Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Investment Property Title is generated by Realmo AI

    2910 Highway Ave, Highland, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Six-unit mixed-use property in Downtown Highland for sale.

    Type:RETAIL
    Property size:
    8,280 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $102/SF
    Added:
    Sep 24, 2025
    Days on Market:
    241
    Last Refresh:
    Apr 5 at 9:26 pm

    Property Features for 2910 Highway Ave

    General Information

    Standard status
    Active
    Size
    8,280 SF
    Lot size
    0.38 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Dennis Larson

    Listing agent Dennis Larson

    Listing office Diversified Commercial Real Estate

    Listing date Sep 24, 2025

    Source Moodyscre

    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 Diversified Commercial Real Estate

    HighLights

    • 6‑Unit Investment Property
    • Mixed‑Use (4 Apartments & 2 Commercial Units)
    • Located in Downtown Highland

    Overview

    This is a six-unit investment property located in Downtown Highland. The mixed-use building contains four apartments and two commercial units. The property has a size of 8,280 square feet.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $782.1K
    NOI $70,387 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.01M
    NOI $70,387 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.41M
    NOI $70,387 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Retail

    Component $ $/SF
    Gross rent $109.3k $13.20
    − Vacancy −$8.7k −$1.06
    EGI $100.6k $12.14
    − OpEx −$30.2k −$3.64
    NOI $70.4k $8.50
    8,280 SF · lease $13.20/SF/yr · vacancy 8.00% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $1.01M
    $879.8K – $1.17M (±1% cap)
    NOI $70,387 @ 7.0% cap · market cap 8.28%
    Second Best
    Mixed Use
    $847.7K
    $741.7K – $989.0K (±1% cap)
    NOI $59,337 @ 7.0% cap · market cap 6.98%
    Theoretical Best
    Office A
    $1.46M
    $1.28M – $1.71M (±1% cap)
    NOI $102,540 @ 7.0% cap · market cap 12.06%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland
    County
    Vermillion
    State
    Indiana
    Longitude
    -87.4703
    Latitude
    41.5435

    Nearby Similar for Sale

    • $475,000
      1,664 SF

      Highland Retail Opportunity on Kennedy

      Two-unit retail building on Kennedy Avenue with high visibility.
      8327 Kennedy Avenue, Highland, IN 46322
      View Details
    • $199,900
      1,000 SF

      Highland Office Space For Sale

      Professional office space with excellent exposure and easy client access.
      2636 45th Street, Highland, IN 46322
      View Details
    • $339,000
      2,893 SF

      Highland Mixed-Use Investment Opportunity

      Mixed-use property in Highland's Business District with income potential.
      2923 Jewett Avenue, Highland, IN 46322
      View Details
    • $650,000
      2,262 SF

      Highland Restaurant with Drive-Thru

      Turn-key restaurant opportunity on heavily trafficked Indianapolis Boulevard.
      8845 Indianapolis Blvd, Highland, IN 46322
      View Details
    • $699,000

      Established Restaurant Landmark For Sale

      Iconic Highland restaurant with loyal customer base since 1947.
      2904 45th St, Highland, IN 46322
      View Details
    • $1,100,000
      4,472 SF

      Professional Brick Building For Sale

      Well-built commercial building with long-term tenant and investment opportunity.
      2327 45th Street, Highland, IN 46322
      View Details
    • $1,650,000
      18,484 SF

      Highland, IN Office/Medical Building

      18,484 SF office building with medical and professional suites.
      3100 45th Street, Highland, IN 46322
      View Details
    • $199,900
      1,032 SF

      Professional Office Space For Sale

      Office space with full basement and excellent street exposure.
      2636 45th St, Highland, IN, 46322
      View Details
    • $1,120,660

      Highland, IN Medical Office ForSale

      Medical office building for sale in Highland, Indiana.
      2309 45th St, Highland, IN
      View Details
    • Contact for pricing

      Professional Office Space in Highland

      Turnkey office space for lease with utilities included.
      9635 Saric Ct., Highland, IN 46322
      View Details
    • $450,000
      2,414 SF

      Renovated Office Building For Sale

      Renovated office building with two units and redevelopment potential.
      2708 W 45th St, Highland, IN
      View Details
    • $750,000
      5,374 SF

      Versatile Mixed-Use Property with Residence

      Mixed-use property featuring commercial space, residence, and liquor license.
      3447 45th Street, Highland, IN 46322
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Six-unit mixed-use property in Downtown Highland for sale.
    Where is this mixed-use property located?
    The property is located at 2910 Highway Ave Highland, IN.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 6‑Unit Investment Property; Mixed‑Use (4 Apartments & 2 Commercial Units); Located in Downtown Highland
    (219) 836-4740 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dennis Larson
    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

    Thank You for Inquiry
    2910 Highway Ave, Highland, IN
    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!