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    6245 Old Fremont, IN 46737

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    6245 Old Fremont, IN 46737

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    • Shopping malls
    • 110,511 SF
    • 47.80 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 6245 Old

    Year built
    1993
    Lot size
    47.80 lot acres
    Property size
    110,511 SF
    Property type
    Shopping malls
    Property subtype
    Retail properties & Spaces

    Description

    The Outlet Shoppes at Fremont, a vibrant shopping center in Steuben County, Indiana, offers an exceptional retail investment opportunity. This 110,511 square foot property, built in 1993, features two single-story buildings with a total of 27 suites, currently boasting 50,368 square feet of vacant space. Units range from a minimum of 1,488 square feet to a maximum contiguous space of 14,850 square feet, providing flexibility for various retail concepts. The property sits on 47.8 acres of land and includes 902 parking spaces, ensuring ample customer convenience. Its strategic location off I-69 and the Indiana 80/90 Toll Road guarantees high visibility and accessibility, attracting a diverse customer base including families, young professionals, and retirees. The proximity to Trine University, experiencing significant growth, further enhances the potential customer pool. Adding to the opportunity, two additional land parcels are available for lease: Parcel 4 (32.2 acres) and Parcel 3 (15.6 acres). The property's established reputation for value attracts both bargain hunters and brand-loyal shoppers, creating a dynamic shopping environment. This is a unique chance to capitalize on a thriving retail location in Northeast Indiana. The property's address is conveniently located near North Old US 27, and its APN is 760323000030010006.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fremont
    County
    Steuben
    State
    Indiana
    Longitude
    -85.0008
    Latitude
    41.735

    Comparable in this City

    • Value Estimation
      $705,000
      81,620 SF

      6245 Old 27

      SHOPPING CENTER, STRIP CENTER • 81,620 SF
      6245 Old 27, Fremont, IN 46737-8711
      View Details
    • Value Estimation
      $695,000
      35,450 SF

      Fletcher Pkwy Ofc Old

      SHOPPING CENTER, STRIP CENTER • 35,450 SF
      Fletcher Pkwy Ofc Old, Fremont, IN 46737
      View Details
    • Value Estimation
      $760,000
      41,724 SF

      655 State Rd 120

      SHOPPING CENTER, STRIP CENTER • 41,724 SF
      655 State Rd 120, Fremont, IN 46737-9433
      View Details
    • Value Estimation
      $535,000
      6,600 SF

      6843 Old 27

      RETAIL STORES (PERSONAL SERVICES) • 6,600 SF
      6843 Old 27, Fremont, IN 46737-8847
      View Details
    • Value Estimation by Request
      1,200 SF

      7145 50th W

      SHOW ROOM, WAREHOUSE • 1,200 SF
      7145 50th W, Fremont, IN 46737-9689
      View Details
    • Value Estimation by Request
      5,103 SF

      104 Baum St

      VEHICLE SALES, RENTALS • 5,103 SF
      104 Baum St, Fremont, IN 46737-2108
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,476 SF

      Retail/Office/Mixed-Use Property For Sale

      Retail, office, or mixed-use property available for sale.
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    • $169,500
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      Fremont Retail Building For Sale

      Retail building in downtown Fremont with residential potential.
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      2,160 SF

      Fremont Retail Investment Opportunity

      2,160 SF building on 3.75 acres in Fremont, IN.
      640 W 400 North, Fremont, IN 46737
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    • $685,000
      2.06 Acres

      Retail Investment Building with Development Potential

      Three-unit retail building with development acreage near I-69 and 80/90.
      6843 N Old 27, Fremont, IN 46737
      View Details
    • $39,900
      0.43 Acres

      Residential Land in Fremont, IN

      Residential land available for building in Fremont, Indiana.
      587 Lk James Ln, Fremont, IN 46737
      View Details
    • $599,000
      1,944 SF

      Updated Home on Rolling Landscape

      Updated home on 5+ acres, perfect for farming.
      7950 E 400 N, Fremont, IN 46737
      View Details

    Similar Nearby for Lease

    • $1,700 /Mo
      1,600 SF

      Fremont Mixed-Use Commercial Space

      Unique 1600 SF mixed-use space in Fremont, Indiana.
      304 S Wayne St, Fremont, IN 46737
      View Details
    • $10 SF/Yr

      Fremont Campus Land Opportunity

      Prime land for lease near popular destinations and major highways.
      6245 Old Us 27, Fremont, IN 46737
      View Details
    • $1,600 /Mo
      2,400 SF

      Fremont Mixed-Use Retail/Office/Restaurant Space

      Versatile space near I-69 and Toll road exits.
      6843 N Old 27 Hwy, Fremont, IN 46737
      View Details
    • Contact for pricing
      25,600 SF

      Fremont Warehouse Space Available

      25,600 sq ft warehouse space for lease.
      7267 North Baker Rd, Fremont, IN 46737
      View Details
    • Contact for pricing

      High-End Storage Condominiums For Rent

      Quality storage condominiums with customization options available for rent.
      40 Marolf Ct, Fremont, IN 46737
      View Details
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    Fremont, IN 46737
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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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