Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1360 In-32 Lebanon, IN 46052

    • Retail properties
    • 3,698 SF
    • 1.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 1360 In-32

    Lot size
    1.24 lot acres
    Property size
    3,698 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional investment opportunity features a free-standing Beef-A-Roo restaurant in Lebanon, Indiana. The property boasts a new 20-year absolute triple-net (NNN) lease, commencing June 24, 2022, and expiring May 31, 2042, leaving 17.5 years remaining. The 3,698 square foot building sits on a 1.24-acre lot and underwent renovations in 2023. The lease includes a favorable 2% annual rent increase, protecting against inflation. The current asking price is $1,872,720, representing a price per square foot of $506.41 and an 8.25% cap rate based on a net operating income (NOI) of $154,499. The property enjoys excellent visibility on West State Road 32 (16,000+ cars daily) and convenient access to I-65 (57,000+ cars daily). The lease is personally guaranteed, offering significant security. The tenant is responsible for all property taxes, insurance, and capital expenditures, including roof, structure, and HVAC. Four, five-year lease options are included. This single-tenant, fee-simple property presents a strong, low-maintenance investment with substantial long-term growth potential. The property benefits from a strong demographic profile, with a 10-mile population of 30,840 and an average household income of $78,162.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Boone
    State
    Indiana
    Longitude
    -86.4952
    Latitude
    40.0469

    Comparable in this City

    • Value Estimation by Request
      1,563 SF

      217 Meridian St

      Flex space • 1,563 SF
      217 Meridian St, Lebanon, IN 46052
      View Details
    • Value Estimation by Request
      50,055 SF

      2423 Lebanon St

      Individual retail properties • 50,055 SF
      2423 Lebanon St, Lebanon, IN 46052
      View Details
    • Value Estimation by Request
      19,430 SF

      101 Meridian St

      Medical offices • 19,430 SF
      101 Meridian St, Lebanon, IN 46052
      View Details
    • Value Estimation by Request
      12,759 SF

      1404 South St

      Flex space • 12,759 SF
      1404 South St, Lebanon, IN 46052
      View Details
    • Value Estimation by Request
      2.27 Acres

      825 375

      Land • 2.27 Acres
      825 375, Lebanon, IN 46052
      View Details
    • Value Estimation
      $280,000
      1,018 SF

      523 Lebanon St

      RESTAURANT • 1,018 SF
      523 Lebanon St, Lebanon, IN 46052-2118
      View Details

    Similar Nearby for Sale

    • $1,500,000
      6,400 SF

      Retail/Restaurant/Office Building For Sale

      6400 sq ft building on almost 2 acres.
      1350 W State Road 32, Lebanon, IN 46052
      View Details
    • $850,000
      14,546 SF

      Lebanon Bowling Alley Business

      Turnkey bowling alley, bar, & building.
      1901 Indianapolis Ave, Lebanon, IN 46052
      View Details
    • $3,000,000
      2,922 SF

      Retail Property Near Future Development

      Retail property in a growing area near future Meijer development.
      2432 N Lebanon St, Lebanon, IN 46052
      View Details
    • $3,236,800

      Boone County Land For Sale

      Approximately 112 acres of land zoned R2.
      3080 N State Road 39, Lebanon, IN 46052
      View Details
    • Contact for pricing

      1.44 Acres Commercial Land Lebanon

      1.44 acres of commercial land for sale or lease.
      200 Sam Ralston Rd, Lebanon, IN 46052
      View Details
    • Contact for pricing
      21.23 Acres

      21.23 Acres Development Land

      Development land adjacent to Boone County LEAP project and Eli Lily.
      17 N 300 W, Lebanon, IN 46052
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      304 S Baldwin Ave, Unit 306

      Retail Space On Bypass
      304 S Baldwin Ave, Marion, IN 46052
      View Details
    • $30 SF/Yr
      2,600 SF

      New Retail Space with Drive-Thru

      New construction retail space with drive-thru and pylon signage.
      4250 S State Road 267, Lebanon, IN 46052
      View Details
    • Contact for pricing
      2,616 SF

      Retail Space in Village North

      Retail space available in a well-established shopping center.
      2462 North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing

      Retail Center in Lebanon, IN

      Retail center anchored by national and regional tenants.
      North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space Near Super Wal-Mart

      Retail space available in front of Super Wal-Mart.
      2438 North Lebanon St, Lebanon, IN 46052
      View Details
    • Contact for pricing

      Lebanon Commercial Property For Rent

      Commercial property available for rent in Lebanon, Indiana.
      John Shaw Rd, Lebanon, IN 46052
      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.
    1360 In-32
    Lebanon, IN 46052
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.