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    601 E Chestnut St Corydon, IN 47112
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    601 E Chestnut St Corydon, IN 47112

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    • Apartment buildings
    • 3,768 SF
    For Sale
    $284,900
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    Residential Income Property Near Park For Sale
    $284,900
    3,768 SF

    Residential Income Property Near Park

    Five-unit residential building near Rice Island Park, fully rented.

    601 E Chestnut Street, Corydon, IN 47112
    View Listing
    Property ID
    US31-2373087
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 601 E Chestnut St

    Year built
    1970
    Property size
    3,768 SF
    Property type
    Apartment buildings

    Description

    5 Plex located right here close to Town! Next to Rice Island Park! Live in one and rent out the others... Please see attached documents for list of apartments and rent income. Parking, shed, nice back yard that backs up to Indian Creek. All units currently rented. Call today for your tour and ... make your investment today!

    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
    Corydon
    County
    Harrison
    State
    Indiana
    Longitude
    -86.118853
    Latitude
    38.2102674

    Comparable in this City

    • Contact for pricing

      Income Producing Mobile Home Property

      Five surveyed lots with rental mobile homes near interstate.
      4608 Old Highway 135 NE, Corydon, IN 47112
      View Details
    • $299,900

      Commercial Land Ready For Development

      0.95 acre commercial land parcel ready for development.
      Pacer Dr, Corydon, IN 47112
      View Details
    • Contact for pricing

      Downtown Corydon Garage with Living

      Garage with office, parking, and living space in Corydon.
      207 W Walnut St, Corydon, IN 47112
      View Details
    • Contact for pricing

      34 Acres Commercial Land Lanesville

      34 acres of commercial land near I-64 exit ramp.
      6420 NE Corydon Ridge Rd, Corydon, IN 47112
      View Details
    • $266,000

      Prime Commercial Land Opportunity

      0.95-acre commercial land with high visibility and easy access.
      Pacer Dr, Corydon, IN 47112
      View Details
    • Contact for pricing

      Historic Corydon Office Building For Sale

      Commercial building in historic downtown Corydon, suitable for office space.
      113 N Oak St, Corydon, IN 47112
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Income Producing Mobile Home Property

      Five surveyed lots with rental mobile homes near interstate.
      4608 Old Highway 135 NE, Corydon, IN 47112
      View Details
    • $59,999
      2.34 Acres

      Secluded Land with River Proximity

      Secluded 2.34-acre land near O'Bannon Woods and the river.
      Cold Friday Rd, Corydon, IN 47112
      View Details
    • $3,250,000

      79-Room Hotel in Corydon, Indiana

      79-room Baymont Inn & Suites in historic Corydon, Indiana.
      2495 Landmark Ave NE, Corydon, IN 47112
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    • $2,400,000

      58-Room Hotel in Corydon, Indiana

      58-room Super 8 hotel off I-64 in Corydon, Indiana.
      168 Pacer Ct Northwest, Corydon, IN 47112
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    • $159,000

      Commercial Lot Near I-64

      One acre commercial lot for development near I-64.
      Landmark Ave, Corydon, IN 47112
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      13,200 SF

      Office/Warehouse Building with Dock Door

      13,200 SF office/warehouse with dock and drive-in doors.
      480 Valley Rd, Corydon, IN 47112
      View Details
    • Contact for pricing

      Walmart Anchored Shopping Center Space

      Retail space available in Corydon, Indiana near Louisville.
      2363 Old Highway 135, Corydon, IN 47112
      View Details
    • Contact for pricing

      Retail Space in Corydon, Indiana

      Retail space for lease in busy commercial corridor.
      2421 Landmark Ave NE, Corydon, IN 47112
      View Details
    • $12 SF/Yr

      Retail/Office Suite Near I-64

      1,600 SF retail/office suite with excellent visibility and parking.
      2018 Indiana 337, Corydon, IN 47112
      View Details
    View Listing
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    601 E Chestnut St
    Corydon, IN 47112
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    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
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