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    301 N Main St Monticello, IN 47960

    Sponsored
    For Sale
    $249,900

    Office, Office/Showroom,Professional - Monticello, IN

    Type:Office
    Lot size:
    0.12 Acres
    Days on Market:
    10
    Last Refresh:
    Feb 27 at 7:06 pm

    Property Features for 301 N Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    Business
    Rooms
    Bathroom 1, Bathroom 2, Office
    Bathrooms
    2
    APN
    91-73-33-000-057.302-021
    Parking
    10
    Interior features
    Drywall, Basement, Office Space
    Exterior features
    Basement, Office Space
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1978
    Floors in Building
    1
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Scott Brown
    Scott Brown

    Lafayette Success Group, LLC (765) 807-7177

    Listing agent Scott Brown (765) 807-7177 License #RB14045146

    Listing date Feb 18, 2026

    MLS# 202605033 Listing URL

    Copyright © 2026 Lafayette Regional 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.

    Learn more

    Property Insight Report

    Overview

    Downtown Monticello Commercial Investment Opportunity

    This commercial investment opportunity is located in downtown Monticello. The solid brick office condo is fully leased through January 1, 2029, with a corporate-signed lease. The current operation boasts over a 9% CAP rate. The lease provides stable income with minimal landlord responsibility, where the owner pays taxes and insurance only. The interior is built out with 9 private offices, cubicle space, a conference/break room, and a partial basement. A serviced fire suppression system is in place. The property is located on a busy corner lot adjacent to multiple city and county facilities. Recently installed curbs and sidewalks enhance access and visibility. The property is part of a two-unit commercial condo with separate ownership. The attached unit may also be available for sale, creating expansion or portfolio opportunities. The property is zoned for business. It is suitable for investors seeking reliable returns or future owner-occupants planning ahead. The lot size is 0.12 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    White
    State
    Indiana
    Longitude
    -86.761512
    Latitude
    40.747444

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    FAQs

    What type of property is this?
    Office space - Fully leased office condo with corporate-signed lease until 2029.
    Where is this office space located?
    The property is located at 301 N Main St Monticello, IN.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Fully leased through January 1, 2029 with a corporate-signed lease, providing stable income.; - Operating at over a 9% CAP rate.; - Minimal landlord responsibility (owner pays taxes and insurance only).
    (765) 807-7177
    Request Owner's contact information
    301 N Main St Monticello, IN 47960
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    Monticello, IN 47960
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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
    301 N Main St Monticello, IN 47960
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    We can help!
    Listing Contact
    Scott Brown
    Scott Brown
    Real Estate License ID: RB14045146
    (765) 807-7177 (765) 714-1971
    Learn more
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