Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    117 W Elm St Lebanon, IN 46052

    Sponsored
    For Lease
    $1,350 /Mo ($15 SF/Yr)

    Business - Lebanon, IN

    Type:Business
    Property size:
    1,062 SF
    Lot size:
    0.19 Acres
    Days on Market:
    24
    Last Refresh:
    Feb 1 at 10:06 am

    Property Features for 117 W Elm St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Business
    Standard status
    Active
    Zoning
    Commercial
    APN
    061036031012012002
    Size
    1,062 SF
    Lot size
    0.19 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Davon Lee

    HOPE Realty, LLC (317) 593-5677

    Listing agent Davon Lee (317) 593-5677 License #RB14032730

    Listing date Jan 9, 2026

    MLS# 22079286 Listing URL

    Copyright © 2026 MIBOR Service Corporation. 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

    Versatile Commercial Space in Lebanon

    This commercial building in Lebanon, Indiana, offers a versatile space suitable for various business needs. The property features 1062 square feet of commercial space on a 0.19-acre lot. The interior includes three separate, mostly open spaces that can be easily configured to suit specific business requirements. Additional amenities include interior storage space, a kitchen, and a half-bath. A parking lot is available for customers and staff. There is also an opportunity to rent an adjacent large storage shed. The property benefits from its location with visibility from Lebanon Street, a heavily traveled road.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chicken Nugget and Gang Non-Profit Organization

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Boone
    State
    Indiana
    Longitude
    -86.469145
    Latitude
    40.043947

    Nearby Similar for Lease

    • $1,890 /Mo

      Spacious Condo with Modern Updates

      Updated 3-bedroom, 2-bath condo with included utilities and detached garage.
      1711 Lafayette Ave, Lebanon, IN 46052
      View Details
    • $168 SF/Yr
      6,420 SF

      Lebanon Industrial Flex Space

      New 6,420 SF Flex Space - Immediate Occupancy
      1334 Main St, Lebanon, IN 46052
      View Details
    • Contact for pricing
      1,346,100 SF

      Lebanon Industrial Mega-Warehouse

      Modern Refrigerated Warehouse Space Available
      0 John Shaw Rd, Lebanon, IN 46052
      View Details
    • Contact for pricing
      26,524 SF

      Monument Dr Warehouse Space

      Lebanon, IN Warehouse - Multiple Suites Available
      947 Monument Dr, Lebanon, IN 46052
      View Details
    • Contact for pricing
      20,600 SF

      Prime Medical Office Sublease in Boone County

      4,264 SF Medical Office Space Available
      1310 Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing
      255,466 SF

      Lebanon Industrial Space for Lease

      255,466 SF industrial space with 36' clear height.
      558 Airtech Pkwy, Lebanon, IN
      View Details
    • Contact for pricing
      4,264 SF

      Medical Office Space Available

      Sublease available in established medical building with easy highway access.
      1310 South Lebanon St, Lebanon, IN 46052
      View Details
    • $30 SF/Yr
      2,600 SF

      New Retail Space with Drive-Thru

      New construction retail space with drive-thru and pylon signage.
      4250 S State Road 267, Lebanon, IN 46052
      View Details
    • $13 SF/Yr
      9,840 SF

      Lebanon Warehouse with Excellent Access

      Warehouse space with convenient I-65 access and local management.
      953 Monument Dr, Lebanon, IN 46052
      View Details
    • Contact for pricing
      2,616 SF

      Retail Space in Village North

      Retail space available in a well-established shopping center.
      2462 North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing

      Retail Center in Lebanon, IN

      Retail center anchored by national and regional tenants.
      North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing
      746 SF

      Retail Space on Main Corridor

      Retail space available on a main retail corridor.
      2222 North Lebanon St, Lebanon, IN 46052
      View Details

    FAQs

    What type of property is this?
    Specialty property - Adaptable commercial building with open spaces and storage in Lebanon.
    Where is this specialty property located?
    The property is located at 117 W Elm St Lebanon, IN.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - Highly visible location on heavily traveled Lebanon St.; - Versatile commercial space with mostly open layout.; - Opportunity to customize the space to business needs.
    (317) 593-5677
    Request Owner's contact information
    117 W Elm St Lebanon, IN 46052
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    117 W Elm St
    Lebanon, IN 46052
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    117 W Elm St Lebanon, IN 46052
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Davon Lee
    Real Estate License ID: RB14032730
    (317) 593-5677
    Learn more
    Google sign-in failed. Please try again or use another login method.