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

    N Terry Road Austin, IN 47102

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $100,000

    Commercially zoned garage suitable for repair shop or dealer.

    Type:Office
    Property size:
    2,400 SF
    Added:
    Aug 3, 2022
    Days on Market:
    1350
    Last Refresh:
    Apr 1 at 8:51 pm

    Property Features for N Terry Road

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Property subtype
    Office

    Building Details

    Year Built
    1940

    We can help!

    Listing Contact
    Casey Elkins

    Listing agent Casey Elkins

    Listing office Kovener & Associates Real Esta

    Listing date Aug 3, 2022

    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 Kovener & Associates Real Esta

    Overview

    Commercially Zoned Garage on Corner

    This commercially zoned property presents an investment opportunity suitable for a garage, repair shop, or dealer location. The garage is insulated and includes a bathroom. The building provides 2,400 square feet of space, complemented by a large lean-to. Situated on a corner lot on State Road 256, the property offers potential for various commercial uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Map

    City
    Austin
    County
    Scott
    State
    Indiana
    Longitude
    -85.738719
    Latitude
    38.73138

    Nearby Similar for Sale

    • $50,000

      Versatile Building with Large Yard

      Building suitable for office, retail, daycare, or residential use.
      40 Rural St, Austin, IN
      View Details
    • $350,000
      2,500 SF

      Wesbanco Bank Building For Sale

      Freestanding Wesbanco bank branch in Austin, Indiana.
      307 W Main Street, Austin, IN 47102
      View Details
    • $54,900
      1,700 SF

      Commercial Building on Corner Lot

      Commercial building with kitchen, bath, gas heat, and A/C.
      590 Mann Avenue, Austin, IN 47102
      View Details
    • $130,000
      780 SF

      7.5 Acres with Rental Home

      Investment property featuring 7.5 acres, pond, and rental income.
      3555 N Bethlehem Road, Austin, IN 47102
      View Details
    • $585,000
      6,000 SF

      Austin Church and Residential Property

      2.37 acres with church, house, and large shed.
      1200-1210 N Church Street, Austin, IN 47102
      View Details
    • $459,900
      3,530 SF

      Horse Farm with Custom Home

      15.92 acre horse farm with custom 3,530 sqft home.
      3396 E Burn Road, Austin, IN 47102
      View Details
    • $99,000

      Mixed-Use Building with Underground Bunker

      Mixed-use property featuring high ceilings and a unique underground bunker.
      1175 N Church Street, Austin, IN 47102
      View Details
    • $95,000

      Commercial Buildings in Austin, Indiana

      Two buildings for one price, suitable for office or retail.
      60 W Main Street, Austin, IN 47102
      View Details

    FAQs

    What type of property is this?
    Auto shop - Commercially zoned garage suitable for repair shop or dealer.
    Where is this auto shop located?
    The property is located at N Terry Road Austin, IN.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Commercially Zoned: Ideal for garage/repair shop or dealer location.; 2,400 Square Feet of Space: Offers substantial workspace.; Large Lean‑To: Provides additional covered storage or work area.
    (812) 565-9048
    We can help!
    Listing Contact
    Casey Elkins
    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!