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    Property profile & analytics

    1002 Nichol Ave Anderson, IN 46016-3460

    • Grocery and convenience stores
    • 2,380 SF
    • 0.63 lot acres
    OFF-MARKET
    Last Sale
    May 03, 2021
    $240,000
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0522306
    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

    • Conoco / Gas Station
    • Bitstop Bitcoin ATM / Atm / Currency Exchange Service
    • Coinsource Bitcoin ATM / Atm

    Property Details for 1002 Nichol Ave

    Year built
    1963
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.63 lot acres
    Property size
    2,380 SF
    Property type
    Grocery and convenience stores
    APN
    48-11-14-101-081.000-003
    APU
    481114101081000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $240,000
      ML approach
      $220,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $243,000
      Market price range: $214k - $303k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $240,000
      RETAIL STORES
      $205,000
      COMMERCIAL (GENERAL)
      $170,000
      MEDICAL BUILDING
      $170,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Madison
    State
    Indiana
    Longitude
    -85.6925
    Latitude
    40.1045
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, 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
    $8,701
    $47,400
    $221,400
    $268,800
    -
    $47,400
    $221,400
    $268,800

    Comparable in this City

    • Value Estimation
      $295,000
      2,396 SF

      2 Madison Ave

      CONVENIENCE STORE • 2,396 SF
      2 Madison Ave, Anderson, IN 46016-2362
      View Details
    • Value Estimation
      $865,000
      57,535 SF

      3050 Meridian St

      GROCERY, SUPERMARKET • 57,535 SF
      3050 Meridian St, Anderson, IN 46016-5262
      View Details
    • Value Estimation
      $265,000
      6,336 SF

      15 29th St

      CONVENIENCE STORE (W/FUEL PUMP) • 6,336 SF
      15 29th St, Anderson, IN 46016-5202
      View Details
    • Value Estimation
      $265,000
      5,554 SF

      1909 8th St

      GROCERY, SUPERMARKET • 5,554 SF
      1909 8th St, Anderson, IN 46016-2513
      View Details
    • Value Estimation
      $330,000
      6,522 SF

      2508 Central Ave

      CONVENIENCE STORE • 6,522 SF
      2508 Central Ave, Anderson, IN 46016-5124
      View Details
    • Value Estimation
      $305,000
      3,150 SF

      501 Jackson St

      CONVENIENCE STORE • 3,150 SF
      501 Jackson St, Anderson, IN 46016-1135
      View Details

    Similar Nearby for Sale

    • $400,000
      5,554 SF

      Former Supermarket on Busy Street

      5,554 SF retail building with ample parking for sale.
      1909 W 8Th St, Anderson, IN 46016
      View Details
    • $225,000
      5,788 SF

      Anderson Retail Investment Opportunity

      Three retail properties in Anderson, Indiana, with updated features.
      1213 Main Street Rd, Anderson, IN 46016
      View Details
    • $499,999
      2,775 SF

      Established Auto Shop For Sale

      Operating auto shop with equipment and real estate for sale.
      312 E 14Th St, Anderson, IN 46016
      View Details
    • $90,000
      4,788 SF

      the property is gutted ready for you to redesign and customize the interior to fit your future business needs. Property includes two parcels: 481111304198000003 and 481111304199000003. Property is being sold AS-IS. Buyer to do own due diligence and verify all information regarding zoning and square footage.""""}"""

      Anderson Retail Space - Huge Potential!
      1929 8Th St, Anderson, IN 46016
      View Details
    • $685,000
      3,000 SF

      Bar/Restaurant with Expansion Potential

      3,000 SF bar/restaurant with liquor license and parking.
      1610 Arrow Ave, Anderson, IN 46016
      View Details
    • New
      $85,000
      0.24 Acres

      Downtown Anderson Parking Lot For Sale

      32-space parking lot in downtown Anderson, near courthouse.
      Meridian St, Anderson, IN 46016
      View Details

    Similar Nearby for Lease

    • New
      $1,495 /Mo
      8,037 SF

      Anderson Office or Retail Space

      1,100 SF office/retail space near Scatterfield Rd & Mounds Rd.
      2213 S Scatterfield Rd, Anderson, IN 46016
      View Details
    • $13 SF/Yr
      1,100 SF

      Retail Space Near Mounds Mall

      Retail space available in well-maintained shopping center.
      1821-1829 E 18Th St, Anderson, IN 46016
      View Details
    • $13 SF/Yr
      6,369 SF

      Anderson Retail Center: Prime Location

      High-traffic retail space available.
      1829 18Th St, Anderson, IN 46016
      View Details
    • Contact for pricing
      3,456 SF

      Retail Space in Anderson Center

      Retail opportunity in a 335,000-SF power center.
      2040 S Scatterfield Rd, Anderson, IN 46016
      View Details
    • $10 SF/Yr
      13,436 SF

      Restaurant/Bar Opportunity in Anderson, IN

      Retail/Restaurant space with ample parking and drive-through.
      1323 Jackson St, Anderson, IN 46016
      View Details
    • $4 SF/Yr
      70,000 SF

      Industrial Space with Outdoor Storage

      Industrial property for lease with drive-in doors and cranes.
      2316 Jefferson St, Anderson, IN 46016
      View Details
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    1002 Nichol Ave
    Anderson, IN 46016-3460
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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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