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    6 State St Markleville, IN 46056

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    6 State St Markleville, IN 46056

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    • Retail properties & Spaces
    • 1,008 SF
    • 0.07 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Markleville Town Hall / City Hall

    Property Details for 6 State St

    Year built
    1953
    Lot size
    0.07 lot acres
    Property size
    1,008 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 1,008 square foot retail space presents a unique investment opportunity in the heart of Markleville's downtown business district. The only commercially zoned building currently available for sale in this thriving area, it offers unparalleled potential for a variety of businesses. A recent addition has doubled the original size, creating over 1000 square feet of open, usable space, perfect for a hair salon, barber shop, restaurant, coffee shop, insurance agency, or any other commercial venture. Recent upgrades include new windows, a 200-amp service entrance and panel box, a foundation replacement (completed three years ago), and a new roof installed concurrently with the addition. Significant exterior finishing materials—red vinyl siding and river rock wainscotting—are already on-site, simplifying the completion of the building's exterior. The property benefits from convenient access to a city parking lot directly across the street. This building boasts a rich history as Markleville's long-standing barber shop, offering a well-established location with high visibility. This is a rare chance to acquire a turnkey commercial property in a desirable location, ready for immediate occupancy and customization to suit your business needs. The seller's loss is your gain! The property sits on a 0.07-acre lot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Markleville
    County
    Madison
    State
    Indiana
    Longitude
    -85.6148
    Latitude
    39.9769

    Comparable in this City

    • Value Estimation
      $1,175,000
      11,164 SF

      8581 State Rd 109

      WHOLESALE OUTLET, DISCOUNT STORE • 11,164 SF
      8581 State Rd 109, Markleville, IN 46056-9782
      View Details
    • Value Estimation by Request
      1,107 SF

      105 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,107 SF
      105 Main St, Markleville, IN 46056-9419
      View Details
    • Value Estimation by Request
      240 SF

      6997 200th E

      CONVENIENCE STORE • 240 SF
      6997 200th E, Markleville, IN 46056-9704
      View Details
    • Value Estimation by Request
      4,000 SF

      7041 200th E

      AUTO REPAIR, GARAGE • 4,000 SF
      7041 200th E, Markleville, IN 46056-9644
      View Details
    • Value Estimation by Request
      1,400 SF

      9 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      9 Main St, Markleville, IN 46056
      View Details
    • Value Estimation by Request
      1,504 SF

      1806 State Rd 38

      CONVENIENCE STORE • 1,504 SF
      1806 State Rd 38, Markleville, IN 46056-9407
      View Details

    Similar Nearby for Sale

    • $500,000

      Historic Hardy Building in Markleville

      Restored 1913 brick building with flexible commercial space.
      11 West Main St, Markleville, IN 46056
      View Details
    • $1,436,155
      77.63 Acres

      Markleville Vacant Land with Barn

      77.63-acre property with barn, pasture, and recreational potential.
      575 E 575 S, Markleville, IN 46056
      View Details
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    6 State St
    Markleville, IN 46056
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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
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