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

    599 State Route 62 Boonville, IN 47601

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,900

    Prime location, versatile space, new utilities.

    Property Features for 599 State Route 62

    General Information

    Property type
    Other commercial real estate
    Lot Size
    30,492 SF

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Ivan Sanchez Fuentes

    Listing Agency: RE/MAX Results-Goshen Listing Agent: Ivan Sanchez Fuentes

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 0.7-acre commercial property located at 599 W State Route 62, Boonville, IN, presents a unique investment opportunity for discerning entrepreneurs. Priced at $399,900, this versatile building offers a blank canvas for a wide range of business ventures. Imagine establishing your restaurant, office, or retail store in this highly convenient location. The property's adaptability makes it ideal for a variety of uses, allowing you to tailor the space to your specific business needs. The building boasts recently installed modern amenities, including a new mini-split heating and cooling system ensuring year-round comfort. Furthermore, the electrical and plumbing systems have been completely updated, providing peace of mind and operational efficiency. This turnkey solution eliminates the hassle and expense of significant renovations, allowing you to focus on establishing and growing your business. The property's prime location ensures high visibility and accessibility, attracting a steady stream of potential customers. Don't miss this chance to acquire a well-maintained, versatile commercial property in a thriving area. Contact us today to schedule a viewing and explore the possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Auto Repair Shop Hotel & Motel Electronics & Wireless Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Boonville
    County
    Warrick
    State
    Indiana
    Longitude
    -87.25775
    Latitude
    38.03981

    Nearby Similar for Sale

    • $325,000
      3,625 SF

      Boonville Fourplex Investment Opportunity

      All-brick fourplex in Boonville, Indiana, fully rented and ready!
      919 Parkview Dr, Boonville, IN 47601
      View Details
    • $200,000
      1,836 SF

      Boonville Duplex Near Elementary School

      All brick duplex in Boonville, Indiana, near Oakdale Elementary.
      721 S 8Th St, Boonville, IN 47601
      View Details
    • $500,000
      10,330 SF

      Retail Property in Boonville

      Retail property for sale located on the main road.
      310 E Locust St, Boonville, IN 47601
      View Details
    • $175,000
      16,784 SF

      Boonville Warehouse with Renovation Potential

      Large warehouse building in Boonville, priced for needed renovations.
      702 S 7Th St, Boonville, IN 47601
      View Details
    • Contact for pricing

      Historic Saloon with Gaming Potential

      Profitable, remodeled saloon with gaming license opportunity in Boonville.
      118 S 3Rd St, Boonville, IN 47601
      View Details
    • $105,000
      2,952 SF

      Boonville Corner Lot with Buildings

      Commercial property with pole barn and former car wash.
      115 W Mill St, Boonville, IN 47601
      View Details
    • $400,000
      0.40 Acres

      Boonville Commercial Property - High Income Potential

      Income-producing property, Hwy frontage, two buildings.
      966 Aigner Dr, Boonville, IN 47601
      View Details
    • $500,000
      10,330 SF

      310 E Locust St

      Retail space • 10,330 SF
      310 Locust St, Boonville, IN 47601
      View Details
    • $105,000
      2,952 SF

      Boonville Commercial Property

      Two-building corner lot, ideal investment.
      115 Mill St, Boonville, IN 47601
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Prime location, versatile space, new utilities.
    Where is this commercial real estate located?
    The property is located at 599 State Route 62 Boonville, IN.
    What is the asking price?
    The asking price for this property is $399,900.
    (574) 533-9581
    Request Owner's contact information
    599 State Route 62 Boonville, IN 47601
    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.
    599 State Route 62
    Boonville, IN 47601
    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
    599 State Route 62 Boonville, IN 47601
    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
    Ivan Sanchez Fuentes
    (574) 533-9581
    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!