Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Building and Vacant Lot Title is generated by Realmo AI

    1980 Allison Lane, Corydon, IN 47112

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial building and vacant lot suitable for live-work or retail.

    Type:Business Opportunities
    Lot size:
    0.50 Acres
    Added:
    Mar 14, 2022
    Days on Market:
    1546
    Last Refresh:
    May 13 at 8:16 pm

    Property Features for 1980 Allison Lane

    General Information

    Standard status
    Active
    Lot size
    0.50 Acres
    Property subtype
    Business Opportunities

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    Douglas Harritt

    Listing agent Douglas Harritt

    Listing office Harritt Group, Inc

    Listing date Mar 14, 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 Harritt Group, Inc

    HighLights

    • Prime commercial location: Just 1 mile south of I‑64 interchange near IN‑135 business corridor.
    • Income potential: Includes 3 BR‑1 bath living quarters upstairs (currently rented).
    • Versatile use: Ideal for live‑work business, office space, or retail.
    • Includes a two‑car garage and 11 parking spaces on a 1/2 acre lot.
    • Formerly a veterinary hospital: Suited for similar businesses or easy adaptation.
    • Built in 1990: Relatively modern construction.

    Overview

    The property features a commercial building and an adjoining vacant lot. The building was previously occupied by a veterinary hospital and includes a three-bedroom, one-bath living quarters upstairs, which is currently rented, and a two-car garage. The property is situated on a half-acre lot. It is located one mile south of the I-64 interchange, near the IN-135 business corridor. The property is ideal for a live-work business, office space, or retail use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Old Capital Veterinary ... Veterinary Clinic Towsley Kelley DVM Veterinary Clinic The Spaw & Suites Pet Grooming Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Corydon
    County
    Harrison
    State
    Indiana
    Longitude
    -86.1392562
    Latitude
    38.2296958

    Nearby Similar for Sale

    • $2,600,000
      9,500 SF

      Modern Medical Office Building

      Renovated medical office building for sale in Corydon, Indiana.
      2230 Edsel Ln NW, Corydon, IN
      View Details
    • $1,900,000

      Turnkey Wrecker Service For Sale

      Established wrecker service in historic Corydon since 1970.
      1020 Highway 62 NW, Corydon, IN
      View Details
    • $3,250,000

      79-Room Hotel in Corydon, Indiana

      79-room Baymont Inn & Suites in historic Corydon, Indiana.
      2495 Landmark Ave NE, Corydon, IN 47112
      View Details
    • $2,400,000

      58-Room Hotel in Corydon, Indiana

      58-room Super 8 hotel off I-64 in Corydon, Indiana.
      168 Pacer Court Northwest, Corydon, IN 47112
      View Details
    • $1,225,000
      15,934 SF

      Mixed-Use Property For Sale

      Mixed-use property suitable for various commercial purposes.
      1849 Gardner Ln NW, Corydon, IN 47112
      View Details
    • $3,900,000
      2,256 SF

      High-Efficiency Turkey Farm For Sale

      Well-maintained turkey farm with strong contract on 160 acres.
      3335 Pleasure Ridge Road SE, Corydon, IN 47112
      View Details
    • $700,000

      Downtown Corydon Commercial Building For Sale

      Commercial building in historic downtown Corydon, high visibility location.
      201-203 N Capitol Avenue, Corydon, IN 47112
      View Details
    • $284,900
      3,768 SF

      Residential Income Property Near Park

      Five-unit residential building near Rice Island Park, fully rented.
      601 E Chestnut Street, Corydon, IN 47112
      View Details
    • $1,639,000
      15,600 SF

      Lafayette Square Business Center For Sale

      Office buildings on Corydon's north side near Harrison County Hospital.
      2201, 2203, 2205, 2207 Concord Avenue, Corydon, IN 47112
      View Details
    • $575,000
      1,796 SF

      Southern Indiana Farm with Acreage

      91+ acre farm with home and outbuildings near Corydon.
      1720 Walnut Valley Road NW, Corydon, IN 47112
      View Details
    • $275,000

      Historic Corydon Office Building For Sale

      Commercial building in historic downtown Corydon, suitable for office space.
      113 N Oak Street, Corydon, IN 47112
      View Details
    • $345,000
      1,760 SF

      Corydon Home with Acreage

      Brick home on 13 acres with barns near Corydon.
      1770 Fairview Church Road, Corydon, IN 47112
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial building and vacant lot suitable for live-work or retail.
    Where is this mixed-use property located?
    The property is located at 1980 Allison Lane Corydon, IN.
    What are key features of this property?
    This property features: Prime commercial location: Just 1 mile south of I‑64 interchange near IN‑135 business corridor.; Income potential: Includes 3 BR‑1 bath living quarters upstairs (currently rented).; Versatile use: Ideal for live‑work business, office space, or retail.
    (812) 944-0217
    We can help!
    Listing Contact
    Douglas Harritt
    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

    Thank You for Inquiry
    1980 Allison Lane, Corydon, IN 47112
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!