Add Listing
    For Sale
    • 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

    811 Pearl St Columbus, IN 47201

    View on Map
    Sponsored
    For Sale
    $389,900

    Multi-Family 5+ - Columbus, IN

    Property size:
    3,432 SF
    Lot size:
    0.19 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 6 at 3:06 am

    Property Features for 811 Pearl St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi Family Residential
    Rooms
    Basement
    APN
    039524420003200005
    Basement Y/N
    1
    Size
    3,432 SF
    Lot size
    0.19 Acres

    Building Details

    Number of units
    5
    Architectural style
    Other

    We can help!

    Listing Contact
    Brigette Nolting

    RE/MAX Real Estate Professionals (812) 372-2200

    Listing agent Brigette Nolting (812) 372-2200 License #RB14019760

    Listing date Mar 5, 2026

    MLS# 22087578 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

    Columbus Multifamily Investment Opportunity

    This multifamily property, located blocks from downtown Columbus, Indiana, features five income-producing units. The property includes on-site laundry facilities and three parking spots. A 1.5-car garage is present, offering potential for additional rental income. All units are currently rented. The property has a contract for a new roof installation. The lot size is 0.19 acres. The property size is 3432 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Bartholomew
    State
    Indiana
    Longitude
    -85.917091
    Latitude
    39.207187

    Nearby Similar for Sale

    • $765,000
      500 SF

      Grandview Lake Getaway with Boathouse

      Custom boathouse on Grandview Lake with 95 ft shoreline.
      11311 W Grandview Dr, Columbus, IN 47201
      View Details
    • New
      $489,000
      0.34 Acres

      Columbus Quadruplex: Investment Opportunity

      Four rental units across three buildings, generating immediate cash flow.
      1220 Iowa St, Columbus, IN 47201
      View Details
    • New
      $389,900
      3,702 SF

      Multi-Family Investment Property

      Five-unit income property near downtown Columbus, Indiana.
      1105 17Th St, Columbus, IN 47201
      View Details
    • $149,900
      1 SF

      Mixed-Use Investment Opportunity

      Two income-producing properties: residential and commercial lot.
      2060 State St, Columbus, IN 47201
      View Details
    • New
      $89,000
      Pending

      Columbus Duplex For Sale

      Residential income property in Columbus, Indiana.
      924 Pearl St, Columbus, IN 47201
      View Details
    • $1,676,000
      9,400 SF

      Two Mile House Investment Opportunity

      Two commercial condominium units for sale with long-term tenants.
      3528 W Two Mile House Rd, Columbus, IN 47201
      View Details
    • Contact for pricing
      90,794 SF

      Historic Office Building & Conference

      Three buildings near Cummins HQ, including a National Historic Landmark.
      525 Jackson St, Columbus, IN 47201
      View Details
    • Contact for pricing
      36,542 SF

      36,542 SF Theater on 6.83 Acres

      Freestanding 12-screen movie theater with ample parking in Columbus, IN.
      555 Creekview Ct, Columbus, IN 47201
      View Details
    • Contact for pricing

      Columbus Industrial Property For Sale

      Industrial property available for purchase in Columbus, Indiana.
      635 S Mapleton St, Columbus, IN 47201
      View Details
    • $419,900
      2,750 SF

      State Street Mixed-Use Gem

      Prime Columbus Location, Updated Building
      1801 State St, Columbus, IN 47201
      View Details
    • Contact for pricing
      1,339 SF

      Downtown Loft with Historic Charm

      Stunning loft in downtown Columbus with modern design and historic charm.
      410 6Th St, Columbus, IN 47201
      View Details
    • Contact for pricing
      15,356 SF

      Columbus IN Office Complex

      Prime Columbus location, 75,000+ SF, 3 buildings
      525 Jackson St, Columbus, IN 47201
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five-unit income property near downtown Columbus, Indiana.
    Where is this apartment building located?
    The property is located at 811 Pearl St Columbus, IN.
    What is the asking price?
    The asking price for this property is $389,900.
    What are key features of this property?
    This property features: - Prime location, blocks from downtown; - 5 income-producing units, all currently rented; - New roof to be installed (seller contract)
    (812) 372-2200
    Request Owner's contact information
    811 Pearl St Columbus, IN 47201
    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.
    811 Pearl St
    Columbus, IN 47201
    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
    811 Pearl St Columbus, IN 47201
    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
    Brigette Nolting
    Real Estate License ID: RB14019760
    (812) 372-2200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!