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

    12949 N State Road 56 Vevay, IN 47043

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $129,900

    Three-bay garage with office in central location.

    Type:Office
    Added:
    Dec 18, 2022
    Days on Market:
    1228
    Last Refresh:
    Apr 1 at 9:31 pm

    Property Features for 12949 N State Road 56

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1919

    We can help!

    Listing Contact
    Alaina Tandy

    Listing agent Alaina Tandy

    Listing office Century 21 River Valley

    Listing date Dec 18, 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 Century 21 River Valley

    Overview

    Established Auto Service Shop

    This property features a three-bay garage with an office, offering 10'-12' ceilings and doors. An established auto service shop has operated from this location for approximately 20 years. The property is centrally located at the East Enterprise intersection of State Roads 56/250, within walking distance to groceries, gas, and food. The area experiences a high volume of rural commuter traffic daily, serving as a major pathway to Lawrenceburg, Rising Sun, Vevay, Madison, Versailles, Markland Dam, Cincinnati, OH, Warsaw, KY, and Interstate 71. The property is accessible to semi and heavy trucks, presenting a prime rural commercial opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Food Market Grocery & Convenience Store Grocery & Convenience Store Daycare Center Arcade & Gaming Center Restaurant

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

    Similar Places Nearby

    • Larry's Auto — 12820 IN-56, Vevay, IN 47043
    • Ricks Auto Body — 12422 IN-250, Rising Sun, IN 47040

    Location Insight

    • Map
    • Local Demand
    City
    Vevay
    County
    Switzerland
    State
    Indiana
    Longitude
    -84.98823
    Latitude
    38.871952

    Nearby Similar for Sale

    • $129,900

      East Enterprise Commercial Building Opportunity

      Commercial building in East Enterprise with business opportunity.
      13294 N State Rd 56, Vevay, IN 47043
      View Details
    • $799,000
      1,476 SF

      Vevay Farm with Acreage

      Former dairy farm with barns, paddocks, and wooded acreage.
      5558 N State Rd 56, Vevay, IN 47043
      View Details
    • $490,000
      2,010 SF

      Vevay Warehouse and Office Space

      Warehouse and office space on 4.03 acres for sale.
      5 Ogle Industrial Park Drive, Vevay, IN 47043
      View Details
    • $169,900

      Thriving Pizza Place in Vevay

      Turnkey pizza restaurant in historic downtown Vevay, Indiana.
      211 Ferry Street, Vevay, IN 47043
      View Details
    • $385,900
      1,632 SF

      Amish Farm with Pole Barn

      51 acre Amish farm with custom built pole barn.
      9700 Lewis Drive, Vevay, IN 47043
      View Details
    • $189,900
      1,792 SF

      Amish Farmhouse on Fenced Acres

      Farmhouse on 9.1 acres with barns and fenced pastures.
      10461 Elam Road, Vevay, IN 47043
      View Details
    • $237,500
      1,128 SF

      Ohio Riverfront Farm Paradise

      50+ acre farm with river frontage and multiple barns.
      2889 E State Road 56, Vevay, IN 47043
      View Details

    FAQs

    What type of property is this?
    Auto shop - Three-bay garage with office in central location.
    Where is this auto shop located?
    The property is located at 12949 N State Road 56 Vevay, IN.
    What is the asking price?
    The asking price for this property is $129,900.
    What are key features of this property?
    This property features: Three‑bay garage with office space; Central location at the East Enterprise intersection of State Roads 56/250; High traffic volume; major pathway to multiple cities and I‑71
    (812) 273-1234
    We can help!
    Listing Contact
    Alaina Tandy
    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!