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

    Kelley Rd Frankfort, IN 46041

    View on Map
    • Land
    • 88.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Kelley Rd

    Lot size
    88.00 lot acres
    Property type
    Land

    Description

    This exceptional 88-acre property presents a remarkable opportunity for residential development on the southeast edge of Frankfort, Indiana. Conveniently located near the intersection of State Road 28 and 421, this land offers easy access to Frankfort and surrounding areas, providing future residents with seamless connectivity. The property is comprised of two distinct parcels, adding flexibility to development plans. Its location on the edge of town ensures proximity to essential services and amenities while maintaining a desirable suburban setting. The asking price for this expansive tract is $1,992,000. Detailed surveys and site plans are available upon request. This is an ideal location for a variety of residential projects, from single-family homes to larger-scale developments. The substantial acreage allows for creative and expansive design possibilities, catering to a wide range of housing needs and preferences. With its strategic location and significant size, this property represents a compelling investment opportunity for developers seeking to capitalize on the growing demand for residential properties in the Frankfort area. The property's zoning and potential for future development should be independently verified. The address is E Kelley Road, Frankfort, IN 46041, located in Clinton County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Clinton
    State
    Indiana
    Longitude
    -86.5084
    Latitude
    40.2644

    Comparable in this City

    • Value Estimation by Request
      40.00 Acres

      County Road 450

      Land • 40.00 Acres
      0 County Road 450, Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      27.81 Acres

      Frankfort, IN 46041

      Land • 27.81 Acres
      Frankfort, IN 46041
      View Details
    • Value Estimation by Request
      17.88 Acres

      6300 Co Rd 400

      Farms • 17.88 Acres
      6300 Co Rd 400, 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
      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
    • Contact for pricing

      Prime Farmland Block Near Lebanon

      602+/- acre farmland block near Eli Lilly & LEAP District.
      9708 W County Road 300 S, Frankfort, IN 46041
      View Details
    • 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

      Commercial Land Outlot Opportunity

      Outlot opportunity on main corridor near established retailers.
      2401 E Wabash St, Frankfort, IN 46041
      View Details
    • New
      Contact for pricing
      Pending

      Residential Land in Frankfort, IN

      Buildable lot ready for a new home in Frankfort.
      1701 E Clinton 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.
    Kelley Rd
    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
    Kelley Rd, 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!