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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    508 Ridgeview Trl Avilla, IN 46710

    • Specialty properties
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 508 Ridgeview Trl

    Lot size
    0.38 lot acres
    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 0.38-acre commercial lot presents a rare opportunity in the desirable Meadows of Eley Creek development in Avilla, Indiana. Located at 508 Ridgeview Trail, this property (Lot #22) is one of only four remaining lots in this established community, offering a unique chance to build your dream commercial structure. The location boasts convenient access, situated just 15 minutes from Fort Wayne, providing excellent visibility and accessibility for any business. The existing development showcases the high quality of construction in the area, with twenty-two of the twenty-six lots already developed by reputable local builders. This particular lot is ideally suited for a walk-out basement, maximizing usable space and adding significant value to the future construction. Three additional lots (#6, #21, and #26) are also available for purchase. This is an exceptional opportunity to secure a prime commercial building site in a thriving community. The asking price for this 0.38-acre lot is $34,500. Don't miss this chance to establish your business in a highly sought-after location. The property is zoned for commercial use and is ready for immediate development. Contact us today to learn more about this incredible opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Avilla
    County
    Noble
    State
    Indiana
    Longitude
    -85.2425
    Latitude
    41.3612

    Comparable in this City

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      0.29 Acres

      401 Meadows Pkwy

      Land • 0.29 Acres
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      0.38 Acres

      142 Main St

      Land • 16,553 SF
      142 Main St, Avilla, IN 46710
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    • Value Estimation by Request
      0.27 Acres

      524 Ridgeview Trl

      Land • 0.27 Acres
      524 Ridgeview Trl, Avilla, IN 46710
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    • Value Estimation by Request
      0.31 Acres

      504 Ridgeview Trl

      Land • 0.31 Acres
      504 Ridgeview Trl, Avilla, IN 46710
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    • Value Estimation by Request
      4,948 SF

      530 Main St

      FUNERAL HOME • 4,948 SF
      530 Main St, Avilla, IN 46710-9601
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    • Value Estimation by Request
      3,654 SF

      153 Brown Dr

      COLLEGE, UNIVERSITY, VOC SCHOOL • 3,654 SF
      153 Brown Dr, Avilla, IN 46710-9494
      View Details

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    508 Ridgeview Trl
    Avilla, IN 46710
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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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