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Property profile

406 Commerce Rd Richmond, IN 47374

Retail space
Property ID
US31-1523286
View Sample
5,820 SF 0.86 ac lot Built 1981
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This 5,820-square-foot building, located at 406 Commerce Road in Richmond, Indiana, presents a unique opportunity. The property is a single-tenant building constructed in 1981, offering a blend of retail, office, and industrial space. The building features one story and a single dock-high door, ideal for efficient loading and unloading. The 0.855-acre lot provides ample space for maneuvering and potential expansion. Its prime location offers easy access to Interstates 70 and 40, ensuring excellent connectivity for distribution and commuting. The entire 5,820 square feet is currently vacant, allowing for complete customization to suit a variety of business needs. This property is situated on Richmond's East Side, a highly desirable location. An adjacent property is also available for potential expansion or custom construction, with existing structures available for removal to accommodate specific requirements. This presents a rare chance to acquire a strategically located property with significant potential for growth and development in a thriving area. The property's zoning allows for flexible use, making it suitable for a range of businesses. The address is 406 Commerce Rd, Richmond, IN 47374.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1981
Construction WOOD
Total area 5,820 SF
Lot 0.86 ac (37,244 SF)
Zoning code ZO01
APN 89-16-36-320-203.001-030
UPID US31-1523286

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Warehouse & Storage

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$300k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$300k

Owner & transaction history

since 2012
1 recorded transaction
2012
Price N/A

Zoning & alternative use

ZO01 · Richmond, IN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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