fortville, IN 46040
      View Details
    • $359,900

      Fortville Residential Lots for Sale

      Tranquil 3-6 acre lots near Fortville and Pendleton, Indiana.
      10201 - Lot 1 N Alford Road, Fortville, IN 46040
      View Details
    • $1,800,000
      11,703 SF

      Renovated Retail Space on Broadway

      Newly renovated retail space available for sale or lease.
      135 E Broadway St, Fortville, IN
      View Details
    • $289,900

      Fortville Residential Lots for Sale

      Spacious 3-6 acre lots near Fortville and Pendleton.
      10101 - Lot 1 N Alford Road, Fortville, IN 46040
      View Details
    • $325,000
      435,600 SF

      Versatile Acreage in Mt. Vernon

      10-acre property ideal for building, farming, or equestrian pursuits.
      7401 50th West, Fortville, IN 46040
      View Details
    • $630,000

      Fortville Commercial Land Opportunity

      Corner lot in high-traffic area with commercial zoning.
      0 E Broadway Street, Fortville, IN 46040
      View Details
    • $395,000
      470,448 SF

      Land in Mt. Vernon District

      10.8-acre property in Mt. Vernon School District with endless possibilities.
      7620 50th West, Fortville, IN 46040
      View Details
    • $450,000
      762,300 SF

      Versatile Acreage in Mt. Vernon

      17.5-acre property in Mt. Vernon school district with road frontage.
      7501 50th West, Fortville, IN 46040
      View Details
    • $395,000

      10.8 Acres in Mt. Vernon

      10.8-acre property in Mt. Vernon School District with open space.
      7544 50th West, Fortville, IN 46040
      View Details
    • $295,900

      Land For Sale Fortville

      Land available in Fortville, Indiana.
      10101 - Lot 1 N Alford Road, Fortville, IN 46040
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 10-acre property in Mt. Vernon School District with road frontage.
    Where is this agricultural land / farmland located?
    The property is located at 7233 50th West Fortville, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: 10‑acre property in Mt. Vernon Community School District.; Versatile land suitable for building a home, horse farm, or farmland.; Approximately 330 feet of road frontage for easy access.
    (317) 558-6800
    We can help!
    Listing Contact
    Dick Richwine
    Real Estate License ID: RB14006231
    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

    Thank You for Inquiry
    7233 50th West, Fortville, IN 46040
    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!