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    1111 Park Ave Alexandria, IN 46001

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    For Lease
    Contact for pricing

    1,896 SF Storefront Available Now

    Lot size:
    10,049 SF

    Property Features for 1111 Park Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,049 SF
    Class
    B
    Total Rate
    7536.75

    Building Details

    Buildings
    1

    Spaces For Lease

    at 1111 Park Ave, Alexandria, IN 46001 Contact us
    Unit B105

    $9 /Mo

    Size
    1,896 SF
    Contact us

    We can help!

    Listing Contact
    Liz Godwin
    Liz Godwin

    Listing Agency: Providence Real Estate Development Listing Agent: Liz Godwin

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

    Learn more

    Property Insight Report

    Overview

    McBride Commons offers a fantastic retail opportunity in Alexandria, Indiana. This Class B property, located at 1111 N Park Ave (Park Avenue & Taylor Street), features a single-story building totaling 10,049 square feet, currently divided into three suites. A highly visible 1,896 square foot storefront is immediately available, representing the entire vacant space within the building. The property is conveniently situated on a major thoroughfare, anchored by O'Reilly Auto Parts, ensuring high traffic and excellent visibility for your business. There are no elevators in the building. The minimum divisible space is 1,896 square feet, and the maximum contiguous space available is also 1,896 square feet. This presents a unique chance to establish a strong presence in a thriving Alexandria, IN, submarket. The property's address is 1111 N Park Ave, Alexandria, IN 46001. This location offers exceptional accessibility and exposure for your retail venture. The property is ideal for a variety of retail uses and provides a ready-to-occupy space. Don't miss this opportunity to secure a prime retail location in a high-traffic area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Indiana Farm Bureau ... Insurance Agency O'Reilly Auto Parts Auto Parts Store Nau Co Insurance Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Madison
    State
    Indiana
    Longitude
    -85.6706973
    Latitude
    40.2731478

    Nearby Similar for Lease

    • $2,572 /Mo
      2,400 SF

      Office Space Available For Rent

      Office space available for lease in Alexandria, Indiana.
      2211 S Park Ave, Alexandria, IN 46001
      View Details

    FAQs

    What type of property is this?
    Individual retail property - 1,896 SF Storefront Available Now
    Where is this individual retail property located?
    The property is located at 1111 Park Ave Alexandria, IN.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: 1,896 SF retail space available for lease in Alexandria, IN.; Class B, single-story building totaling 10,049 SF, currently divided into three suites.; High-visibility location on N Park Ave (Park Ave & Taylor St), anchored by O'Reilly Auto Parts.
    (317) 579-9700 Call to check price and availability
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    1111 Park Ave Alexandria, IN 46001
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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
    1111 Park Ave Alexandria, IN 46001
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Liz Godwin
    Liz Godwin
    Real Estate License ID: RB14045696
    (317) 579-9700 (317) 513-3575
    Learn more
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