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    2028-2138 Burton Ln Martinsville, IN 46151
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    2028-2138 Burton Ln, Martinsville, IN 46151

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    • Lifestyle centers
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2028-2138 Burton Ln

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Martinsville Plaza offers exceptional retail opportunities with three available spaces ranging from 1,297 to 12,126 contiguous square feet. A total of 16,354 square feet is currently vacant within this B3-zoned shopping center, providing flexibility for various retail concepts. Boasting premium visibility and convenient access from I-69 via exit 137, this location is a prime destination in Martinsville, attracting over 194,000 weekly visitors. The property benefits from recent improvements, including repaving of the parking lot and fresh exterior paint, ensuring a well-maintained and attractive environment for both tenants and customers. The high traffic volume, coupled with the strategic interstate access, presents a unique opportunity for businesses seeking significant exposure and a strong customer base. The minimum divisible space is 1,297 square feet, making it suitable for a range of businesses, while larger tenants can occupy up to 12,126 contiguous square feet. This highly visible and well-maintained shopping center represents a compelling investment opportunity in a thriving retail market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Monroe
    State
    Indiana
    Longitude
    -86.4391
    Latitude
    39.4076

    Comparable in this City

    • Value Estimation by Request
      11,086 SF

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      0 35 -49 Blvd, Martinsville, IN 46151
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    • Value Estimation by Request
      63,000 SF

      285 Morton Ave

      Lifestyle centers
      285 Morton Ave, Martinsville, IN 46151
      View Details
    • Value Estimation
      $1,595,000
      44,380 SF

      361 Grand Vly Blvd, Unit 399

      SHOPPING CENTER, STRIP CENTER
      361 Grand Vly Blvd, Martinsville, IN 46151-5851
      View Details
    • Value Estimation by Request
      4,630 SF

      569 Morton Ave, Unit 589

      SHOPPING CENTER, STRIP CENTER
      569 Morton Ave, Martinsville, IN 46151-2754
      View Details
    • Value Estimation
      $800,000
      34,370 SF

      175 Morton Ave, Unit 285

      SHOPPING CENTER, STRIP CENTER
      175 Morton Ave, Martinsville, IN 46151-2469
      View Details
    • Value Estimation by Request
      4,276 SF

      605 Morton Ave, Unit 607

      SHOPPING CENTER, STRIP CENTER
      605 Morton Ave, Martinsville, IN 46151-2756
      View Details

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      2,159 SF

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      Retail space available at a high-traffic intersection.
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    • $449,900
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      Prime Commercial Corner Lot

      High-visibility corner lot with immediate I-69 access in Martinsville.
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    Similar Nearby for Lease

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      Freestanding Restaurant Building with Drive-Thru

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      Martinsville Retail Space Available

      Retail property available for lease in Martinsville, Indiana.
      2028 Burton Ln, Martinsville, IN 46151
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    • $9,945 /Mo
      58,754 SF

      Martinsville Retail Space Available

      Retail property available for lease in Martinsville, Indiana.
      2020-2138 Burton Ln, Martinsville, IN 46151
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      2,355 SF

      Retail Space with Flexible Layout

      Modern retail property with ample parking and high visibility.
      35-49 Bills Blvd, Martinsville, IN 46151
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      Mixed-Use Property with Flexible Space

      Mixed-use property featuring flexible space, offices, and potential expansion.
      1209 E Morgan St, Martinsville, IN 46151
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      Retail Space with Interstate Visibility

      Retail space with premium visibility and access from I-69.
      2028-2138 Burton Ln, Martinsville, IN 46151
      View Details
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    Martinsville, IN 46151
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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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    2028-2138 Burton Ln, Martinsville, IN, 46151
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