Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    110 Carolyn Avenue Georgetown, IN 47122

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $500,000

    Prime commercial development property in a growing Georgetown location.

    Property size:
    992 SF
    Price / SF:
    $504/SF
    Added:
    Feb 18, 2024
    Days on Market:
    800
    Last Refresh:
    Apr 1 at 8:35 pm

    Property Features for 110 Carolyn Avenue

    General Information

    Standard status
    Active
    Size
    992 SF
    Property subtype
    Other

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Chuck Lehman

    Listing agent Chuck Lehman

    Listing office RE/MAX Advantage

    Listing date Feb 18, 2024

    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 Advantage

    Overview

    Georgetown Commercial Development Opportunity

    Located at 110 Carolyn Ave, Georgetown, IN 47122, this commercial development property presents an opportunity for growth and success in a bustling area. The property benefits from its proximity to key amenities, residential areas, and major transportation routes. It offers convenient access and visibility, with ample space for a visionary project. The location is primed for growth, offering potential for various commercial ventures, subject to zoning approval.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Building Supply Dental Office Auto Repair Shop Hair Salon Hotel & Motel Gym & Fitness Center Pharmacy Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Floyd
    State
    Indiana
    Longitude
    -85.909387
    Latitude
    38.284172

    Nearby Similar for Sale

    • $43,000

      Residential Land in Georgetown, IN

      1.44 acre lot perfect for building a home.
      10385 Malinee Ott Road, Georgetown, IN 47122
      View Details
    • $85,000

      Residential Land with Panoramic Views

      1.82-acre lot with skyline and valley views in Georgetown, IN.
      1002 Canyon Road, Georgetown, IN 47122
      View Details
    • $1,000,000

      Georgetown Land on SR 64

      4.69 acres of vacant land on SR 64.
      6614 State Road 64 vacant land, Georgetown, IN 47122
      View Details
    • $270,000

      High Visibility Land I-64

      Land with high visibility along I-64 in Georgetown, Indiana.
      1320 W Knable Rd, Georgetown, IN
      View Details
    • Contact for pricing
      1,408 SF

      25-Acre Farm Offered in Tracts

      25-acre farm with home offered in 4 tracts.
      3619 Kepley Road, Georgetown, IN 47122
      View Details
    • $725,000

      Versatile Commercial Property on State Road

      Adaptable commercial space suitable for retail, warehouse, or entertainment.
      8368 State Road 64, Georgetown, IN 47122
      View Details
    • $380,000
      3,278 SF

      Secluded Farm with Development Potential

      Farm with horse barn, pole barn, and development potential.
      6312 Highway 64 NE, Georgetown, IN 47122
      View Details
    • $499,000

      Interstate Corner Lot For Sale

      Commercial land with high visibility, sewer access, and growth potential.
      991 E Knable Road, Georgetown, IN 47122
      View Details
    • $500,000

      High Visibility Land Opportunity

      Land available with high traffic counts in Georgetown, Indiana.
      W Knable Road, Georgetown, IN 47122
      View Details
    • $299,900

      Georgetown Ice Cream Store For Sale

      Turn-key ice cream store with drive-thru in downtown Georgetown.
      9280 State Road 64, Georgetown, IN 47122
      View Details
    • $325,000
      1,639 SF

      Georgetown Home with Acreage & Barn

      Two-bedroom home on five acres with detached garage and pole barn.
      6875 Wolfe Road NE, Georgetown, IN 47122
      View Details
    • $2,800
      4,200 SF

      Maplewood Boulevard Commercial Property For Sale

      Commercial property featuring shop area, offices, and overhead doors.
      521 Maplewood Boulevard, Georgetown, IN 47122
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial development property in a growing Georgetown location.
    Where is this commercial land located?
    The property is located at 110 Carolyn Avenue Georgetown, IN.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime location in Georgetown, IN, offering high visibility and convenient access.; Potential for commercial development (subject to zoning approval).; Ample space available for a visionary project.
    (812) 923-7050
    We can help!
    Listing Contact
    Chuck Lehman
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!