Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    1540 N Morton St Franklin, IN 46131

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available for lease near Tractor Supply and Aldi.

    Property size:
    7,030 SF
    Lot size:
    9.00 Acres

    Property Features for 1540 N Morton St

    General Information

    Size
    7,030 SF
    Lot size
    9.00 Acres

    We can help!

    Listing Contact
    Bryan Chandler
    Bryan Chandler
    Source: Moodyscre

    Listing Agent: Bryan Chandler

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

    Learn more

    Property Insight Report

    Overview

    Retail Space Near US 31

    This property offers approximately 7,030 square feet of inline retail space available for lease. It is located next to Tractor Supply and Aldi, which is scheduled to open in 2026. Situated along US 31/Morton Street, the main retail corridor in Franklin, Indiana, the property benefits from high traffic counts, as well as excellent access and visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Johnson
    State
    Indiana
    Longitude
    -86.066235
    Latitude
    39.492252

    Nearby Similar for Lease

    • Contact for pricing
      178,060 SF

      Commerce Parkway Industrial

      178,060 SF Manufacturing/Warehouse
      1450 Commerce Pkwy, Franklin, IN 46131
      View Details
    • Contact for pricing
      500,000 SF

      Franklin Warehouse with Interstate Access

      500,000 sq ft warehouse with immediate interstate access.
      500 Bartram Pkwy, Franklin, IN 46131
      View Details
    • Contact for pricing
      3,436 SF

      Franklin Professional Park Offices

      Medical & Executive Suites Available
      1140 Jefferson St, Franklin, IN 46131
      View Details
    • Contact for pricing
      64,480 SF

      Franklin Industrial Space with Rail Access

      64,480 SF industrial space with expansion capabilities and rail access.
      800 Industrial Dr, Franklin, IN 46131
      View Details
    • Contact for pricing
      275,000 SF

      Franklin Tech Park Warehouse Space

      Modern industrial warehouse, flexible lease options.
      500 Bartram Pkwy, Franklin, IN 46131
      View Details
    • $9,000 /Mo
      4,479 SF

      Auto Shop/Showroom on SR 135

      4,500 SF auto shop/showroom with frontage on SR 135.
      39 S State Road 135, Franklin, IN 46131
      View Details
    • Contact for pricing
      2,097 SF

      Freestanding Restaurant with Drive-Thru Potential

      Freestanding restaurant on 0.76 acres with drive-thru potential.
      440 N Morton St, Franklin, IN 46131
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Meijer

      New retail development with 1,600 SF available for lease.
      2156-2182 N Morton St, Franklin, IN 46131
      View Details
    • $3 SF/Yr
      434,150 SF

      Franklin Warehouse and Distribution Space

      Large industrial space available for lease in Franklin, Indiana.
      180 Bartram Pkwy, Franklin, IN
      View Details
    • Contact for pricing
      32,000 SF

      Retail Space in Franklin, Indiana

      Up to 32,000 SF available in Franklin, Indiana.
      31 S & Commerce Dr, Franklin, IN 46131
      View Details
    • Contact for pricing
      2,312 SF

      Franklin Retail Center Space Available

      Retail space for lease in Franklin's largest shopping center.
      2239 N Morton St, Franklin, IN 46131
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available for lease near Tractor Supply and Aldi.
    Where is this retail space located?
    The property is located at 1540 N Morton St Franklin, IN.
    What are key features of this property?
    This property features: - Located next to Tractor Supply and Aldi (opening 2026); - +/- 7,030sf inline space available for Lease; - Located along US 31/Morton St, Franklin’s main retail corridor
    (317) 614-9400
    Request Owner's contact information
    1540 N Morton St Franklin, IN 46131
    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.
    1540 N Morton St
    Franklin, IN 46131
    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
    1540 N Morton St Franklin, IN 46131
    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
    Bryan Chandler
    Bryan Chandler
    Real Estate License ID: RB14027408
    (317) 614-9400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.