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    Property profile & analytics

    309 Union St Paragon, IN 46166

    • Retail properties
    • 8,606 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 309 Union St

    Year built
    1968
    Lot size
    0.60 lot acres
    Property size
    8,606 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional 8,606-square-foot retail property, located at 309 W Union St in Paragon, Indiana, presents a unique investment opportunity. Situated on a 0.6-acre lot (APN 551218258004000019), this single-story building (built in 1968) boasts a commercially zoned lot and offers significant potential for a variety of uses. Previously operating as an IGA grocery store and gas station, the interior is currently an open shell, providing a blank canvas for adaptive reuse. All grocery equipment has been removed, although the underground gas tanks remain

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Paragon
    County
    Morgan
    State
    Indiana
    Longitude
    -86.5652
    Latitude
    39.3948

    Comparable in this City

    • Value Estimation
      $425,000
      8,606 SF

      309 Un Union

      GROCERY, SUPERMARKET • 8,606 SF
      309 Un Union, Paragon, IN 46166
      View Details
    • Value Estimation
      $385,000
      2,400 SF

      2375 State Rd 67

      CONVENIENCE STORE • 2,400 SF
      2375 State Rd 67, Paragon, IN 46166-9603
      View Details
    • Value Estimation
      $60,000
      1,008 SF

      300 Un Union

      RETAIL STORES (PERSONAL SERVICES) • 1,008 SF
      300 Un Union, Paragon, IN 46166
      View Details
    • Value Estimation by Request
      1,200 SF

      189 Un St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      189 Un St, Paragon, IN 46166
      View Details
    • Value Estimation
      $415,000
      1,904 SF

      Ww Old S R 67

      RETAIL STORES (PERSONAL SERVICES) • 1,904 SF
      Ww Old S R 67, Paragon, IN 46166
      View Details
    • Value Estimation by Request
      672 SF

      2300 State Rd 67

      RETAIL STORES (PERSONAL SERVICES) • 672 SF
      2300 State Rd 67, Paragon, IN 46166
      View Details

    Similar Nearby for Sale

    • $749,000
      4,800 SF

      food and fun for as long as anyone can remember! The property also includes two residential homes which are leased for $2

      000\/month. The restaurant was updated in 2022 when the bar was added. The renovation included cool overhead garage doors
      2285 State Road 67, Paragon, IN 46166
      View Details
    • $150,000
      11.78 Acres

      Morgan County Estate with Acreage

      11.78 acre estate in rural Morgan County.
      156 S Waggoner Rd, Paragon, IN 46166
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    • $199,000

      Farm/Estate - Paragon, IN

      Farm/Estate property for sale in Paragon, Indiana.
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    Paragon, IN 46166
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    Realmo Value Estimation

    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.

    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.

    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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