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    Flex Storage and Warehouse Building Title is generated by Realmo AI

    1958 State Road 135 N, Nashville, IN 47448

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    Claim this Listing
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    For Sale
    $349,900

    Mixed Use - Nashville, IN

    Type:Mixed Use
    Property size:
    3,348 SF
    Lot size:
    2.71 Acres
    Price / SF:
    $104/SF
    Added:
    Jun 1, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 9:06 pm

    Property Features for 1958 State Road 135 N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Zoning
    B-3
    Standard status
    Active
    APN
    070613100267000005
    Size
    3,348 SF
    Lot size
    2.71 Acres

    Utilities

    Heating system
    Wall Furnace
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1951
    Roof type
    Asphalt, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jillian Tran
    Jillian Tran

    Listing agent Jillian Tran License #RB14044062

    Listing office RE/MAX Real Estate Prof 1st Street, Columbus, IN

    Listing date Jun 1, 2026

    MLS# 22105538 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3,348 SF commercial building on 2.70 acres at 1958 State Road 135 N with approximately 300 ft of road frontage
    • Originally built as a motel and converted to storage use, with some interior walls removed for flexible space
    • Overhead roll‑up door included
    • Roof includes asphalt and metal
    • Heating: wall furnace; cooling: multi‑units and window unit(s)
    • Property includes a pond and room for expansion or redevelopment

    Overview

    This 3,348-square-foot commercial building offers flex storage and warehouse-style utility on 2.7 acres. The property was originally built as a motel and has since been converted to storage use, with some interior walls removed to create a more adaptable interior layout. An overhead roll-up door supports loading and storage needs, and the site also includes a pond.

    Situated at 1958 State Road 135 N, the property benefits from approximately 300 feet of road frontage, providing strong visibility and straightforward access for commercial operations. The combination of a prominent site, existing structure, and room for expansion or redevelopment makes it well-suited for buyers looking for options beyond a single-purpose build.

    Zoned B-3, the building’s flexible configuration may appeal to investors or owner-operators seeking storage-oriented space with the ability to reconfigure the interior further. The existing overhead door and open storage potential can fit a range of commercial uses, while the large site offers practical pathways for expansion or future redevelopment plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Hotel & Motel Pharmacy Auto Parts Store Storage Facility Electrical Service Shopping Center & Mall Bed & Breakfast

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

    Similar Places Nearby

    • Homegrown Hospitality of Brown County — 156 Ridgeway Dr, Nashville, IN 47448

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Brown
    State
    Indiana
    Longitude
    -86.253869
    Latitude
    39.224186

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    FAQs

    What type of property is this?
    Flex space - Conversion-friendly commercial building with overhead door, road frontage, and expansion potential on 2.7 acres.
    Where is this flex space located?
    The property is located at 1958 State Road 135 N Nashville, IN.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: 3,348 SF commercial building on 2.70 acres at 1958 State Road 135 N with approximately 300 ft of road frontage; Originally built as a motel and converted to storage use, with some interior walls removed for flexible space; Overhead roll‑up door included
    (812) 372-2200
    We can help!
    Listing Contact
    Jillian Tran
    Jillian Tran
    Real Estate License ID: RB14044062
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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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