Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    39 In-135 Franklin, IN 46131
    Back to Search
    Property profile & analytics

    39 In-135, Franklin, IN 46131

    View on Map
    • Retail properties & Spaces
    • 4,479 SF
    • 1.66 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 39 In-135

    Year built
    1940
    Lot size
    1.66 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 4,479 square foot commercial property, located at 39 IN-135 in Franklin, Indiana, presents a unique leasing opportunity. Situated on a 1.66-acre lot, this single-tenant space boasts a prime location with over 100 feet of frontage on SR 135, offering excellent visibility and accessibility. The building, constructed in 1940, is a single-story Class C structure and zoned C3, allowing for a variety of uses. The property features a 3-bay garage with 12-foot clear height, equipped with auto lifts and heaters, along with a private restroom. The office space includes a spacious showroom/salesroom, two private offices, an executive office with its own private restroom and shower, and a large break room complete with a full kitchen. The property's versatile layout and ample space make it ideal for a variety of businesses, particularly those in the automotive industry. With its convenient location, substantial frontage, and well-appointed interior, this property represents a compelling opportunity for a discerning tenant seeking a functional and strategically located space in the thriving Franklin, Indiana market. The property's address is 39 IN-135, Franklin, IN 46131, and is conveniently located near the intersection of SR 135 and cross streets 135 & 144.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Johnson
    State
    Indiana
    Longitude
    -86.1576
    Latitude
    39.5205

    Comparable in this City

    • Value Estimation by Request
      1.01 Acres

      | Us Hwy 31 & Christian Blvd

      Automotive properties
      | Us Hwy 31 & Christian Blvd, Whiteland, IN 46131
      View Details
    • Value Estimation by Request
      3,264 SF

      4707 In-135

      Automotive properties
      4707 In-135, Franklin, IN 46131
      View Details
    • Value Estimation by Request
      7,652 SF

      2161 Morton St

      Restaurants
      2161 Morton St, Franklin, IN 46131
      View Details
    • Value Estimation by Request
      2,256 SF

      20 Cir Dr

      OFFICE (GENERAL)
      20 Cir Dr, Franklin, IN 46131-1218
      View Details
    • Value Estimation by Request
      5,228 SF

      355 Jefferson St

      OFFICE (GENERAL)
      355 Jefferson St, Franklin, IN 46131-2326
      View Details
    • Value Estimation
      $615,000
      7,576 SF

      49 Monroe St

      OFFICE (GENERAL)
      49 Monroe St, Franklin, IN 46131-2312
      View Details

    Similar Nearby for Sale

    • $699,000
      2,730 SF

      Prime Franklin Office Building

      I-65 Frontage, High Visibility, Lease in Place
      2134 Holiday Ln, Franklin, IN 46131
      View Details
    • $599,900
      2,688 SF

      High-Visibility Franklin Retail Space

      Prime Johnson County location, high traffic count.
      4677 State Road 135, Franklin, IN 46131
      View Details
    • Contact for pricing

      Versatile Office Building in Franklin

      Adaptable office space in a growing Franklin market.
      130 Fairway Lake Dr, Franklin, IN 46131
      View Details
    • $900,000
      5,200 SF

      Franklin Warehouse with Office Space

      5,200 SF industrial space with office on 1.89 acres.
      695 Industrial Dr, Franklin, IN 46131
      View Details
    • New
      $299,000
      Pending

      High-Visibility Commercial Property in Franklin

      3-acre commercially zoned property with redevelopment potential on US-31.
      3480 S Us Highway 31, Franklin, IN 46131
      View Details
    • Contact for pricing
      6,157 SF

      Advance Auto Parts For Sale

      6,157 SF Advance Auto Parts in Franklin, Indiana for sale.
      600 N Morton St, Franklin, IN 46131
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Bargersville Commercial Opportunity

      Commercial space available for sale or lease in Bargersville, Indiana.
      I-69 & Sr 144, Bargersville, IN 46131
      View Details
    • Contact for pricing
      2,097 SF

      Freestanding Restaurant with Drive-Thru Potential

      Freestanding restaurant on 0.76 acres with drive-thru potential.
      440 N Morton St, Franklin, IN 46131
      View Details
    • Contact for pricing

      Medical Office Space Near Hospital

      Medical office spaces for lease near Johnson Memorial Hospital.
      1140 W Jefferson St, Franklin, IN 46131
      View Details
    • Contact for pricing

      Franklin Flex Space Opportunity

      Versatile 12,000 SF flex space in Franklin, Indiana.
      1408 Commerce Pkwy, Franklin, IN 46131
      View Details
    • Contact for pricing
      3,485 SF

      Bargersville Medical Space For Rent

      Medical space in growing Johnson County community, near major routes.
      4907 Co Rd 300 W, Bargersville, IN 46131
      View Details
    • Contact for pricing
      4,479 SF

      Auto Shop/Showroom on SR 135

      4,500 SF auto shop/showroom with frontage on SR 135.
      39 S State Road 135, Franklin, IN 46131
      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.
    39 In-135
    Franklin, IN 46131
    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

    Thank You for Inquiry
    39 In-135, Franklin, IN, 46131
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!