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    109 W Elm St Gaston, IN 47342

    Sponsored
    For Sale
    $89,000

    Retail, Mixed Use - Gaston, IN

    Type:Mixed Use
    Lot size:
    0.11 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 25 at 4:06 pm

    Property Features for 109 W Elm St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Office
    Bathrooms
    2
    APN
    18-02-33-430-001.000-025
    Parking
    10
    Parking features
    Off Street, Paved or Surfaced
    Interior features
    Drywall, Wood, 220 Volts, Display Room, Display Window(s)
    Exterior features
    220 Volts, Display Room, Display Window(s)
    Lot size
    0.11 Acres

    Utilities

    Heating system
    Ceiling, Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Ed Conatser

    F.C.TUCKER/FIVE STAR REAL ESTATE (765) 289-2400

    Listing agent Ed Conatser (765) 289-2400 License #RB14034629

    Listing date Jan 7, 2026

    MLS# 202527300 Listing URL

    Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Gaston Retail/Office Investment Opportunity

    This commercial property features two buildings located on Elm Street, the main east-west thoroughfare in Gaston, Indiana. The first building offers 4,200 square feet of brick interior space suitable for retail, professional, or commercial use. It features high, open-span ceilings. The second building provides 1,000 square feet of finished open space with a restroom, separate power supply, and a paved parking lot serving both buildings. Currently, the second building operates on a month-to-month basis as a mortuary. The property is situated on a 0.11-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gant Funeral Homes Funeral Home

    Suggested Use

    Restaurant Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Hotel & Motel Auto Parts Store Kitchen & Bath HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gaston
    County
    Delaware
    State
    Indiana
    Longitude
    -85.501133
    Latitude
    40.31353

    Nearby Similar for Sale

    • $174,900
      0.55 Acres

      Warehouse and Storage Investment Opportunity

      Warehouse with storage units and outdoor storage potential in Gaston.
      202 Mckinley St, Gaston, IN 47342
      View Details

    FAQs

    What type of property is this?
    Retail space - Two buildings suitable for retail or office use in Gaston.
    Where is this retail space located?
    The property is located at 109 W Elm St Gaston, IN.
    What is the asking price?
    The asking price for this property is $89,000.
    What are key features of this property?
    This property features: - Prime commercial location on Elm Street, the main east-west thoroughfare in Gaston, Indiana.; - Two buildings: **4,200 sq ft brick building** and a 1,000 sq ft finished open space building.; - The 1,000 sq ft building has a separate power supply and its own paved parking lot.
    (765) 744-0899
    Request Owner's contact information
    109 W Elm St Gaston, IN 47342
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    Gaston, IN 47342
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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
    109 W Elm St Gaston, IN 47342
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    We can help!
    Listing Contact
    Ed Conatser
    Real Estate License ID: RB14034629
    (765) 744-0899
    Learn more
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