Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1379 Morton Ave Martinsville, IN 46151

    • Commercial real estate
    • 1.83 lot acres
    For Sale
    View listing
    $900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3083342
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1379 Morton Ave

    Lot size
    1.83 lot acres
    Property type
    Commercial real estate
    APN
    551308200002100021

    Description

    This exceptional 1.83-acre commercial land parcel presents a unique investment opportunity in Martinsville, Indiana. Located at 1379 Morton Ave, this property boasts a highly desirable B-2 zoning classification, offering a wide range of development possibilities. Its strategic location provides unparalleled visibility and accessibility, situated directly on SR 37 and less than a quarter-mile from the proposed I-69 interchange. This proximity ensures exceptional exposure to a large volume of traffic, making it an ideal site for businesses seeking high visibility and convenient access to major transportation routes. The lot size is substantial, providing ample space for a variety of commercial projects. All essential utilities, including gas, sewer, and water, are readily available at the site, simplifying the development process and reducing upfront costs. The asking price for this prime commercial land is $900,000, translating to approximately $546,448 per acre, reflecting its exceptional location and development potential. The property's APN is 551308200002100021. Don't miss this chance to acquire a highly sought-after commercial property in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Morgan
    State
    Indiana
    Longitude
    -86.4426304
    Latitude
    39.4062875

    Comparable in this City

    • Contact for pricing
      2.93 Acres

      I-69 & SR 39 Commercial Land

      High-traffic location, divisible parcels.
      1313 Morton Ave, Martinsville, IN 46151
      View Details
    • Contact for pricing
      1.01 Acres

      Residential Lot in Foxcliff North

      Vacant lot with mature trees and views in Martinsville, IN.
      N Oxford Ct, Martinsville, IN 46151
      View Details
    • $215,000
      7.67 Acres

      7.6 Acre Residential Estate

      7.6 acre residential lot with breathtaking views in Morgan County.
      5 Goat Hollow Rd, Martinsville, IN 46151
      View Details
    • $250,000
      7.58 Acres

      7.5 Acres of Farmland

      7.5 acres of land for sale in Martinsville, Indiana.
      Goat Holw Est, Martinsville, IN 46151
      View Details
    • $135,900
      3.81 Acres

      Martinsville Agricultural Land For Sale

      3.8 acres of open space, perfect for your next home site.
      2 Skunk Hollow Rd, Martinsville, IN 46151
      View Details
    • $50,000
      0.44 Acres

      Residential Lots in Martinsville, IN

      Residential lots available for building a custom home.
      E Cunningham St, Martinsville, IN 46151
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.93 Acres

      I-69 & SR 39 Commercial Land

      High-traffic location, divisible parcels.
      1313 Morton Ave, Martinsville, IN 46151
      View Details
    • Contact for pricing
      1.01 Acres

      Residential Lot in Foxcliff North

      Vacant lot with mature trees and views in Martinsville, IN.
      N Oxford Ct, Martinsville, IN 46151
      View Details
    • $215,000
      7.67 Acres

      7.6 Acre Residential Estate

      7.6 acre residential lot with breathtaking views in Morgan County.
      5 Goat Hollow Rd, Martinsville, IN 46151
      View Details
    • $250,000
      7.58 Acres

      7.5 Acres of Farmland

      7.5 acres of land for sale in Martinsville, Indiana.
      Goat Holw Est, Martinsville, IN 46151
      View Details
    • $135,900
      3.81 Acres

      Martinsville Agricultural Land For Sale

      3.8 acres of open space, perfect for your next home site.
      2 Skunk Hollow Rd, Martinsville, IN 46151
      View Details
    • $50,000
      0.44 Acres

      Residential Lots in Martinsville, IN

      Residential lots available for building a custom home.
      E Cunningham St, Martinsville, IN 46151
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,044 SF

      Restaurant Space with Drive-Thru

      3,044 SF restaurant space with drive-thru and pylon signage.
      2235 Burton Ln, Martinsville, IN 46151
      View Details
    • $9,945 /Mo
      58,754 SF

      Martinsville Retail Space Available

      Retail property available for lease in Martinsville, Indiana.
      2020-2138 Burton Ln, Martinsville, IN 46151
      View Details
    • $2,500 /Mo
      43,124 SF

      Versatile Commercial/Industrial Building in Martinsville

      5,000 sq ft building with office and manufacturing space.
      400 E Mahalasville Dr, Martinsville, IN 46151
      View Details
    • Contact for pricing
      4,265 SF

      Freestanding Restaurant Building with Drive-Thru

      4,265 SF former Steak N Shake with drive-thru for lease.
      650 Birk Rd, Martinsville, IN 46151
      View Details
    • $3,000 /Mo
      2,116 SF

      Martinsville Office Space For Rent

      Former Farm Credit building with flexible office space available for rent.
      1209 E Morgan St, Martinsville, IN 46151
      View Details
    • $12 SF/Yr
      16,354 SF

      Martinsville Plaza Retail Center

      High-traffic retail space available.
      2028-2138 Burton Ln, Martinsville, IN 46151
      View Details
    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.
    1379 Morton Ave
    Martinsville, IN 46151
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.