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    Property profile & analytics

    302 Elm St Clinton, IN 47842

    • Commercial real estate
    • 1,450 SF
    • 0.34 lot acres
    For Sale
    View listing
    $150,000
    Last Sale
    Jul 12, 2024
    Value Estimations
    Cap Rate Potential
    4.5%
    Commercial real estate
    Location Intelligence
    Property ID
    US31-1582650
    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

    • Commercial real estate

    Property Details for 302 Elm St

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    1,450 SF
    Property type
    Commercial real estate
    APN
    83-13-15-310-045.000-002
    APU
    831315310045000002

    Description

    This exceptional 0.4-acre property, located at 302 Elm Street in Clinton, Indiana, presents a unique investment opportunity. Situated on a prominent corner lot within Clinton's vibrant Business District, this former gas station offers significant redevelopment potential. The ample onsite parking provides a considerable advantage for any future business venture. The property's size and location make it ideal for a variety of commercial uses, from retail establishments to service businesses. The existing structure, while a former gas station, provides a solid foundation for renovation or demolition, depending on the chosen development plan. The substantial lot size allows for ample space for expansion or the addition of complementary structures. This property is priced competitively at $150,000, reflecting its significant upside potential. Given its prime location and considerable size, this property is poised for substantial growth and return on investment. Serious inquiries are encouraged to explore the possibilities of this exceptional commercial property. The property is conveniently located within Clinton's Business District, offering easy access to major thoroughfares and a high volume of daily traffic. This presents a significant opportunity for businesses seeking high visibility and accessibility. The substantial lot size offers flexibility in development plans, allowing for customization to suit a variety of commercial needs. Don't miss this chance to acquire a prime piece of commercial real estate in a thriving Indiana community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $175,000
      6.5%
      $160,000
      7%
      $150,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $145,000
      Market price range: $36.4k - $145k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $150,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clinton
    County
    Vermillion
    State
    Indiana
    Longitude
    -87.4
    Latitude
    39.6569
    CBSA code
    45460
    CBSA name
    TERRE HAUTE, IN METROPOLITAN STATISTICAL AREA

    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
    $1,848
    $36,100
    $25,500
    $61,600
    -
    $36,100
    $25,500
    $61,600

    Comparable in this City

    • Value Estimation
      $250,000
      0.02 Acres

      100 1200th S

      COMMERCIAL (GENERAL) • 0.02 Acres
      100 1200th S, Clinton, IN 47842-7436
      View Details
    • Value Estimation
      $195,000
      6,210 SF

      238 Blackman St

      COMMERCIAL (GENERAL) • 6,210 SF
      238 Blackman St, Clinton, IN 47842-2307
      View Details
    • Value Estimation
      $190,000
      5,670 SF

      248 Blackman St

      COMMERCIAL (GENERAL) • 5,670 SF
      248 Blackman St, Clinton, IN 47842-2307
      View Details
    • Value Estimation
      $60,000
      5,712 SF

      224 Main St

      COMMERCIAL (GENERAL) • 5,712 SF
      224 Main St, Clinton, IN 47842-2404
      View Details
    • Value Estimation
      $240,000
      4,000 SF

      12098 State Rd 71

      COMMERCIAL (GENERAL) • 4,000 SF
      12098 State Rd 71, Clinton, IN 47842-7482
      View Details
    • Value Estimation by Request
      2,490 SF

      1780 1780th Ss

      COMMERCIAL (GENERAL) • 2,490 SF
      1780 1780th Ss, Clinton, IN 47842
      View Details

    Similar Nearby for Sale

    • $350,000
      0.34 Acres

      335 3Rd St, Clinton, IN 47842

      Commercial real estate • 0.34 Acres
      335 3Rd St, Clinton, IN 47842
      View Details
    • $150,000
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      Clinton Corner Lot Development Opportunity

      Prime Business District location, high potential.
      302 Elm St, Clinton, IN 47842
      View Details
    • $225,000
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      Downtown Clinton Business Opportunity

      Large building, ample parking, high potential.
      320 3Rd St, Clinton, IN 47842
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    • $165,000
      0.38 Acres

      Clinton Commercial Building - Prime Location

      Versatile Commercial Space w/ Apartment
      422 Main St, Clinton, IN 47842
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    • Contact for pricing
      9,999.00 Acres

      Residential Land in Bella Lakes

      Residential development land in Bella Lakes Subdivision, Clinton, Indiana.
      Bella Lk, Clinton, IN 47842
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    • $150,000
      0.34 Acres

      Clinton Business District Former Dealership

      Historical building with office and service areas in Clinton, Indiana.
      335 3 Plc, Clinton, IN 47842
      View Details
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    Clinton, IN 47842
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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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