506 W Walnut St, Frankfort, IN 46041

--beds

--baths

4,791Square Feet

Unimproved Land, Residential Lots

Built in ----

4,791 Square Feet Lot

$-- Zestimate^®

$--/sqft

$-- HOA

What's special

Vacant residential lotHigh-visibility location

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.

211 days
195
6

Facts & features

Property

Lot

Size: 4,791 Square Feet
Features: Not In Subdivision, Sidewalks, See Remarks, Rectangle
Topography: See Remarks

Details

Additional structures: See Remarks
Parcel number: 121010183012000021
Zoning: Residential
Special conditions: As Is,Package,Other
Horse amenities: None

Utilities & green energy

Water: See Remarks

Community & HOA

Community

Subdivision: No Subdivision

Location

Region: Frankfort

Financial & listing details

Tax assessed value: $3,300
Annual tax amount: $206
Date on market: 2/5/2026
Cumulative days on market: 328 days
Listing terms: See Remarks

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
2/5/2026	Listed for sale	$35,000-93.5%
Source: MIBOR as distributed by MLS GRID #22082394 Report a problem
1/21/2026	Listing removed	$535,000
Source: eXp Realty #22072870 Report a problem
11/11/2025	Listed for sale	$535,000
Source: MIBOR as distributed by MLS GRID #22072870 Report a problem
11/10/2025	Listing removed	$535,000
Source: MIBOR as distributed by MLS GRID #22069385 Report a problem
10/21/2025	Listed for sale	$535,000+1173.8%
Source: MIBOR as distributed by MLS GRID #22069385 Report a problem
7/24/1998	Sold	$42,000
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$73 -2.4%	$3,300
2024	$75 +0.7%	$3,300
2023	$75 -1.8%	$3,300
2022	$76 -1.2%	$3,300
2021	$77 -0.2%	$3,300
2020	$77 -15.5%	$3,300
2019	$91 -78%	$3,300
2018	$415 -3.7%	$3,300 -80.7%
2017	$431 +11.4%	$17,100 +2.4%
2016	$387 +9.4%	$16,700 -5.6%
2014	$354 +7.3%	$17,700 +7.3%
2013	$330 -49.2%	$16,500 -49.2%
2012	$650 -17.1%	$32,500 -14.2%
2011	$784 -6%	$37,900 -6.2%
2010	$834 -6.1%	$40,400 -6.3%
2009	$888	$43,100 +0.5%
2006	--	$42,900 +14.7%
2005	--	$37,400