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550 W Walnut Street

Frankfort, IN 46041

ActiveListed Feb 4, 2026 · 92 days on market

Key facts

Living area
1,575 sqft
Lot
0.15 acres
Year built
1996
Type
Commercial Sale · Retail
MLS #
22082405
County
Clinton
Total building area
1,575 sqft

About this home

Turnkey Commercial building + Vacant Lot in Prime Frankfort Location!Excellent investment or owner-user opportunity! Updated commercial building originally built for a salon. New roof (2024), facia, A/C (2025), bathroom upgrades, and newer flooring throughout. 4 foot Crawl space. Includes adjacent vacant lot offering room for expansion, additional parking, building perfect to add a drive through access or new development. Great visibility on W. Walnut St. with strong traffic flow. Low-maintenance property with immediate income or redevelopment potential. Property is sold as a package with neighboring lot 506 W Walnut St. listed at MLS# 22082394 for lot pictures and listing information.

Description provided by the listing brokerage.

Exterior

Roof
Asphalt
Parking and garage
AsphaltGuest

Systems

Heating
Forced Air
Cooling
Central Air
Utilities
Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Lot and HOA

Zoning
retail trd

Schools

School district
Community Schools of Frankfort

Taxes

Estimated annual tax
$3,560 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$2,534per month, estimated
Principal and interest $2,092Property tax $297Insurance $145
20% · $83,000
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$415,000
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