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    Historic Mixed-Use Property in Freeman Title is generated by Realmo AI

    5732 Wall Street, Freeman, IN 47431

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    Pending
    $164,900

    Personal, House - Freeman, IN

    Type:Single Family Residence
    Property size:
    2,112 SF
    Lot size:
    0.88 Acres
    Added:
    Apr 10, 2025
    Days on Market:
    400
    Last Refresh:
    May 14 at 6:06 am

    Property Features for 5732 Wall Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Residence
    Zoning
    Commercial/ residential
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Kitchen
    Parking
    20
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Living Space
    Exterior features
    Living Space
    Standard status
    Pending
    APN
    60-16-20-100-030.099-017
    Size
    2,112 SF
    Lot size
    0.88 Acres

    Taxes and HOA fees

    Tax Annual Amount
    600

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1910
    Floors in Building
    2
    Flooring type
    Laminate
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Mary Looper

    Listing agent Mary Looper License #RB14027759

    Listing office F.C. Tucker Advantage Realtors 1013 Indianapolis Rd., Greencastle, IN

    Listing date Apr 10, 2025

    MLS# 202512186 Listing URL

    Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Commercially Zoned Property Usable as Residential Home
    • Completely Remodeled Main Floor with New Kitchen and Bathrooms
    • Historic Building (Originally First Freedom Bank)
    • Large Lot: .88 Acre (4 Lots)
    • New Electric, Plumbing, Duct Work, and Flooring
    • Ample Parking with Concrete Driveway and New Sidewalks

    Overview

    This historic two-story building, located in Freeman, Indiana, is zoned for commercial use but can also serve as a residential home. The property comprises four lots totaling 0.88 acres. The main floor has been completely remodeled, featuring waterproof laminate hardwood floors, a new kitchen with backsplash, countertops, and cabinets, new electric and plumbing systems, and remodeled bathrooms. The layout includes two bedrooms, one and a half baths, a laundry room, and a utility room with a barn door. The building has a total of 2112 square feet. The property offers ample parking and new sidewalks are being installed. A concrete driveway leads to the door. New duct work has been installed, and the property is heated by a gas fireplace and cooled by window and portable AC units. Originally the first Freedom bank, this property blends historic charm with modern updates.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Freeman
    County
    Owen
    State
    Indiana
    Longitude
    -86.8508
    Latitude
    39.2107

    FAQs

    What type of property is this?
    Mixed-use property - Remodeled historic building, commercially zoned, suitable for residential or business.
    Where is this mixed-use property located?
    The property is located at 5732 Wall Street Freeman, IN.
    What is the asking price?
    The asking price for this property is $164,900.
    What are key features of this property?
    This property features: Commercially Zoned Property Usable as Residential Home; **Completely Remodeled Main Floor with New Kitchen and Bathrooms**; Historic Building (Originally First Freedom Bank)
    (812) 821-1060
    We can help!
    Listing Contact
    Mary Looper
    Real Estate License ID: RB14027759
    Learn More
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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.

    More about this property
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