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    802 Main St Boonville, IN 47601

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    For Lease
    Contact for pricing

    High-traffic retail center, multiple spaces available.

    Lot size:
    90,000 SF

    Property Features for 802 Main St

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    90,000 SF
    Total Rate
    43125

    Building Details

    Buildings
    2

    Spaces For Lease

    at 802 Main St, Boonville, IN 47601 Contact us
    Unit 802-3

    $5 /Mo

    Size
    3,229 SF
    Contact us
    Unit 802-4

    $5 /Mo

    Size
    4,343 SF
    Contact us
    Unit 802-5

    $5 /Mo

    Size
    5,655 SF
    Contact us

    We can help!

    Listing Contact
    Richard Clements
    Richard Clements

    Listing Agency: Summit Real Estate Services Listing Agent: Richard Clements

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail investment opportunity, Boonville Shopping Center, is strategically located at the southeast corner of SR 61 and SR 62 (Main Street) in Boonville, Indiana, a primary east/west thoroughfare. The center boasts a total of 90,000 square feet across two buildings, situated on a generous 9.82-acre lot. With ample parking (220 spaces), the property offers excellent accessibility for customers. Currently, the center features a strong tenant mix, anchored by Tractor Supply Co., AutoZone, and 4J's Hardware. Multiple suites are available for lease, ranging from a minimum of 3,229 square feet to a maximum contiguous space of 17,016 square feet, providing flexibility for various retail businesses. The property is zoned C-4 and features a total of nine suites. The property's prime location and established tenant base make it an attractive investment opportunity. The APN numbers are 87-09-27-400-028.000-003
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Derr's Sodas Big Box & Wholesale Store AutoZone Auto Parts Auto Parts Store H&H Tree Service ... Landscaping 4J's Hardware Building Supply 4-A Builders Construction Company

    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
    Boonville
    County
    Warrick
    State
    Indiana
    Longitude
    -87.284615490853
    Latitude
    38.048373606963

    FAQs

    What type of property is this?
    Neighborhood center - High-traffic retail center, multiple spaces available.
    Where is this neighborhood center located?
    The property is located at 802 Main St Boonville, IN.
    What is the lease rate?
    The lease rate is $0.00-$5 SF/Yr.
    What are key features of this property?
    This property features: High visibility location with over 22,000 vehicles per day.; Tenant improvement allowance offered.; Corner lot with multiple access points and abundant parking.
    (812) 426-1070 Call to check price and availability
    Request Owner's contact information
    802 Main St Boonville, IN 47601
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    Boonville, IN 47601
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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
    802 Main St Boonville, IN 47601
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    Contact for Pricing
    Please call us for current price
    and status of this listing Richard Clements
    Richard Clements
    Real Estate License ID: #RB18002031
    (812) 426-1070 (812) 746-8569 (812) 471-2500
    Learn more
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