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    Versatile Commercial/Residential Property in Russellville Title is generated by Realmo AI

    210 S Harrison, Russellville, IN 46175

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    Claim this Listing
    For Sale
    $68,000

    Special Use - Russell, IN

    Lot size:
    0.16 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    54
    Last Refresh:
    May 23 at 4:06 am

    Property Features for 210 S Harrison

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    ZO01
    Bathrooms
    14
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Standard status
    Active
    APN
    67-03-05-301-099.000-016
    Lot size
    0.16 Acres

    Building Details

    Floors in Building
    2
    Building materials
    Stone
    Architectural style
    Other

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    Listing Contact
    PEGGY SUN

    Listing agent PEGGY SUN License #RB14041227

    Listing office NEOVA PROPERTY 564 BUCKSKIN COURT, TERRE HAUTE, IN

    Listing date Mar 31, 2026

    MLS# 108937 Listing URL

    Copyright © 2026 Terre Haute Area Association 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.

    HighLights

    • Unique blend of commercial and residential potential on a ZO01 residential‑zoned lot with an existing commercial building.
    • Versatile building ideal for storage, warehouse, inventory management, or workshop. Consider conversion to a residential apartment/live‑work space.
    • Strategic location in the heart of Russellville, Indiana, with easy access to main roads and nearby services.
    • Offers flexibility to adapt to changing needs, making it suitable for entrepreneurs, investors, or local business owners.
    • Potential for business expansion, investment in a flexible property, or creation of a multi‑purpose space.
    • Construction materials include stone.

    Overview

    Located in the heart of Russellville, Indiana, the property at 210 S Harrison Street presents a unique opportunity with both commercial and residential potential. Situated on a 0.16-acre lot zoned ZO01 for residential use, the property features an existing commercial building, offering versatility for entrepreneurs, investors, and local business owners. The building is suitable for storage, warehouse, or inventory management, providing operational flexibility. There is potential to convert part of the space into a residential apartment or live-work setup, blending convenience and functionality. The property offers easy access to main roads and nearby services, connecting seamlessly with residents and businesses. The combination of residential zoning and an existing commercial structure makes it a versatile asset, ideal for those seeking a property that can evolve with changing needs. The property is suited for small business ventures, storage, a workshop, or even a cozy apartment. This property offers possibilities and potential for growth, and is sold as-is. The seller has limited knowledge of its condition.
    Property Profile Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Building Supply Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Russellville
    County
    Putnam
    State
    Indiana
    Longitude
    -86.983632
    Latitude
    39.858286

    FAQs

    What type of property is this?
    Mixed-use property - Unique commercial building on residential lot with endless possibilities.
    Where is this mixed-use property located?
    The property is located at 210 S Harrison Russellville, IN.
    What is the asking price?
    The asking price for this property is $68,000.
    What are key features of this property?
    This property features: Unique blend of commercial and residential potential on a ZO01 residential‑zoned lot with an existing commercial building.; Versatile building ideal for storage, warehouse, inventory management, or workshop. Consider conversion to a residential apartment/live‑work space.; Strategic location in the heart of Russellville, Indiana, with easy access to main roads and nearby services.
    (812) 240-3892
    We can help!
    Listing Contact
    PEGGY SUN
    Real Estate License ID: RB14041227
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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
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