3480 S Us 31, Franklin, IN 46131
- Added:
- May 5, 2026
- Days on Market:
- 54
- Last Refresh:
- Jun 27 at 11:06 pm
Property Features for 3480 S Us 31
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- General Commercial
- Standard status
- Pending
- APN
- 411205024017000004
- Lot size
- 3.00 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- E Nw S5 T11 R5
Listing agent Shelly Johnson License #RB14043056 (317) 882-5900
Listing office Keller Williams Indy Metro S N Emerson Ave Ste 300 48, Greenwood, IN (317) 882-5900
Listing date May 5, 2026
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‑acre commercially zoned property along U.S. Highway 31 in Franklin
- Nearly 650 ft of frontage on US‑31 for strong visibility and easy access
- Existing structure with approximately 1,900+ SF, previously used as retail space
- Zoning supports multiple commercial applications, including auto repair and retail
- Also listed for uses such as child care, with additional residential or office potential mentioned
- Location positioned just outside town with proximity to Camp Atterbury
Overview
The property is positioned just outside town along the high-traffic corridor of U.S. Highway 31, with nearly 650 feet of frontage on US-31. The location emphasizes visibility and accessibility for customers traveling through the corridor. The site also lists proximity to Camp Atterbury as a nearby driver of demand.
Given the flexible General Commercial zoning, the property is presented for a range of business uses. The available use descriptions include auto repair, retail, and child care, among others, making it suitable for owner-operators who want exposure from a major roadway as well as investors or developers evaluating renovation or redevelopment options.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.9k | $16.80 |
| − Vacancy | −$2.2k | −$1.18 |
| EGI | $29.7k | $15.62 |
| − OpEx | −$8.9k | −$4.69 |
| NOI | $20.8k | $10.94 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Franklin
- County
- Johnson
- State
- Indiana
- Longitude
- -86.004178
- Latitude
- 39.426402
