Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    County Road 1240 Seymour, IN 47274
    Back to Search
    Property profile & analytics

    County Road 1240, Seymour, IN 47274

    View on Map
    • Commercial real estate
    • 2.56 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for County Road 1240

    Year built
    1996
    Lot size
    2.56 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.56-acre property in Seymour, Indiana, presents a unique opportunity for a discerning buyer. The land boasts two well-equipped shops, perfect for a mechanic or any tradesperson seeking ample workspace. One shop, constructed around 1996, offers over 1,600 square feet of space, while the newer addition, built in 2020, provides an additional 1,200 square feet. Both shops are equipped with gas heating, ensuring a comfortable working environment year-round. A septic tank is already in place, simplifying utility connections. The property also includes an owned propane tank that will convey with the sale. Currently zoned agricultural, the property offers significant potential for future development. A completed survey is available, streamlining the process for any prospective buyer. While currently zoned agricultural, a zoning change would be required for commercial use, opening up a wide range of possibilities. This versatile property combines existing infrastructure with significant expansion potential, making it an ideal investment for those seeking a ready-to-use workspace with room to grow. The property is also listed separately as vacant land under MLS # 202409085.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Seymour
    County
    Jackson
    State
    Indiana
    Longitude
    -85.81
    Latitude
    38.8865

    Comparable in this City

    • Value Estimation by Request
      1.30 Acres

      2000 County Rd 1000th E

      COMMERCIAL (GENERAL)
      2000 County Rd 1000th E, Seymour, IN 47274
      View Details
    • Value Estimation by Request
      5.74 Acres

      10759 County Rd 210th E

      COMMERCIAL (GENERAL)
      10759 County Rd 210th E, Seymour, IN 47274
      View Details
    • Value Estimation by Request
      0.09 Acres

      807 Tipton St

      COMMERCIAL (GENERAL)
      807 Tipton St, Seymour, IN 47274
      View Details
    • Value Estimation by Request
      0.40 Acres

      1331 Tipton St

      COMMERCIAL (GENERAL)
      1331 Tipton St, Seymour, IN 47274
      View Details
    • Value Estimation by Request
      3,462 SF

      115 Tipton St

      COMMERCIAL (GENERAL)
      115 Tipton St, Seymour, IN 47274-2343
      View Details
    • Value Estimation by Request
      5,460 SF

      6880 Us Hwy 31

      COMMERCIAL (GENERAL)
      6880 Us Hwy 31, Seymour, IN 47274
      View Details

    Similar Nearby for Sale

    • $65,000
      1.01 Acres

      Residential Lots in Seymour, Indiana

      Residential lots available in Seymour, Indiana with utilities access.
      10312 Shamrock Ct, Seymour, IN 47274
      View Details
    • $65,000
      1.07 Acres

      Residential Lots in Seymour, IN

      Residential lots available in Seymour, Indiana.
      10301 Shamrock Ct, Seymour, IN 47274
      View Details
    • $55,000
      1.07 Acres

      Residential Lots in Seymour, Indiana

      Residential land available in Seymour, Indiana with utilities access.
      10405 Emerald Ct N, Seymour, IN 47274
      View Details
    • Contact for pricing

      Two Auto Shops on Land

      Two auto shops on agriculturally zoned land with potential.
      N County Road 1240 E, Seymour, IN 47274
      View Details
    • Contact for pricing

      Commercial Building on Highway 31

      5,000 SF commercial building with ample parking on 0.85 acres.
      5028 N Us Highway 31, Seymour, IN 47274
      View Details
    • $229,900
      1,829,520 SF

      42 Acres Wooded Recreation Tract

      Wooded 42-acre tract ideal for wildlife and recreation.
      South 1000 West, Seymour, IN 47274
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Tipton Crossing

      Retail space available in busy Seymour shopping center.
      1171 W Tipton St, Seymour, IN 47274
      View Details
    • Contact for pricing
      3,375 SF

      Industrial Shop Area For Rent

      Heated and air-conditioned industrial shop space with overhead door.
      318 Myers St, Seymour, IN 47274
      View Details
    • Contact for pricing

      1.40 Acre Retail Site

      1.40 acres available for lease in retail corridor.
      1800 E Tipton St, Seymour, IN 47274
      View Details
    • Contact for pricing
      29,893 SF

      Retail Space on Main Corridor

      Retail property located on a main retail corridor.
      2000 East Tipton St, Seymour, IN 47274
      View Details
    • Contact for pricing

      Regional Multi-Use Shopping Center Space

      Multi-use shopping center with retail, entertainment, and office spaces.
      357 Tanger Blvd, Seymour, IN 47274
      View Details
    • Contact for pricing

      Retail Space in Pre-Construction Phase

      Retail center with flexible options, completion anticipated August-September 2023.
      449 Cottonwood Dr, Seymour, IN 47274
      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.
    County Road 1240
    Seymour, IN 47274
    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
    County Road 1240, Seymour, IN, 47274
    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!