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    1320 W Main St Mitchell, IN 47446

    Sponsored
    For Sale
    $750,000

    Retail - Mitchell, IN

    Type:Retail
    Property size:
    3,794 SF
    Lot size:
    0.81 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 2 at 9:06 am

    Property Features for 1320 W Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Bathroom 1
    Bathrooms
    1
    APN
    47-14-02-120-001.000-005
    Parking
    20
    Parking features
    Paved or Surfaced
    Interior features
    Block, Drywall, Overhead Door 1, Office Space
    Exterior features
    Overhead Door 1, Office Space
    Size
    3,794 SF
    Lot size
    0.81 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1945
    Floors in Building
    1
    Flooring type
    Carpet, Concrete
    Building materials
    Block
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Rosemary Trinkle

    Trinkle Group Real Estate and Appraisals (812) 723-4213

    Listing agent Rosemary Trinkle (812) 723-4213 License #RB140926547

    Listing date Feb 28, 2026

    MLS# 202606413 Listing URL

    Copyright © 2026 Bedford Board of Realtors. 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

    Prime Corner Commercial Opportunity

    Located in Mitchell, Indiana, this commercial opportunity comprises two lots at the corner of Teke Burton Drive and West Main Street. The area is experiencing rapid growth, with new businesses emerging along Highway 37. Currently operating as 4 Point Auto Sales, the property includes a 2066 square foot shop and office on an 80 X 150 lot. Additionally, there is a 1728 square foot garage situated on a 0.53-acre lot directly behind and south of the main facility. The location offers high visibility and is suitable for continued use as is or redevelopment into something new. The corridor experiences significant traffic, making it an active area for business. The combined lot size is 0.81 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    B & L Auto Repair & Radiator, Mitchell Quick Lube, Keith's Alignments, Ron's Auto parts, service and quick lube, Custom Paint & Body

    Location Insight

    • Map
    • Local Demand
    City
    Mitchell
    County
    Lawrence
    State
    Indiana
    Longitude
    -86.484939
    Latitude
    38.731513

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    FAQs

    What type of property is this?
    Auto shop - Two lots in growing area, perfect for development.
    Where is this auto shop located?
    The property is located at 1320 W Main St Mitchell, IN.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - High-visibility corner location at Teke Burton Drive and West Main Street, experiencing the highest traffic volume into town.; - Two lots included: a lot with a 2066 sq ft shop and office (80 X 150 lot) and a second .53 acre lot with a 1728 sq ft garage.; - Located in Mitchell, Indiana, the fastest-growing area in Lawrence County with new businesses emerging along Highway 37.
    (812) 723-4663
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    1320 W Main St Mitchell, IN 47446
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    Mitchell, IN 47446
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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
    1320 W Main St Mitchell, IN 47446
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    We can help!
    Listing Contact
    Rosemary Trinkle
    Real Estate License ID: RB140926547
    (812) 723-4663 (812) 653-7585 (812) 723-4213
    Learn more
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