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    406 Commerce Rd Richmond, IN 47374

    Sponsored
    For Sale
    $450,000

    5,820 SF Vacant Retail Space, I-70 Access

    Property size:
    5,820 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 5,820-square-foot storefront retail building is ideally situated at 406 Commerce Road in Richmond, Indiana, offering unparalleled access to I-70 and US 40. Built in 1981, this single-story, vacant property sits on a 0.85-acre lot and presents a unique investment opportunity. The building features a net rentable area of 5,820 square feet, priced at $77.32 per square foot, with an asking price of $450,000. The property is offered as a triple net (NNN) lease. Its prime location on Richmond's East Side provides excellent visibility and accessibility. The property's proximity to major highways ensures high traffic volume and convenient access for customers and employees. Furthermore, an adjacent property is available for custom development, allowing for expansion or complementary construction to meet specific business needs. This presents a rare chance to acquire a significant retail space in a high-traffic area with potential for future expansion. The property is currently vacant, providing immediate occupancy for a new tenant or owner-occupier.

    Property Features for 406 Commerce Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,820 SF
    Lot Size
    37,026 SF

    Building Details

    Year Built
    1981
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 5,820 SF vacant retail building on 0.85‑acre lot in Richmond, IN.
    • Located at 406 Commerce Road, offering excellent I‑70 and US 40 access.
    • Single‑story building built in 1981, priced at $450,000 ($77.32/SF).
    • Offered as a triple‑net (NNN) lease.
    • Adjacent land available for expansion or complementary development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Georgia Direct Warehouse Warehouse

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.824341302777
    Latitude
    39.83422604091

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    FAQs

    What type of property is this?
    Individual retail property - 5,820 SF Vacant Retail Space, I-70 Access
    Where is this individual retail property located?
    The property is located at 406 Commerce Rd Richmond, IN.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: 5,820 SF vacant retail building on 0.85-acre lot in Richmond, IN.; Located at 406 Commerce Road, offering excellent I-70 and US 40 access.; Single-story building built in 1981, priced at $450,000 ($77.32/SF).
    Request Owner's contact information
    406 Commerce Rd Richmond, IN 47374
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    Richmond, IN 47374
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    Realmo Value Estimation

    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.

    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
    406 Commerce Rd Richmond, IN 47374
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