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    Michigan Rd Waldron, IN 46176

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    Michigan Rd Waldron, IN 46176

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    • Retail properties & Spaces
    • 0.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Michigan Rd

    Lot size
    0.40 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Industrial properties

    Description

    This exceptional outparcel in Shelbyville, Indiana, presents a prime opportunity for retail or industrial development. Situated on approximately 0.4 to 0.5 acres of buildable land, this property boasts exceptional visibility and accessibility. The location offers significant advantages, with high annual average daily traffic (AADT) counts on nearby major roadways: 4362 vehicles on E Michigan Rd., 20518 on E State Rd. 44, and 35508 on I-74. This ensures strong exposure to a substantial customer base. The property's strategic location also benefits from proximity to a significant population center. Within a one-mile radius, there are 2563 residents, expanding to 19,407 within three miles and 24,289 within five miles. Furthermore, the property enjoys convenient access to I-74, just one mile away, and is located only 34 miles from Indianapolis, providing easy access to a larger metropolitan area. This combination of high traffic counts, substantial population density, and convenient location makes this outparcel an attractive investment for businesses seeking a strong presence in a growing market. The property is zoned for flex use, allowing for a variety of development options. This versatile property is ready for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Waldron
    County
    Shelby
    State
    Indiana
    Longitude
    -85.6816
    Latitude
    39.4834

    Comparable in this City

    • Value Estimation by Request
      6,610 SF

      809 Harrison St

      Neighborhood centers • 6,610 SF
      809 Harrison St, Shelbyville, IN 46176
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    • Value Estimation by Request
      135,960 SF

      1802 In-44

      Individual retail properties • 135,960 SF
      1802 In-44, Shelbyville, IN 46176
      View Details
    • Value Estimation by Request
      108,060 SF

      2525 In-44

      Restaurants • 108,060 SF
      2525 In-44, Shelbyville, IN 46176
      View Details
    • Value Estimation by Request
      5,020 SF

      1621 Michigan Rd

      Restaurants • 5,020 SF
      1621 Michigan Rd, Shelbyville, IN 46176
      View Details
    • Value Estimation by Request
      14,794 SF

      1010 In-44

      Individual retail properties • 14,794 SF
      1010 In-44, Shelbyville, IN 46176
      View Details
    • Value Estimation by Request

      DePrez Building

      Prime restaurant space available
      18 Public Square Shelbyville, IN 46176, Shelbyville, IN 46176
      View Details

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    Similar Nearby for Lease

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      Retail Space in Shelbyville

      Retail space available in busy Shelbyville trade area.
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      Retail Space with Highway Visibility

      Retail space available in Shelbyville with excellent highway visibility.
      114-136 Lee Blvd, Shelbyville, IN 46176
      View Details
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    Michigan Rd
    Waldron, IN 46176
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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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