Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    16502 In-63 Covington, IN 47932

    • Retail properties
    • 8,000 SF
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 16502 In-63

    Year built
    2024
    Property size
    8,000 SF
    Property type
    Retail properties

    Description

    This 8,000 square foot retail building, constructed in 2024, is situated on a 1.52-acre lot in Covington, Indiana, and boasts a prime location directly off I-74 West, easily accessible from the State Road 63 exit. The property is zoned commercial and features a single-story building with multiple tenancy options. Currently, 3,600 square feet of space is available, with a minimum divisible unit of 2,400 square feet. This presents a unique opportunity for businesses seeking high visibility and convenient access to a major interstate. The property's strategic location places it adjacent to a travel plaza housing Arby's and Dunkin', and across State Road 63 from the Beef House Restaurant, ensuring high foot traffic and brand synergy. The property's address is 16502 N. State Road 63, Covington, IN 47932, with the APN number 83-01-04-200-011.000-009 in Vermillion County. This is an exceptional opportunity for businesses seeking a high-traffic location with excellent visibility and accessibility. The building's modern construction and flexible space options make it ideal for a variety of retail uses.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Vermillion
    State
    Indiana
    Longitude
    -87.451
    Latitude
    40.1241

    Comparable in this City

    • Value Estimation by Request
      1,760 SF

      314 Liberty St

      RETAIL STORES (PERSONAL SERVICES) • 1,760 SF
      314 Liberty St, Covington, IN 47932-1243
      View Details
    • Value Estimation by Request
      1,890 SF

      2522 Us Hwy 136

      RETAIL STORES (PERSONAL SERVICES) • 1,890 SF
      2522 Us Hwy 136, Covington, IN 47932-8102
      View Details
    • Value Estimation
      $350,000
      5,616 SF

      401 Washington St

      FINANCIAL BUILDING • 5,616 SF
      401 Washington St, Covington, IN 47932-1258
      View Details
    • Value Estimation
      $570,000
      7,680 SF

      506 4th St

      GYM, HEALTH SPA • 7,680 SF
      506 4th St, Covington, IN 47932-1127
      View Details
    • Value Estimation
      $555,000
      22,039 SF

      16501 State Rd 63

      RESTAURANT • 22,039 SF
      16501 State Rd 63, Covington, IN 47932-7042
      View Details
    • Value Estimation
      $370,000
      4,500 SF

      147 Stringtown Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      147 Stringtown Rd, Covington, IN 47932-8002
      View Details

    Similar Nearby for Sale

    • $825,000
      8,000 SF

      Net Leased Dollar General, IN

      High-yield, single-tenant retail investment.
      421 Jefferson St, Covington, IN 47932
      View Details
    • $825,000
      8,000 SF

      NNN Leased Dollar General Store

      Long-term NNN leased Dollar General in downtown Covington, Indiana.
      421 Jefferson St, Covington, IN 47932
      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.
    16502 In-63
    Covington, IN 47932
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    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.