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    1807 Broadway St Greensburg, IN 47240

    Sponsored
    For Lease
    Contact for pricing

    High-traffic retail center, prime location.

    Lot size:
    14,863 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    413
    This Greensburg, Indiana retail center, located at 1807 N Broadway St, 47240, offers a unique investment opportunity. The property, totaling 14,863 square feet, sits on 0.6 to 1 acre of land and is currently 100% vacant. The flexible space allows for multiple configurations, with a minimum divisible unit of 1,200 square feet and a maximum contiguous space of 9,545 square feet. The property's strategic location on State Route 3, just half a mile from Interstate 74, ensures high visibility and accessibility. The surrounding area boasts a strong retail presence, including established businesses such as Rural King, Culver's, Wendy's, Walmart, ALDI, and Tractor Supply Co. Furthermore, the property benefits from a robust local economy, with Honda Manufacturing, employing over 3,000 people, situated only 5 miles away. The average household income within a 10-mile radius is $66,000, indicating a strong consumer base. This property presents a compelling opportunity for businesses seeking high-traffic exposure in a thriving community. The property is zoned for retail, restaurant, and land use. The Decatur County location provides access to a significant population base. The available space is highly adaptable to various retail concepts, offering up to 13,663 square feet of combinable contiguous space. This includes options for 9,545 square feet and 4,118 square feet.

    Property Features for 1807 Broadway St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,863 SF

    Unit(s) available at that property

    Space
    Inline Space
    Size
    13,663 SF

    We can help!

    Listing Contact
    John Holloway
    John Holloway

    Learn more

    Property Insight Report

    HighLights

    • 14,863 SF retail center in Greensburg, IN, on ~0.6‑1 acre.
    • 100% vacant, divisible into units as small as 1,200 SF, with a maximum contiguous space of 9,545 SF.
    • High‑visibility location on State Route 3, 0.5 miles from I‑74, near major retailers (Rural King, Culver's, Wendy's, Walmart, ALDI, Tractor Supply Co.).
    • Strong local economy, 5 miles from Honda Manufacturing (3,000+ employees), average household income $66,000 within 10‑mile radius.
    • Zoned for retail and restaurant use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensburg
    County
    Decatur
    State
    Indiana
    Longitude
    -85.485336493434
    Latitude
    39.353815168861

    Nearby Comparable

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    Nearby Similar for Lease

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      Retail Center in Greensburg

      97,773 SF retail center with large parking field.
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      9,545 SF

      Retail Space Near Rural King

      Retail space available near major retailers and Honda Manufacturing.
      1809 N Broadway St, Greensburg, IN 47240
      View Details
    • $16 SF/Yr
      10,316 SF

      Greensburg Retail Space For Lease

      High-traffic retail space, ample parking.
      2128 Middle Dr, Greensburg, IN 47240
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      Retail Space Near Interstate

      Retail property with abundant parking and easy interstate access.
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      Retail Space in Greensburg Crossing

      Retail space available for lease in Greensburg, Indiana.
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    • $2,000 /Mo
      1,000 SF

      Medical Building with Exam Rooms

      Professional medical building featuring 11 exam rooms for rent.
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    FAQs

    What type of property is this?
    Restaurant - High-traffic retail center, prime location.
    Where is this restaurant located?
    The property is located at 1807 Broadway St Greensburg, IN.
    What are key features of this property?
    This property features: 14,863 SF retail center in Greensburg, IN, on ~0.6-1 acre.; 100% vacant, divisible into units as small as 1,200 SF, with a maximum contiguous space of 9,545 SF.; High-visibility location on State Route 3, 0.5 miles from I-74, near major retailers (Rural King, Culver's, Wendy's, Walmart, ALDI, Tractor Supply Co.).
    Request Owner's contact information
    1807 Broadway St Greensburg, IN 47240
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    Greensburg, IN 47240
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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
    1807 Broadway St Greensburg, IN 47240
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    We can help!
    Listing Contact
    John Holloway
    John Holloway
    Real Estate License ID: IN RB14036910
    Learn more
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