Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sellersburg Restaurant Property For Sale Title is generated by Realmo AI

    621 S Indiana Avenue, Sellersburg, IN 47172

    View on Map
    Claim this Listing
    For Sale
    $270,000

    Restaurant property for sale in Sellersburg, Indiana, with B1 zoning.

    Type:Business Opportunities
    Added:
    Apr 11, 2023
    Days on Market:
    1153
    Last Refresh:
    May 12 at 9:19 pm

    Property Features for 621 S Indiana Avenue

    General Information

    Standard status
    Active
    Property subtype
    Business Opportunities

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    Mike Kopp

    Listing agent Mike Kopp

    Listing office RE/MAX FIRST-Commercial Group

    Listing date Apr 11, 2023

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX FIRST-Commercial Group

    HighLights

    • Zoned Neighborhood Business District (B1) offering a variety of options for service, retail, and other businesses.
    • Established restaurant location with decades of operation.
    • Existing restaurant infrastructure: hood, 3‑compartment sink, and walk‑in cooler.
    • Plenty of on‑site private parking.
    • Easily accessible from I‑65.
    • Outdoor storage unit included with the property.

    Overview

    This Sellersburg property, zoned Neighborhood Business District ("B1"), is for sale. The B1 zoning is intended to foster a sense of neighborhood identity and provide limited small-scale retail goods and service businesses required for the regular or daily convenience of adjacent residential neighborhoods. The property has operated for decades as a restaurant and has a good base of rooftops in the immediate area. It is easily accessible from I-65 and near Jim O'Neal Ford Dealership, Cracker Barrel, Ramada Inn, and DQ. The property currently has a hood, a 3-compartment sink, and a walk-in cooler. The outdoor storage unit will remain after the property is purchased. The setup is ready for dining and carry-out, and there is plenty of on-site private parking. Being zoned B-1, it has a great variety of options for service, retail, and other uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sellersburg
    County
    Clark
    State
    Indiana
    Longitude
    -85.755464
    Latitude
    38.392254

    Nearby Similar for Sale

    • $699,900
      4,464 SF

      Turnkey Recreation Center with Pool

      Turnkey recreation center with renovated pool facilities, courts, and multi-level office and party space.
      12701 Covered Bridge Road, Sellersburg, IN 47172
      View Details
    • $1,600,000
      9,000 SF

      New Commercial Building Investment Opportunity

      Fully leased, new construction commercial building in high-demand Southern Indiana.
      8000 Hardy Way, Sellersburg, IN 47172
      View Details
    • $1,600,000
      9,200 SF

      New Commercial Building For Sale

      Fully leased commercial building in high-demand Southern Indiana corridor.
      8000 Hardy Way, Sellersburg, IN 47172
      View Details
    • $1.00
      9,950 SF

      Sellersburg Industrial Park Commercial Property

      Like-new industrial building with office and warehouse space for sale.
      5040 Progress Way, Sellersburg, IN 47172
      View Details
    • Contact for pricing
      2,772 SF

      Downtown Office & Apartment Building

      Renovated office and apartment building in Sellersburg's Downtown District.
      301 E Utica Street, Sellersburg, IN 47172
      View Details
    • $525,000
      4,000 SF

      Commercial Property Near Interstate 65

      Move-in ready commercial property with ample parking and storage.
      1226 Bringham Drive, Sellersburg, IN 47172
      View Details
    • $1,333
      1,333 SF

      Office Space with Multiple Rooms

      Office space featuring multiple rooms, reception, and conference area.
      310 Hunter Station Road Unit 314, Sellersburg, IN 47172
      View Details
    • $565
      565 SF

      Office Space for Sale

      Office space featuring two separate offices and waiting area.
      310 Hunter Station Road Unit 328, Sellersburg, IN 47172
      View Details
    • $1,459
      1,459 SF

      Office Space with Open Layout

      Office unit featuring an open space, dressing room, and bathroom.
      310 Hunter Station Road Unit 318, Sellersburg, IN 47172
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant property for sale in Sellersburg, Indiana, with B1 zoning.
    Where is this conventional restaurant located?
    The property is located at 621 S Indiana Avenue Sellersburg, IN.
    What is the asking price?
    The asking price for this property is $270,000.
    What are key features of this property?
    This property features: Zoned Neighborhood Business District (B1) offering a variety of options for service, retail, and other businesses.; Established restaurant location with decades of operation.; Existing restaurant infrastructure: hood, 3‑compartment sink, and walk‑in cooler.
    (812) 283-4778
    We can help!
    Listing Contact
    Mike Kopp
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    621 S Indiana Avenue, Sellersburg, IN 47172
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!