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

    622 Gospel St Paoli, IN 47454

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,000

    Spacious Paoli property, two lots, great potential.

    Property Features for 622 Gospel St

    General Information

    Property type
    Office properties & Spaces
    Lot Size
    12,197 SF

    Building Details

    Year Built
    1941

    We can help!

    Listing Contact
    Mary McCoskey Finkle
    Mary McCoskey Finkle

    Listing Agency: Mainstreet Realtors Listing Agent: Mary McCoskey Finkle

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

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property in Paoli, Indiana, presents a unique investment opportunity. Encompassing two lots totaling 0.28 acres, the property includes a functional garage at 622 N Gospel Street and an adjacent lot at 612 N Gospel Street. The garage itself is a well-equipped workspace featuring a downdraft ventilated paint booth, ensuring a clean and efficient environment. Six overhead doors provide ample access for vehicles and equipment. The property also boasts a reliable generator, providing power backup during outages. The car lifts within the garage are available for negotiation as part of the sale. The adjacent lot at 612 N Gospel Street offers significant potential for expansion, such as additional parking, once cleared. With its versatile layout and desirable location in Paoli, this property is ideal for a variety of commercial uses, offering both immediate functionality and long-term growth potential. The asking price for this combined property is $399,000. This is a rare opportunity to acquire a substantial commercial property with significant upside in a thriving Indiana community. Serious inquiries are encouraged.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paoli
    County
    Orange
    State
    Indiana
    Longitude
    -86.46618
    Latitude
    38.56349

    Nearby Similar for Sale

    • $650,000
      0.45 Acres

      Mixed-Use Property in Paoli, Indiana

      Carwash, storage units, retail space, and a fourplex on 0.45 acres.
      413 Hackberry St, Paoli, IN 47454
      View Details
    • $320,000
      4,032 SF

      Seven-Unit Investment Property in Paoli

      Seven-unit property with expansion potential on 1.95 acres in Paoli.
      520 SE 3Rd St, Paoli, IN 47454
      View Details
    • $3,090,000
      7,840 SF

      Established Golf Course and Restaurant

      Well-maintained 9-hole golf course with a refurbished restaurant.
      1345 W Leonard Cir, Paoli, IN 47454
      View Details
    • $325,000
      0.59 Acres

      Paoli Retail Building - Main Street

      High-traffic retail space, ample storage. Owner financing available.
      1435 Main St, Paoli, IN 47454
      View Details
    • Contact for pricing
      0.86 Acres

      Prime Paoli Commercial Property

      Two Buildings, 0.86 Acres, Patoka Lake Area
      4421 County Road 640, Paoli, IN 47454
      View Details
    • $120,000

      Paoli Office Building - Main Street

      Prime location, high visibility office space.
      402 Main St, Paoli, IN 47454
      View Details
    • $249,900
      0.28 Acres

      Prime Paoli Commercial Property

      Versatile building, huge space, great location.
      308 Oak St, Paoli, IN 47454
      View Details
    • Contact for pricing
      6.00 Acres

      Paoli, IN Industrial Property Auction

      Six Acres, Seven Buildings, Highway Commercial Zoning
      1200 Main St, Paoli, IN 47454
      View Details
    • Contact for pricing
      0.18 Acres

      Paoli, IN Commercial Lot Auction

      Prime 0.18-acre lot, ideal for building or parking.
      1313 Main St, Paoli, IN 47454
      View Details
    • Contact for pricing
      7.00 Acres

      Paoli Industrial Property Auction

      7+ Acres, Multiple Buildings, Highway Commercial
      1514 Main St, Paoli, IN 47454
      View Details
    • $259,000
      0.36 Acres

      Established Paoli Commercial Building

      High-traffic location, ample parking, great potential.
      329 Gospel St, Paoli, IN 47454
      View Details
    • $50,000
      0.11 Acres

      Paoli Commercial Building - High Visibility

      Prime location, income producing, versatile space.
      111 College Hill St, Paoli, IN 47454
      View Details

    FAQs

    What type of property is this?
    Office property - Spacious Paoli property, two lots, great potential.
    Where is this office property located?
    The property is located at 622 Gospel St Paoli, IN.
    What is the asking price?
    The asking price for this property is $399,000.
    (812) 620-0212
    Request Owner's contact information
    622 Gospel St Paoli, IN 47454
    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.
    622 Gospel St
    Paoli, IN 47454
    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
    622 Gospel St Paoli, IN 47454
    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
    Mary McCoskey Finkle
    Mary McCoskey Finkle
    Real Estate License ID: AD51424708
    (812) 620-0212 (812) 883-9555
    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!