Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6486 Pilot Knob Rd Milltown, IN 47145

    Property Lookup

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

    6486 Pilot Knob Rd Milltown, IN 47145

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

    Current Use by Public Records

    • Whitmire's Chapel of Prayer / Church

    Property Details for 6486 Pilot Knob Rd

    Lot size
    0.20 lot acres
    Property type
    Commercial real estate

    Description

    This unique 0.2-acre property in Milltown, Indiana, presents a charming country church building ripe for renovation and repurposing. Located at 6486 E Pilot Knob Road, the property offers significant potential for a variety of uses, subject to local zoning regulations. The existing structure is a quaint church building, currently in need of improvements. The peaceful setting provides a tranquil atmosphere, ideal for those seeking a project with character and potential. The property's size, at 0.2 acres, offers ample space for potential expansion or landscaping. While currently listed as both commercial and residential, this versatile property presents a rare opportunity for an investor or entrepreneur with a vision. The asking price is $39,900. Further due diligence is recommended to assess the property's condition and potential for development. This includes, but is not limited to, a thorough inspection of the building's structural integrity, a review of local zoning ordinances, and an assessment of any necessary permits or approvals for any intended use. The property is sold as-is. Serious inquiries only. Additional information, including MLS #2023010529 for residential listing details, is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Milltown
    County
    Crawford
    State
    Indiana
    Longitude
    -86.3387
    Latitude
    38.3063

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      Spg St

      COMMERCIAL (GENERAL) • 0.24 Acres
      Spg St, Milltown, IN 47145
      View Details
    • Value Estimation by Request
      4,739 SF

      128 Main St

      COMMERCIAL (GENERAL) • 4,739 SF
      128 Main St, Milltown, IN 47145
      View Details
    • Value Estimation by Request
      0.95 Acres

      Sr 64

      COMMERCIAL (GENERAL) • 0.95 Acres
      Sr 64, Milltown, IN 47145
      View Details
    • Value Estimation by Request
      880 SF

      203 Main St

      COMMERCIAL (GENERAL) • 880 SF
      203 Main St, Milltown, IN 47145-2677
      View Details
    • Value Estimation by Request
      4,978 SF

      11774 Marengo Pike

      COMMERCIAL (GENERAL) • 4,978 SF
      11774 Marengo Pike, Milltown, IN 47145
      View Details
    • Value Estimation by Request
      10,428 SF

      Main St

      COMMERCIAL (GENERAL) • 10,428 SF
      Main St, Milltown, IN 47145
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Milltown Rehab Opportunity

      Prime Milltown location, needs complete renovation.
      209 Main St, Milltown, IN 47145
      View Details
    • Contact for pricing

      Quaint Church on Peaceful Lot

      Country church ready for improvements on a peaceful lot.
      6486 E Pilot Knob Rd, Milltown, IN 47145
      View Details
    • Contact for pricing
      1,024 SF

      Milltown Mini Farm Auction

      17.64 acre mini farm with modern berm home.
      8054 E Baylor Rd, Milltown, IN 47145
      View Details
    • Contact for pricing

      Established Self-Storage Facility for Sale

      Profitable self-storage business with expansion potential in Milltown, Indiana.
      2700 S State Road 66, Milltown, IN 47145
      View Details
    • $226,000
      40.00 Acres

      Crawford County Recreational Land

      40-acre wooded property perfect for outdoor enthusiasts and hunters.
      Pilot Knob Rd, Milltown, IN 47145
      View Details
    • Contact for pricing
      1,434 SF

      Acreage with Barn and Pond

      Secluded property featuring a barn, pond, and tillable acreage.
      7399 E Shafer Ridge Rd, Milltown, IN 47145
      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.
    6486 Pilot Knob Rd
    Milltown, IN 47145
    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!