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

    6369 IN-111 New Albany, IN 47150

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

    Building lot with captivating Ohio River views near Casino.

    Type:Land
    Added:
    Oct 22, 2024
    Days on Market:
    547
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 6369 IN-111

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Stephannie Wilson

    Listing agent Stephannie Wilson License #RB14039714

    Listing office NextHome Wilson Real Estate Services

    Listing date Oct 22, 2024

    Source Crexi

    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 NextHome Wilson Real Estate Services

    Overview

    Ohio River View Building Lot

    This building lot offers views of the Ohio River and is located close to the Casino. Prospective buyers are advised to independently verify all utility and building details.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.8472
    Latitude
    38.2909

    Nearby Similar for Sale

    • $299,900

      8.8 Acres in Floyd County

      Land parcel offering peaceful country living with endless potential.
      2190 Two Mile Lane, New Albany, IN 47150
      View Details
    • $10,000

      Land in New Albany, IN

      Land with convenient access to I-265, shopping, dining.
      3517 Kamer Miller Road, New Albany, IN 47150
      View Details
    • $500,000

      New Albany Development Opportunity

      9.19+/- acres of prime real estate in New Albany, IN.
      2639 & 2705 Paoli Pike, New Albany, IN 47150
      View Details
    • $495,000
      2,836 SF

      Former Fast Food Restaurant Available

      2,836 SF restaurant on 1.02 acres for sale.
      2601 Charlestown Rd, New Albany, IN
      View Details
    • $650,000
      2,782 SF

      Super Wash Car Wash Opportunity

      Car wash on 0.8159 acres, potential for retail/commercial redevelopment.
      3108 Blackiston Mill Rd, New Albany, IN
      View Details
    • $795,000
      4,712 SF

      Downtown New Albany Office Building

      Updated office building in revitalized downtown area with parking.
      320 E Elm St, New Albany, IN
      View Details
    • $49,900

      Ohio River View Building Lot

      0.46-acre building lot with stunning Ohio River views.
      6369 State Road 111, New Albany, IN 47150
      View Details
    • $40,000

      Residential Land in Established Neighborhood

      Homesite in desirable location near amenities and interstate access.
      312 Pimlico Drive, New Albany, IN 47150
      View Details
    • $49,900

      Residential Land in Quiet Location

      Serene 2.4 acre lot near downtown New Albany, Indiana.
      2.4 +/- AC Powder House Lane, New Albany, IN 47150
      View Details
    • $475,000

      Prime Commercial Land Opportunity

      1.46 acres of build-ready land for commercial development.
      3620 Blackiston Blvd, New Albany, IN
      View Details
    • $74,900

      Residential Lot in Established Neighborhood

      Spacious lot in desirable neighborhood, ready for your dream home.
      2882 Sandalwood Drive, New Albany, IN 47150
      View Details
    • $229,900
      3,816 SF

      Versatile Commercial Property with Apartment

      Corner lot property with storefront and bonus efficiency apartment.
      1945 Indiana Ave, New Albany, IN
      View Details

    FAQs

    What type of property is this?
    Land - Building lot with captivating Ohio River views near Casino.
    Where is this land located?
    The property is located at 6369 IN-111 New Albany, IN.
    What is the asking price?
    The asking price for this property is $49,900.
    What are key features of this property?
    This property features: Stunning views of the Ohio River; Conveniently located near the Casino; Picturesque views along the riverbanks
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Stephannie Wilson
    Real Estate License ID: RB14039714
    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!