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    Property profile & analytics

    1500 Main St Rushville, IN 46173

    • Retail properties
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 1500 Main St

    Property type
    Retail properties

    Description

    This exceptional retail opportunity is located at 1500 N Main St, Rushville, IN 46173. The property offers a single-tenant space encompassing 1,200 square feet, ideal for a variety of retail businesses. Its prime location on Main Street ensures high visibility and accessibility, benefiting from over 15,000 vehicles passing by daily. This translates to significant foot traffic and potential customer exposure. The property's strong tenant mix further enhances its appeal. Successful and established businesses such as Tractor Supply Co., Dollar General, Save-A-Lot, and Goodwill are co-tenants, creating a vibrant and attractive retail environment. This synergistic location offers the potential for increased customer traffic and brand recognition. The property is classified as retail, offering a single tenancy, making it an excellent choice for businesses seeking a standalone location with high visibility and a proven commercial environment. The property's size and location make it a compelling investment opportunity for businesses looking to establish or expand their presence in a thriving retail corridor. This is a rare opportunity to secure a well-positioned retail space in a high-traffic area with strong co-tenancy. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rushville
    County
    Rush
    State
    Indiana
    Longitude
    -85.4448
    Latitude
    39.6239

    Comparable in this City

    • Value Estimation by Request
      7,000 SF

      1500 Main St

      Lifestyle centers • 7,000 SF
      1500 Main St, Rushville, IN 46173
      View Details
    • Value Estimation by Request
      77,156 SF

      210 Main St

      Retail properties • 77,156 SF
      210 Main St, Rushville, IN 46173
      View Details
    • Value Estimation
      $235,000
      0.14 Acres

      120 2nd St, Unit 122

      PARKING LOT • 0.14 Acres
      120 2nd St, Rushville, IN 46173-1834
      View Details
    • Value Estimation
      $235,000
      0.12 Acres

      Main St

      PARKING LOT • 0.12 Acres
      Main St, Rushville, IN 46173
      View Details
    • Value Estimation
      $245,000
      0.09 Acres

      116 Perkins St

      PARKING LOT • 0.09 Acres
      116 Perkins St, Rushville, IN 46173
      View Details
    • Value Estimation
      $280,000
      2,752 SF

      320 11th St

      RETAIL STORES (PERSONAL SERVICES) • 2,752 SF
      320 11th St, Rushville, IN 46173-1313
      View Details

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    Rushville, IN 46173
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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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