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    250 Alhambra Ave Frankfort, IN 46041

    For Sale
    $415,000

    Versatile 5,490 sq ft office space, ample parking.

    Property size:
    5,490 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 5,490 square foot office building in Frankfort, Indiana, presents a unique investment opportunity. Priced at $415,000, this versatile property boasts a prime location at 250 Alhambra Ave, 46041, with convenient access from both Jackson Street and Alhambra Avenue. The two-story, Class B building, constructed in 1960, sits on a 0.428-square-foot lot and offers 32 parking spaces across two lots. The main floor features a welcoming reception area, eight offices or exam rooms, a conference room, several storage rooms, a laundry room, and three restrooms (one ADA accessible). The lower level includes a large recreation or meeting area, six additional offices or exam rooms, multiple storage rooms, a kitchenette, washer/dryer hookups, and two restrooms (one ADA accessible with a shower). The property is currently vacant and zoned C-Residential, offering flexibility for various uses, including executive, medical, or traditional office space, or even multi-family housing. The building's layout and ample parking make it an ideal space for a variety of businesses or residential conversions. This is a rare opportunity to acquire a substantial property in a desirable location with significant potential.

    Property Features for 250 Alhambra Ave

    General Information

    Property type
    Medical offices
    Square Feet
    5,490 SF
    Class
    B

    Building Details

    Year Built
    1960
    Buildings
    1
    Stories
    2

    HighLights

    • $415,000 asking price for a vacant 5,490 SF office building.
    • Class B property with 32 parking spaces on a 0.428‑acre lot.
    • Two‑story building (1960 construction) offering versatile space suitable for executive, medical, or traditional office use.
    • Features multiple offices/exam rooms, conference room, storage, and ADA‑accessible restrooms on both floors.
    • Convenient location in Frankfort, IN, with access from two streets.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. John F. ... Doctor Center Township of Clinton ... Government Office

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Clinton
    State
    Indiana
    Longitude
    -86.5102148
    Latitude
    40.2728944

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    FAQs

    What type of property is this?
    Medical office - Versatile 5,490 sq ft office space, ample parking.
    Where is this medical office located?
    The property is located at 250 Alhambra Ave Frankfort, IN.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: $415,000 asking price for a vacant 5,490 SF office building.; Class B property with 32 parking spaces on a 0.428-acre lot.; Two-story building (1960 construction) offering versatile space suitable for executive, medical, or traditional office use.
    Request Owner's contact information
    250 Alhambra Ave Frankfort, IN 46041
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    Frankfort, IN 46041
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    Realmo Value Estimation

    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.

    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.

    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
    250 Alhambra Ave Frankfort, IN 46041
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