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    Property profile & analytics

    106 2nd St Seymour, IN 47274-2108

    • Retail space
    • 5,068 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1673937
    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

    • This Old Guitar Music Store / Musical Instrument Store
    • Mellencamp Plaza / City Park
    • Mann Bookkeeping & Tax Service Inc. / Accountant
    • Green-Owens Insurance Inc / Insurance Agency / Health Insurance Agency
    • Hilliard Lyons / Financial Consultant

    Property Details for 106 2nd St

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Property size
    5,068 SF
    Property type
    Retail space
    APN
    36-66-17-317-003.000-009
    APU
    366617317003000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $222,000
      Market price range: $191k - $543k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $345,000
      Current use
      AUTO REPAIR, GARAGE
      $430,000
      Change: +24% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $360,000
      Change: +4% Conversion: Easy
      RESTAURANT
      $290,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Seymour
    County
    Jackson
    State
    Indiana
    Longitude
    -85.8897
    Latitude
    38.9596
    CBSA code
    42980
    CBSA name
    SEYMOUR, 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
    $3,385
    $15,000
    $102,000
    $117,000
    -
    $15,000
    $102,000
    $117,000

    Comparable in this City

    • Value Estimation
      $270,000
      2,636 SF

      10000 Us Hwy 31

      RETAIL STORES (PERSONAL SERVICES) • 2,636 SF
      10000 Us Hwy 31, Seymour, IN 47274
      View Details
    • Value Estimation
      $130,000
      7,000 SF

      1250 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      1250 2nd St, Seymour, IN 47274-2764
      View Details
    • Value Estimation
      $280,000
      372 SF

      701 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 372 SF
      701 3rd St, Seymour, IN 47274-3903
      View Details
    • Value Estimation
      $285,000
      2,240 SF

      6528 County Rd 400th E

      RETAIL STORES (PERSONAL SERVICES) • 2,240 SF
      6528 County Rd 400th E, Seymour, IN 47274-9191
      View Details
    • Value Estimation
      $300,000
      6,528 SF

      205 Maple St

      RETAIL STORES (PERSONAL SERVICES) • 6,528 SF
      205 Maple St, Seymour, IN 47274-2788
      View Details
    • Value Estimation
      $225,000
      2,602 SF

      726 Tipton St

      RETAIL STORES (PERSONAL SERVICES) • 2,602 SF
      726 Tipton St, Seymour, IN 47274-3522
      View Details

    Similar Nearby for Sale

    • $425,000
      0.85 Acres

      Seymour Retail Building - Hwy 31

      High-traffic location, versatile retail space.
      5028 Us Highway 31, Seymour, IN 47274
      View Details
    • $509,000
      4,400 SF

      Seymour Diner: Prime Downtown Location

      Established Diner, Multi-Tenant Building, High Traffic Area
      200 Chestnut St, Seymour, IN 47274
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    • $625,000
      0.34 Acres

      Seymour Retail Building - High Traffic

      New Retail Building, High Visibility, US 50
      1416 Tipton St, Seymour, IN 47274
      View Details
    • $325,000
      2.56 Acres

      Seymour, IN: Dual Shop Property

      Two shops, 2.56 acres, ready to work!
      County Road 1240, Seymour, IN 47274
      View Details
    • $55,000
      1.07 Acres

      Residential Lots in Seymour, Indiana

      Residential land available in Seymour, Indiana with utilities access.
      10405 Emerald Ct N, Seymour, IN 47274
      View Details
    • $599,000
      Pending

      Commercial Land Near I-65

      6.2 acres of commercial land at I-65 and Highway 50.
      2615 E Tipton St, Seymour, IN 47274
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,500 SF

      Retail Space in Village Center

      Retail space available in a well-located village center.
      1501-1541 E Tipton St, Seymour, IN 47274
      View Details
    • $10 SF/Yr
      165,000 SF

      Seymour Shoppes: Prime Retail/Office Space

      165,000 SF Multi-Use Center, I-65 Frontage
      357 Tanger Blvd, Seymour, IN 47274
      View Details
    • Contact for pricing
      29,893 SF

      Retail Space on Main Corridor

      Retail property located on a main retail corridor.
      2000 East Tipton St, Seymour, IN 47274
      View Details
    • $15 SF/Yr
      14,906 SF

      Seymour Retail Center Investment

      High-traffic retail strip center, 2 spaces available.
      1171 Tipton St, Seymour, IN 47274
      View Details
    • $3,577 /Mo
      6,288 SF

      Office Space For Lease

      Office space for lease in high visibility area.
      1239 E 4Th St, Seymour, IN 47274
      View Details
    • Contact for pricing
      22,000 SF

      Seymour Industrial Space For Lease

      Versatile Manufacturing/Warehouse Space Available
      1104 A Ave, Seymour, IN 47274
      View Details
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    Seymour, IN 47274-2108
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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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