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    Property profile & analytics

    1702 Main St Plainfield, IN 46168-1849

    • Strip malls
    • 57,602 SF
    • 5.96 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0564125
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Toy Buzz & Fizz / Toy Store / Candy Store
    • CosmoProf / Beauty Supply Store
    • County West Sports / Screen Printer

    Property Details for 1702 Main St

    Year built
    1961
    Construction
    WOOD
    Lot size
    5.96 lot acres
    Property size
    57,602 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    32-10-25-351-001.000-012
    APU
    321025351001000012

    Description

    Plainfield Plaza offers an exceptional retail leasing opportunity in the heart of Plainfield, Indiana. This Class B shopping center boasts 55,000 square feet of space, with a minimum divisible unit of 1,800 square feet and a maximum contiguous space of 1,800 square feet currently available. The property enjoys a strong tenant mix, including established businesses such as Ace Hardware (anchor tenant), Aaron's, Papa Murphy's, Firehouse Subs, Wings Etc., CosmoProf, and American Family Insurance. Its strategic location at the intersection of Main Street and State Road 267 (Quaker Blvd.), a major thoroughfare in Plainfield, ensures high visibility and accessibility. Combined traffic counts at this intersection exceed 47,000 AADT, providing significant exposure to potential customers. The center is conveniently situated adjacent to a Kroger grocery store, further enhancing its appeal and drawing power. This is an ideal opportunity for businesses seeking a vibrant and established retail environment in a high-traffic area. The available space is perfect for a variety of retail or office uses. Interested parties should inquire for further details.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.3771
    Latitude
    39.7113
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $79,696
    $2,229,000
    $1,770,000
    $3,999,000
    -
    $2,229,000
    $1,770,000
    $3,999,000

    Comparable in this City

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      14,296 SF

      2663 Main St

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      6,916 SF

      26672671 Main St

      SHOPPING CENTER, STRIP CENTER • 6,916 SF
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    • Value Estimation by Request
      9,280 SF

      2656 Main St

      SHOPPING CENTER, STRIP CENTER • 9,280 SF
      2656 Main St, Plainfield, IN 46168-2736
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      18,572 SF

      2437 Main St

      SHOPPING CENTER, STRIP CENTER • 18,572 SF
      2437 Main St, Plainfield, IN 46168-2715
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      21,838 SF

      1601 Main St

      SHOPPING CENTER, STRIP CENTER • 21,838 SF
      1601 Main St, Plainfield, IN 46168-2810
      View Details
    • Value Estimation by Request
      9,600 SF

      1410 Main St

      SHOPPING CENTER, STRIP CENTER • 9,600 SF
      1410 Main St, Plainfield, IN 46168-5561
      View Details

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      Plainfield Retail Opportunity For Sale

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      7,560 SF

      Auto Service Shop on Corner

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    Similar Nearby for Lease

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      96,000 SF

      Prime Plainfield Retail Space

      96,000 SF Retail Center, Spaces Available
      2437 Main St, Plainfield, IN 46168
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    Plainfield, IN 46168-1849
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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.

    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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