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506 W Walnut Street, Frankfort, IN 46041

No Subdivision · Clinton County

Key Facts

0.11Lot (acres)

Description

Vacant Residential Lot Sold with an Updated Commercial Building in Frankfort, IN. Rare opportunity to own a residential lot at 506 W Walnut St alongside an updated commercial property at 550 W Walnut St. The vacant lot offers potential for residential build, parking, or expansion (subject to zoning). The adjoining building originally built for a salon can be converted to add a drive through service, extra parking opportunity. New roof, facia, A/C, and modern finishes. Together, these parcels provide flexibility for live/work, mixed-use, or investment possibilities in a convenient, high-visibility location. See BLC#22082405 for pictures and Listing price and information.

Property Information

Property Type

Land

Lot Size

0.11 acres

Zoning

Residential

Days on Market

59

MLS® Listing#

22082394

Property Features

Lot Features

See Remarks

Other Structures

See Remarks

Financial Details

Parcel Number

121010183012000021

Directions

GPS Friendly

Affordability Calculator

$7,000

Estimated monthly payment

$186/mo

Principal $28,000 · Est. interest $39,062 over 30 yrs

Neighborhood Market Statistics

How this home compares to active listings in Frankfort, IN

$333,333
Median Listing Price
46
Median Days on Market
2,377
Median Sq Ft
$162
Median Price / Sq Ft
14
Active Listings
  • This home’s price is 89% below the area median.

Market statistics compiled from active EXIT Realty® and MLS listings in Frankfort, IN.

Location

Map showing the location of 506 W Walnut Street, Frankfort, IN 46041

Points of Interest in Frankfort, IN

Showing the Frankfort area map.

Nearby Schools

  • Frankfort Covenant Academy

    School · 0.9 mi away

  • Community School of Frankfort

    School · 1.0 mi away

  • Green Meadows Intermediate

    Elementary · 1.0 mi away

  • Blue Ridge Primary Elementary School

    Elementary · 1.1 mi away

  • Suncrest Elementary School

    Elementary · 1.1 mi away

  • Frankfort High School

    Secondary · 1.7 mi away

  • Frankfort Middle School

    Secondary · 1.9 mi away

  • Frankfort Schools

    School · 1.9 mi away

  • The Crossing

    School · 2.7 mi away

  • Clinton Prairie School Corporation

    Elementary · 4.4 mi away

  • Clinton Central High School

    Secondary · 6.7 mi away

  • Michigantown Christian Church

    School · 7.2 mi away

  • Mulberry United Methodist Church

    Elementary · 8.9 mi away

  • Rossville Elementary School

    Elementary · 10.2 mi away

  • Rossville Middle/Senior High School

    Secondary · 10.2 mi away

  • Thorntown Elementary School

    Elementary · 11.8 mi away

  • Wainwright Middle School

    Secondary · 12.9 mi away

  • James Cole Elementary School

    Elementary · 14.0 mi away

  • Dayton Elementary School

    Elementary · 14.8 mi away

  • Lebanon Community School Corporation

    School · 15.3 mi away

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EXIT Agents in Frankfort

Listing Courtesy: AXEN Realty LLC - Kathy@Zamora-Homes.com

Listings courtesy of MIBOR as distributed by MLS GRID. IDX information is provided exclusively for consumers’ personal non-commercial use. This data may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed by MLS GRID, use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Last Updated: 2026-02-04

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Data provided by MIBOR. MLS® Listing#22082394. © 2026EXIT Realty®. All rights reserved.