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

    1189 W Hospital Road Paoli, IN 47454

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $128,000

    Renovated 1800 SF commercial building with expansion potential.

    Type:Business Opportunities
    Property size:
    1,800 SF
    Lot size:
    2.07 Acres
    Added:
    Dec 8, 2022
    Days on Market:
    1238
    Last Refresh:
    Apr 1 at 8:53 pm

    Property Features for 1189 W Hospital Road

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Lot size
    2.07 Acres
    Property subtype
    Business Opportunities

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    Arla Frazier

    Listing agent Arla Frazier

    Listing office F.C. Tucker Company

    Listing date Dec 8, 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 F.C. Tucker Company

    Overview

    Renovated Commercial Building on Acreage

    This 1800 square foot building is located amongst established businesses along a busy corridor, offering convenient access and featuring 80 feet of road frontage on 2.07 acres. The solid brick and block building has been completely renovated with new electrical, plumbing, and HVAC systems. The interior features an open and spacious layout, four plumbed work stations, a separate office, a utility sink, and one bathroom. Additional features include a separate mechanical room, epoxy flooring, and fresh interior paint. Zoned for general industrial use, the property offers a variety of business possibilities. Gravel parking is available, with acreage for expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paoli
    County
    Orange
    State
    Indiana
    Longitude
    -86.483095
    Latitude
    38.563332

    Nearby Similar for Sale

    • $650,000

      Mixed-Use Property in Paoli, Indiana

      Carwash, storage units, retail space, and a fourplex on 0.45 acres.
      413 415 417 419 Hackberry Street, 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 Street, 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
      View Details
    • $410,000
      1,100 SF

      45 Acres Farm with Potential

      45-acre farm with barns, pond, and tillable land.
      225 E Cr 750 S, Paoli, IN 47454
      View Details
    • $1.00
      2,298 SF

      Commercial Buildings Near Patoka Lake

      Commercial buildings near Patoka Lake and Hoosier National Forest.
      4421 W County Road 640 S, Paoli, IN 47454
      View Details
    • $264,000
      3,142 SF

      Established Commercial Building in Paoli

      3142 SF commercial building in established business district.
      1337 W Hospital Road, Paoli, IN 47454
      View Details
    • $399,000

      Working Garage with Paint Booth

      Two lots with a working garage and paint booth.
      622 N Gospel Street, Paoli, IN 47454
      View Details
    • $120,000

      Main Street Commercial Opportunity

      Commercial property with high visibility and ample parking.
      402 W Main Street, Paoli, IN 47454
      View Details
    • $90,000

      Established Car Wash Investment Opportunity

      Five-bay car wash for sale, potential auto detailing expansion.
      117 W Thornton Street, Paoli, IN 47454
      View Details
    • $325,000

      Commercial Building with Finished Office

      Commercial building featuring finished office space and garage bays.
      1435 W Main Street, Paoli, IN 47454
      View Details
    • $279,900
      1,794 SF

      Orange County Berm Home on Acres

      Berm home on 12 acres with barn and creek.
      1833 E Us Highway 150, Paoli, IN 47454
      View Details
    • $249,900
      7,000 SF

      Spacious Church/Recovery Center Opportunity

      Large commercial building suitable for church, recovery center, or business.
      308 S Oak Street, Paoli, IN 47454
      View Details

    FAQs

    What type of property is this?
    Specialty property - Renovated 1800 SF commercial building with expansion potential.
    Where is this specialty property located?
    The property is located at 1189 W Hospital Road Paoli, IN.
    What is the asking price?
    The asking price for this property is $128,000.
    What are key features of this property?
    This property features: Completely renovated with new electrical, plumbing, and HVAC systems.; Zoned General Industrial, offering a variety of business possibilities.; 1800 sq ft solid brick and block building.
    (317) 888-3311
    We can help!
    Listing Contact
    Arla Frazier
    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!