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    Property profile & analytics

    1207 Heaton St Knox, IN 46534

    • Retail space
    • 14,187 SF
    • 2.04 lot acres
    For Sale
    View listing
    $3,431,000
    Value Estimation
    Location Intelligence
    Property ID
    US31-0932550
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1207 Heaton St

    Year built
    2005
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.04 lot acres
    Property size
    14,187 SF
    Property type
    Retail space
    APN
    75-06-27-202-005.000-004
    APU
    750627202005000004

    Description

    This exceptional investment opportunity presents the fee simple ownership of a freestanding Walgreens located at 1207 S Heaton St, Knox, IN 46534. The property, built in 2005 and encompassing 14,259 square feet on a 2.04-acre lot, boasts a 100% occupancy rate with a corporate guaranteed Walgreens lease. The current lease, commenced January 1st, 2006, has a remaining term of 6.2 years with ten 5-year renewal options, extending to January 31st, 2031. The property features 62 parking spaces and is zoned C-2: General Commercial. The Net Lease (NN) structure minimizes landlord responsibilities, making this an ideal low-management investment. Situated as an outparcel to a grocery-anchored center experiencing over 1.9 million annual visits, the Walgreens benefits from high visibility and significant crossover traffic. The property enjoys limited competition within a 15-mile radius and serves a strong demographic area with over 9,700 residents and 3,600 employees within a 5-mile radius, boasting an average household income of $73,363. The asking price is $3,431,000, representing a price per square foot of $240.62 and an 8.00% cap rate with a current NOI of $274,500. This strategically located asset offers a compelling combination of strong tenant, long-term lease, and attractive financial metrics. The property's prime location along US Highway 35 (13,300 vehicles per day) further enhances its appeal.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $550,000

    • CAP approach

      CAP return
      Estimation
      6%
      $600,000
      6.5%
      $665,000
      7%
      $620,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $615,000
      Geo Method
      $590,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $685,000
      Retail
      $600,000
      Mixed-Use
      $715,000
      Hospitality
      $550,000
      Educational
      $560,000
      Residential Income
      $555,000
      Energy
      $555,000
      Income-Based Land
      $730,000
      Food Service
      $625,000

    Location Insight

    • Map
    • Local Demand
    City
    Knox
    County
    Starke
    State
    Indiana
    Longitude
    -86.6213
    Latitude
    41.2855

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,448
    $226,000
    $702,200
    $928,200
    -
    $226,000
    $702,200
    $928,200

    Comparable in this City

    • Value Estimation by Request
      7,804 SF

      2960 Range Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,804 SF
      2960 Range Rd, Knox, IN 46534-8061
      View Details
    • Value Estimation by Request
      5,500 SF

      Toto Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,500 SF
      Toto Rd, Knox, IN 46534
      View Details
    • Value Estimation
      $325,000
      4,180 SF

      1102 Heaton St

      RETAIL STORES (PERSONAL SERVICES) • 4,180 SF
      1102 Heaton St, Knox, IN 46534-2308
      View Details
    • Value Estimation
      $385,000
      5,880 SF

      1204 Heaton St

      RETAIL STORES (PERSONAL SERVICES) • 5,880 SF
      1204 Heaton St, Knox, IN 46534-2353
      View Details
    • Value Estimation
      $320,000
      3,840 SF

      12 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,840 SF
      12 Main St, Knox, IN 46534-1125
      View Details
    • Value Estimation
      $340,000
      12,588 SF

      3300 Us Hwy 35

      RETAIL STORES (PERSONAL SERVICES) • 12,588 SF
      3300 Us Hwy 35, Knox, IN 46534-7892
      View Details

    Similar Nearby for Sale

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    1207 Heaton St
    Knox, IN 46534
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    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
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