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

    440 S Gardner Street Scottsburg, IN 47170

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $325,000

    Commercial property with 8 units and complete occupancy.

    Type:Office
    Added:
    Jan 14, 2024
    Days on Market:
    829
    Last Refresh:
    Apr 1 at 8:58 pm

    Property Features for 440 S Gardner Street

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Jack Bridgewater Real Estate

    Listing agent Jack Bridgewater Real Estate

    Listing office

    Listing date Jan 14, 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 Jack Bridgewater Real Estate

    Overview

    Fully Occupied Commercial Property

    This commercial property features complete occupancy and includes one large building with a storefront office. The building also contains a 2-bedroom, 1-bath apartment upstairs and four 1-bedroom, 1-bath apartments downstairs. Additionally, there are two separate buildings, each containing a 1-bedroom, 1-bath apartment. A coin laundry is available for tenant use. Each unit is equipped with central heat and air, and all appliances are included. The property has a large blacktop parking area and road frontage on Hwy 31/S. Gardner St. Utilities are currently included in the monthly rent. This property is located in Scottsburg, IN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jill Yount CPA ... Accounting Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsburg
    County
    Scott
    State
    Indiana
    Longitude
    -85.778628
    Latitude
    38.681961

    Nearby Similar for Sale

    • $995,000
      9,180 SF

      Scottsburg Retail Building For Sale

      High-visibility retail building in Scottsburg, Indiana, available for sale.
      395 N Gardner St, Scottsburg, IN
      View Details
    • $99,000

      Versatile Warehouse in Scottsburg, IN

      Spacious warehouse zoned for business and residential use.
      1519 Burton Drive, Scottsburg, IN 47170
      View Details
    • $1,600,000
      7,357 SF

      Versatile Warehouse on 4.49 Acres

      Commercial warehouse on 4.49 acres, ideal for various business uses.
      677 S Cardinal Ln, Scottsburg, IN 47170
      View Details
    • $249,000

      Commercial Building on Highway 31

      3,000 sq ft commercial building with highway frontage.
      841 S Gardner Street, Scottsburg, IN 47170
      View Details
    • $4,500,000
      5,514 SF

      NNN Ground Lease Wawa Investment

      New construction Wawa NNN ground lease with 20-year term.
      1215 W McClain Ave, Scottsburg, IN 47170
      View Details
    • $99,000

      Spacious Scottsburg Warehouse with Loft

      Versatile warehouse with potential for business and residential use.
      1519 Burton Dr, Scottsburg, IN
      View Details
    • $479,900
      1,565 SF

      Private Lakefront Ranch on 21 Acres

      Charming 3-bedroom ranch with private lake and 21 acres.
      1110 W Helton Road, Scottsburg, IN 47170
      View Details
    • $234,900
      2,070 SF

      Commercial Building in Scottsburg Heart

      Commercial building with three tenants in Scottsburg, Indiana.
      179 S Gardner Street, Scottsburg, IN 47170
      View Details
    • $350,000
      4,000 SF

      Retail Space Near Major Intersection

      Retail building with open shop space near high-traffic intersection.
      79 N Gardner St Bld B, Scottsburg, IN 47170
      View Details
    • $129,900

      Commercial Property with Business Potential

      Versatile commercial property with B-1 zoning near Interstate 65.
      34 N Beechwood Avenue, Scottsburg, IN 47170
      View Details
    • $525,000

      Renovated Bar and Restaurant

      Turnkey bar and restaurant with licenses and updated features.
      46&48 S Main Street, Scottsburg, IN 47170
      View Details
    • $2,300,000

      Established Storage Facility with Expansion

      Fully occupied storage facility with expansion potential on 8+ acres.
      1631 W Mcclain Avenue, Scottsburg, IN 47170
      View Details

    FAQs

    What type of property is this?
    Apartment building - Commercial property with 8 units and complete occupancy.
    Where is this apartment building located?
    The property is located at 440 S Gardner Street Scottsburg, IN.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Complete occupancy: Immediate income generation.; 8 Units: Diversified income stream.; Central heat/air in each unit: Tenant comfort and appeal.
    (812) 752-3844
    We can help!
    Listing Contact
    Jack Bridgewater Real Estate
    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!