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    15284 Veterans Lane, Dillsboro, IN 47018

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    For Sale
    $1,390,000

    COMMERCIAL - Dillsboro, IN

    Lot size:
    1.50 Acres
    Added:
    Jan 9, 2026
    Days on Market:
    147
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 15284 Veterans Lane

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    151004100008000004
    Lot size
    1.50 Acres

    Building Details

    Year built
    1947

    We can help!

    Listing Contact
    Pamela Ginder
    Pamela Ginder

    Listing agent Pamela Ginder License #RB14013231

    Listing office RE/MAX Advantage 1 403 George St, Aurora, IN

    Listing date Jan 9, 2026

    MLS# 206663

    Copyright © 2026 Southeastern Indiana Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4 completely updated and remodeled buildings with 5 rental units; 4 units leased through monthly by the owners
    • 3 of the rental units include washer and dryer
    • Utilities include city water (Hoosier Hills), REMC electric, and SE IN natural gas, plus updated septic systems on site
    • City sewer is available from across US 50 for new owners
    • Owner’s residence (to the rear) includes a 4‑bedroom, 2.5‑bath home with open living/dining/kitchen, full basement, and attached 3‑car garage
    • Fresh survey available; includes fishing lake and additional land

    Overview

    This sale includes four completely updated and remodeled apartment buildings with a total of five rental units. The units are described as extremely clean, and three units include washers and dryers. Utilities and site services noted in the materials include city water (Hoosier Hills), electric service through REMC, city gas (SE IN Natural Gas), and updated septic systems on site. A fresh survey is available, and income details are available to qualified buyers.

    The property is located at 15284 Veterans Lane in Dillsboro, Indiana within Dearborn County. An additional item included with the sale is the owner’s residence to the rear, described as a completely updated 4-bedroom, 2.5-bath home with an open living/dining/kitchen area, a full basement, and an attached 3-car garage. The rear portion is also described as including a fishing lake and land.

    For investors or operators seeking an income-oriented multifamily holding, the combination of multiple updated buildings, on-site utilities supported by updated septic systems, and a mix of unit amenities like in-unit laundry in select units can support straightforward property management. City sewer availability is noted from across US 50 by new owners, which may be relevant to future infrastructure planning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Dillsboro
    County
    Dearborn
    State
    Indiana
    Longitude
    -85.0582
    Latitude
    38.9645

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    FAQs

    What type of property is this?
    Apartment building - Four updated apartment buildings with five rental units, including several with in-unit washers and dryers.
    Where is this apartment building located?
    The property is located at 15284 Veterans Lane Dillsboro, IN.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: 4 completely updated and remodeled buildings with 5 rental units; 4 units leased through monthly by the owners; 3 of the rental units include washer and dryer; Utilities include city water (Hoosier Hills), REMC electric, and SE IN natural gas, plus updated septic systems on site
    (812) 926-2278
    We can help!
    Listing Contact
    Pamela Ginder
    Pamela Ginder
    Real Estate License ID: RB14013231
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    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.

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