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    Property profile & analytics

    106 Franklin St Milan, IN 47031

    • Commercial real estate
    • 3,160 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US31-1248003
    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

    • Edward Roberts Fine Woodworking LLC / Furniture Repair Shop / General Contractor

    Property Details for 106 Franklin St

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.12 lot acres
    Property size
    3,160 SF
    Property type
    Commercial real estate
    APN
    69-09-24-444-012.000-010
    APU
    690924444012000010

    Description

    This exceptional commercial property, located at 106 Franklin Street in Milan, Indiana, presents a unique investment opportunity. The building, formerly the Milan Theater, boasts a rich history and is situated on a 0.12-acre lot in the heart of town, just around the corner from the Milan 1954 Museum. The brick structure is currently leased to two separate tenants, generating a consistent income stream. The first floor is occupied by a manufacturing business, paying $800 per month in rent. An upstairs apartment is also leased, bringing in an additional $600 monthly. This translates to a combined monthly rental income of $1400. Tenants are responsible for their own utilities, with separate electric and gas meters. Water and sewer costs are split between the tenants. The property benefits from a recently installed new roof, completed in February 2022. This turnkey investment offers a blend of historical charm and strong rental potential, making it an attractive proposition for discerning investors seeking a stable and profitable venture in a desirable location. The property is priced at $163,000. Appointments must be scheduled in advance to allow sufficient time to notify the tenants.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Milan
    County
    Ripley
    State
    Indiana
    Longitude
    -85.1325
    Latitude
    39.1227

    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
    $1,310
    $4,000
    $53,300
    $57,300
    -
    $4,000
    $53,300
    $57,300

    Comparable in this City

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      205 Carr St, Unit 205

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      Main St

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      207 Warpath Dr

      Commercial real estate • 0.41 Acres
      207 Warpath Dr, Milan, IN 47031
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      9,584 SF

      893 State Rd 129

      COMMERCIAL (GENERAL) • 9,584 SF
      893 State Rd 129, Milan, IN 47031-9184
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    • Value Estimation by Request
      0.06 Acres

      Rink St

      COMMERCIAL (GENERAL) • 0.06 Acres
      Rink St, Milan, IN 47031
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    106 Franklin St
    Milan, IN 47031
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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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