Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    County Road 450 Frankfort, IN 46041
    Back to Search
    Property profile & analytics

    County Road 450 Frankfort, IN 46041

    View on Map
    • Retail properties & Spaces
    • 40.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 County Road 450

    Lot size
    40.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 40-acre site presents a prime opportunity for a mixed-use development in Frankfort, Indiana. Ideally situated just five minutes east of I-65, via State Road 28, this property boasts a strategic location between the Frankfort Industrial Park and Clinton Prairie High School. The site offers 10 acres designated for retail development, featuring approximately 1500 feet of frontage along the south side of State Road 28. An additional 30 acres are available for mixed-use residential development, suitable for high-density garden-style apartments, single-family attached homes, and single-family detached homes. All utilities are readily available on-site, including water, sanitary sewer, power, and high-speed fiber. Currently zoned AG, the property benefits from Clinton County's efficient zoning process, streamlining the approval timeline. The seller is willing to consider dividing the land to accommodate various development plans. This location offers unparalleled access to major transportation routes and a thriving community, making it an exceptional investment opportunity. The intersection of State Road 28 and County Road 450 West provides excellent visibility and accessibility. This is a rare chance to acquire a large parcel of land with significant development potential in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Clinton
    State
    Indiana
    Longitude
    -86.59
    Latitude
    40.2771

    Comparable in this City

    • Value Estimation by Request
      88.00 Acres

      Kelley Rd

      Land • 88.00 Acres
      0 Kelley Rd, Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      8,160 SF

      2472 Wabash St

      Neighborhood centers • 8,160 SF
      2472 Wabash St, Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      31,252 SF

      1921 Wabash St

      Restaurants • 31,252 SF
      1921 Wabash St, Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      37.00 Acres

      I-65 & Sr 28

      Land • 37.00 Acres
      I-65 & Sr 28, Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      15.89 Acres

      900 Blinn Ave

      Land • 15.89 Acres
      900 Blinn Ave, Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      47.23 Acres

      County Rd 375

      Land • 47.23 Acres
      0 County Rd 375, Frankfort, IN 46041
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Outlot Opportunity

      0.75 AC outlot available on main corridor.
      2401 E Wabash St, Frankfort, IN 46041
      View Details
    • Contact for pricing
      5,490 SF

      Versatile Office Building with Potential

      Adaptable 5,490 SF office building suitable for various uses.
      250 Alhambra Ave, Frankfort, IN 46041
      View Details
    • $500,000
      2,700 SF

      Corner Lot Commercial Property

      Adaptable commercial space in Frankfort's thriving business district.
      359 N Jackson St, Frankfort, IN 46041
      View Details
    • $349,900
      6,017 SF

      Versatile Building in Historical District

      Adaptable building near Downtown Frankfort with potential for various uses.
      408 E Washington St, Frankfort, IN 46041
      View Details
    • $200,000

      Automotive Building in Frankfort, IN

      Free-standing automotive building with ample parking in Frankfort, Indiana.
      452 N Main St, Frankfort, IN 46041
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      1,600 SF

      Retail Space with High Visibility

      Retail space with high visibility and ample parking available.
      2472-2488 E Wabash St, Frankfort, IN 46041
      View Details
    • $650 /Mo
      750 SF

      Office Space For Rent

      Office space available for rent, great location and value.
      5 S Main St, Frankfort, IN 46041
      View Details
    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.
    County Road 450
    Frankfort, IN 46041
    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
    County Road 450, Frankfort, IN, 46041
    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!