Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    114 St Rd Rensselaer, IN 47978

    Property Lookup

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

    114 St Rd Rensselaer, IN 47978

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

    Current Use by Public Records

    • Commercial real estate

    Property Details for 114 St Rd

    Lot size
    1.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1-acre commercial vacant lot is situated at the high-traffic intersection of I-65 and State Road 114 in Rensselaer, Indiana (zip code 47978), offering unparalleled visibility and accessibility. Zoned B-2 Commercial, it boasts city water, electric, and sewage access. Its strategic location provides easy access to major highways and nearby cities, including Merrillville (37 minutes away) and Lafayette (43 minutes away). The high daily traffic volume of approximately 150,000 vehicles on the nearby interstate presents a significant opportunity for billboard advertising revenue, adding a lucrative income stream. This property is ideal for a variety of businesses, from retail outlets and restaurants to service centers and convenience stores. The lot's high visibility and convenient location ensure maximum exposure for any commercial venture. This is a rare opportunity to acquire a prime commercial lot with significant billboard income potential at a major interstate intersection. Don't miss this chance to capitalize on this exceptional real estate offering in a growing Indiana market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rensselaer
    County
    Jasper
    State
    Indiana
    Longitude
    -87.2194
    Latitude
    40.9423

    Comparable in this City

    • Value Estimation by Request
      3,240 SF

      1501 Grace St, Unit 1-6

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,240 SF
      1501 Grace St, Rensselaer, IN 47978-3230
      View Details
    • Value Estimation by Request
      2,132 SF

      117 Frnt St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,132 SF
      117 Frnt St, Rensselaer, IN 47978-2841
      View Details
    • Value Estimation by Request
      3,200 SF

      420 Milroy Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,200 SF
      420 Milroy Ave, Rensselaer, IN 47978-2660
      View Details
    • Value Estimation by Request
      2,560 SF

      536 Walnut St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,560 SF
      536 Walnut St, Rensselaer, IN 47978-2366
      View Details
    • Value Estimation by Request
      4,179 SF

      215 Washington St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,179 SF
      215 Washington St, Rensselaer, IN 47978-2821
      View Details
    • Value Estimation by Request
      3,978 SF

      219 Maple St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,978 SF
      219 Maple St, Rensselaer, IN 47978-2071
      View Details

    Similar Nearby for Sale

    • $458,150
      13.09 Acres

      Rensselaer Land on St. Rd.

      13 acres in Rensselaer with B-2 and I-1 zoning.
      1530-1 W Clark St, Rensselaer, IN 47978
      View Details
    • $154,900
      Pending

      Downtown Rensselaer Commercial Building

      Commercial building in downtown Rensselaer with versatile open spaces.
      110 N Front St, Rensselaer, IN 47978
      View Details
    • $199,000
      2,160 SF

      Renovated Office Space in Rensselaer

      Prime business district office space with long-term tenant.
      210 E Washington St, Rensselaer, IN 47978
      View Details
    • Contact for pricing

      Two-Unit Multifamily Investment Opportunity

      Two-unit property with separate utilities, parking, and storage.
      720 N Jefferson St, Rensselaer, IN 47978
      View Details
    • $189,900
      10.00 Acres

      Secluded 10-Acre Hunting Land

      10 acres of secluded land, ideal for hunting or building.
      784 W 700 N, Rensselaer, IN 47978
      View Details
    • $199,900
      17.00 Acres

      Wooded Land with Stone Driveway

      Seventeen acres of wooded land ready for your dream home.
      County Road 400 N, Rensselaer, IN 47978
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Grocery Anchored Shopping Center

      Prime retail space in Rensselaer's College Square Plaza.
      South College Ave, Rensselaer, IN 47978
      View Details
    • Contact for pricing
      6,880 SF

      Grocery Anchored Shopping Center

      Retail space in Rensselaer's College Square Plaza.
      396-732 S College Ave, Rensselaer, IN 47978
      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.
    114 St Rd
    Rensselaer, IN 47978
    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.
    Sign Up Successful!
    You now have access to more from Realmo!