Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land with I69 Exposure Title is generated by Realmo AI

    595 Eyster Drive, Angola, IN 46703

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial land suitable for development with high visibility.

    Type:Land
    Added:
    Apr 15, 2024
    Days on Market:
    777
    Last Refresh:
    May 12 at 8:19 pm

    Property Features for 595 Eyster Drive

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    John Stock

    Listing agent John Stock License #RB14026803

    Listing office RE/MAX Results

    Listing date Apr 15, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results

    HighLights

    • High visibility location on I69, ideal for commercial development.
    • Potential for large‑scale development when combined with contiguous properties, totaling over 12 acres.
    • Existing traffic signal on N Wayne St provides easy access to the property.
    • Property is suited for commercial development.
    • Exposure to both North and South bound lanes of I69.
    • Includes a modular home and access via easement to a private drive.

    Overview

    This property is suitable for commercial development, offering exposure to I69 with high visibility from both north and south bound lanes. A modular home is situated on the property, accessed via an easement onto a private drive. A traffic signal on N Wayne St facilitates access. The property is listed contiguous to two other commercial properties, and combined, the development could total over 12 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Angola
    County
    Steuben
    State
    Indiana
    Longitude
    -85.005232
    Latitude
    41.674166

    Nearby Similar for Sale

    • $814,900

      Versatile Commercial/Industrial Property in Angola

      Expansive property with functional workspace and ample parking.
      645 W 155 S, Angola, IN 46703-7930
      View Details
    • $625,000
      4,000 SF

      Versatile Duplex on Spacious Acreage

      Unique duplex in Angola, Indiana with flexible use options.
      5380 N 450 W, Angola, IN 46703
      View Details
    • $499,900

      Spacious Office Building in Angola

      Versatile office building with multiple private offices and parking.
      300 N Wayne Street, Angola, IN 46703
      View Details
    • $795,000

      Retail Property in High Traffic Area

      Retail property in Angola, Indiana, with high traffic and accessibility.
      1905 N Wayne Street, Angola, IN 46703
      View Details
    • $348,800
      3,610 SF

      Mixed-Use Building in Angola, Indiana

      3610 sq ft mixed-use building with offices and drive-thru.
      1800 Wohlert Street, Angola, IN 46703
      View Details
    • $399,000
      1,588 SF

      Restaurant and Apartment Building

      Restaurant and apartment building with frontage on N. Wayne St.
      614 N Wayne St., Angola, IN 46703
      View Details
    • $2,250,000

      158.9 Acres Agricultural Land Available

      158.9 acres of land with frontage on three roads.
      00 S Bill Deller Road, Angola, IN 46703
      View Details
    • $399,000

      Angola Mixed-Use Development Opportunity

      Corner lot ideal for development or local business.
      908 N Wayne Street, Angola, IN 46703
      View Details
    • $299,900
      2,880 SF

      Mixed-Use Building in Angola, Indiana

      2880 SF mixed-use building with offices and warehouse space.
      207 W Harcourt Road, Angola, IN 46703
      View Details
    • $134,900

      Angola Land Ready for Development

      7.22 acres in Angola, ideal for residential development.
      Redding Road, Angola, IN 46703
      View Details
    • $129,900

      Lime Lake Frontage Buildable Lot

      Buildable lot with lake frontage and access to all-sports lake.
      6855 W Orland Road, Angola, IN 46703
      View Details
    • $620,000

      49 Acres of Farmland

      Prime farmland near Hamilton Lake with development potential.
      TBD S 200 E Road, Angola, IN 46703
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land suitable for development with high visibility.
    Where is this commercial land located?
    The property is located at 595 Eyster Drive Angola, IN.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: High visibility location on I69, ideal for commercial development.; Potential for large‑scale development when combined with contiguous properties, totaling over 12 acres.; Existing traffic signal on N Wayne St provides easy access to the property.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Stock
    Real Estate License ID: RB14026803
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    595 Eyster Drive, Angola, IN 46703
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!