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    307 S High Street West Lebanon, IN 47991

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    For Sale
    $294,900

    Mixed Use - West Lebanon, IN

    Type:Mixed Use
    Property size:
    2,389 SF
    Lot size:
    66.00 Acres
    Added:
    Apr 11, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 15 at 12:06 am

    Property Features for 307 S High Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Zoning
    Commercial
    Parking features
    Assigned
    Standard status
    Active
    APN
    861313120336000010
    Size
    2,389 SF
    Lot size
    66.00 Acres

    Building Details

    Year built
    2001
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Morgan Lape

    Listing agent Morgan Lape License #RB21002412

    Listing office eXp Realty, LLC Counselors Row Ste 200, IN

    Listing date Apr 11, 2026

    MLS# 22093918 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.

    Overview

    Versatile Mixed-Use Commercial Property

    This multi-use commercial property features an inviting entryway leading to a thoughtfully laid-out interior. The layout includes five private office rooms, a convenient kitchenette, ample storage area, and a spacious meeting room suitable for collaboration or client gatherings. A large 22 x 39 central room offers possibilities for open workspace, events, or retail use. The property also features a centrally located bathroom, newly installed in 2025. Significant updates include a new roof installed in 2021, a new HVAC system installed in 2025, and a new water heater installed in 2025. Situated on a generous double lot of 66 acres in the middle of town, this property stands out. The expansive outdoor space allows for ample parking, future expansion, or the addition of another building. With its flexible layout and prime location in West Lebanon, Indiana, this property offers potential for a wide range of commercial uses or event space. The building has a size of 2389 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    B & H Building ... General Contractor West Lebanon Workone ... Employment Agency

    Suggested Use

    Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Department Store HVAC Service (Bike/Boat/Book/etc) Store Veterinary Clinic Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    West Lebanon
    County
    Warren
    State
    Indiana
    Longitude
    -87.386398
    Latitude
    40.269258

    FAQs

    What type of property is this?
    Mixed-use property - Multi-use commercial property with flexible layout and prime location.
    Where is this mixed-use property located?
    The property is located at 307 S High Street West Lebanon, IN.
    What is the asking price?
    The asking price for this property is $294,900.
    What are key features of this property?
    This property features: Prime location on a double lot in the middle of town offers ample parking and expansion possibilities.; Versatile multi‑use commercial property with a large 22 x 39 central room suitable for various purposes.; Recently updated with a **new HVAC system (2025), new water heater (2025), and new roof (2021)**.
    (765) 769-6718
    We can help!
    Listing Contact
    Morgan Lape
    Real Estate License ID: RB21002412
    Learn More
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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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