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    Property profile & analytics

    1008 Main Street Rd Vincennes, IN 47591

    • Turn key restaurants
    • 2,556 SF
    • 0.12 lot acres
    For Sale
    View listing
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0882374
    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

    • Willie's Pub / Bar

    Property Details for 1008 Main Street Rd

    Year built
    1890
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.12 lot acres
    Property size
    2,556 SF
    Property type
    Turn key restaurants
    APN
    42-12-21-405-014.000-022
    APU
    421221405014000022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $200,000
      Current use
      RETAIL STORES
      $235,000
      Change: +16% Conversion: Easy
      AUTO REPAIR, GARAGE
      $185,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $180,000
      Change: -10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $170,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Vincennes
    County
    Knox
    State
    Indiana
    Longitude
    -87.5258
    Latitude
    38.6737
    CBSA code
    47180
    CBSA name
    VINCENNES, IN MICROPOLITAN 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
    $2,415
    $12,200
    $66,600
    $78,800
    -
    $12,200
    $66,600
    $78,800

    Comparable in this City

    • Value Estimation
      $240,000
      1,260 SF

      508 Main St

      RESTAURANT • 1,260 SF
      508 Main St, Vincennes, IN 47591-2008
      View Details
    • Value Estimation
      $280,000
      1.04 Acres

      2575 Hart St

      RESTAURANT • 1.04 Acres
      2575 Hart St, Vincennes, IN 47591-6339
      View Details
    • Value Estimation
      $250,000
      2,584 SF

      2565 Hart St

      RESTAURANT • 2,584 SF
      2565 Hart St, Vincennes, IN 47591-6339
      View Details
    • Value Estimation
      $350,000
      3,719 SF

      1277 Hart St Rd

      RESTAURANT • 3,719 SF
      1277 Hart St Rd, Vincennes, IN 47591-9050
      View Details
    • Value Estimation
      $380,000
      4,318 SF

      2320 Hart St

      RESTAURANT • 4,318 SF
      2320 Hart St, Vincennes, IN 47591-6338
      View Details
    • Value Estimation
      $410,000
      5,508 SF

      609 Kimmell Rd

      RESTAURANT • 5,508 SF
      609 Kimmell Rd, Vincennes, IN 47591-6307
      View Details

    Similar Nearby for Sale

    • $570,000
      0.15 Acres

      Historic Bar and Event Space

      Multifunctional building in downtown Vincennes with bar and event space.
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    • $350,000
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      Established Restaurant/Bar in Vincennes, IN

      Restaurant/bar with recent upgrades and social media following for sale.
      1008 Main Street Rd, Vincennes, IN 47591
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    • $449,900
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      124 Main Vincennes

      Restaurants • 0.11 Acres
      124 Main St, Vincennes, IN 47591
      View Details
    • $339,900
      Pending

      Downtown Vincennes Destination Opportunity

      Prime location with bar equipment, rental income, and expansion potential.
      124 Main Street Rd, Vincennes, IN 47591
      View Details
    • Contact for pricing
      6,760 SF

      Retail Space on Hart Street

      Retail property with high visibility in a commercial corridor.
      1575 Hart St, Vincennes, IN 47591
      View Details
    • $1,740,000
      10,125 SF

      CVS Absolute NNN Asset

      10,125 SF CVS NNN property for sale.
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    Similar Nearby for Lease

    • $3,000 /Mo
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      Versatile Commercial Property in Vincennes

      Adaptable space suitable for retail, office, or service businesses.
      21 S 13Th St, Vincennes, IN 47591
      View Details
    • $22 SF/Yr
      9,600 SF

      Kimmell Plaza Retail Center

      Vincennes, IN Strip Center - 1 Space Available
      632 Kimmell Rd, Vincennes, IN 47591
      View Details
    • Contact for pricing
      7,046 SF

      Vincennes Retail Center - Prime Location

      High-Visibility Retail Space Available in Indiana
      601 College Ave, Vincennes, IN 47591
      View Details
    • $15 SF/Yr
      44,962 SF

      Kimmell Crossing Retail Space

      Vincennes Retail Center: 4,800 SF Available
      648 Kimmell Rd, Vincennes, IN 47591
      View Details
    • Contact for pricing
      26,107 SF

      Retail Space in Knox Plaza

      Retail space available in high-visibility Vincennes shopping center.
      2333 N 6Th St, Vincennes, IN 47591
      View Details
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    Vincennes, IN 47591
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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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