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    969 Mcclain Ave Scottsburg, IN 47170

    Sponsored
    For Sale
    $525,000

    Prime Retail Space, Two Units, High Visibility

    Property size:
    3,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional retail property, located at 969 W McClain Ave in Scottsburg, Indiana, presents a fantastic investment opportunity. The 3,700 square foot building, constructed in 2002, sits on a 0.752-acre lot (APN: 720519420007000008) and boasts two separate units, each offering significant potential. The property is ideally situated on the main strip of Scottsburg, providing excellent visibility and convenient access to I-65, ensuring high traffic flow. Ample parking is available for customers and tenants. Each unit is equipped with its own kitchen and bathroom, both featuring granite countertops. Furthermore, the building offers the convenience of two separate electric meters and two gas meters, with water billed as a single unit. All existing desks, filing cabinets, and appliances are included in the sale. The asking price is $525,000, translating to a price per square foot of $141.89. This turnkey property is ready for immediate occupancy and offers a unique blend of owner-occupancy and rental income potential. Its prime location and versatile layout make it an attractive proposition for a variety of businesses. Don't miss this chance to acquire a well-maintained, high-traffic commercial property in a thriving Indiana community.

    Property Features for 969 Mcclain Ave

    General Information

    Property type
    Retail properties
    Square Feet
    3,700 SF
    Lot Size
    32,757 SF

    Building Details

    Year Built
    2002
    Units
    2

    We can help!

    Listing Contact
    Jennifer Jordan
    Jennifer Jordan

    Learn more

    HighLights

    • 3,700 SF retail building on 0.752‑acre lot in Scottsburg, IN.
    • Built in 2002, located on main strip with I‑65 access.
    • Two separate units, each with kitchen & bath (granite countertops).
    • Ample parking, two electric meters, two gas meters, single water bill.
    • $525,000 asking price ($141.89/SF).
    • Turnkey property with existing furniture and appliances included.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small Don K Counselor Indiana State Teachers ... Corporate Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Scottsburg
    County
    Scott
    State
    Indiana
    Longitude
    -85.7815256
    Latitude
    38.6849878

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, Two Units, High Visibility
    Where is this retail property located?
    The property is located at 969 Mcclain Ave Scottsburg, IN.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: 3,700 SF retail building on 0.752-acre lot in Scottsburg, IN.; Built in 2002, located on main strip with I-65 access.; Two separate units, each with kitchen & bath (granite countertops).
    (812) 752-3900
    Request Owner's contact information
    969 Mcclain Ave Scottsburg, IN 47170
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    Scottsburg, IN 47170
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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
    969 Mcclain Ave Scottsburg, IN 47170
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    We can help!
    Listing Contact
    Jennifer Jordan
    Jennifer Jordan
    Real Estate License ID: IN RB14031558
    (812) 752-3900
    Learn more
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