Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1201 Ohio St Martinsville, IN 46151

    • Warehouses
    • 197,739 SF
    • 17.27 lot acres
    For Sale
    View listing
    $500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2329634
    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

    • Warehouses

    Property Details for 1201 Ohio St

    Year built
    1952
    Construction
    TYPE NOT SPECIFIED
    Lot size
    17.27 lot acres
    Property size
    197,739 SF
    Property type
    Warehouses
    APN
    55-13-04-490-002.000-021
    APU
    551304490002000021

    Description

    This exceptional 225,000 square foot multi-tenant industrial and office building, located at 1201 S Ohio St, Martinsville, IN 46151, presents a unique opportunity for businesses seeking flexible and strategically located space. Built in 1970 and zoned I-2, the property offers a variety of configurations to suit diverse needs. Three spaces are currently available, ranging from 5,699 to 18,700 contiguous square feet, with a total of 31,699 square feet currently vacant. The building's diverse subtypes include executive office, flex space, warehouse, and distribution capabilities, making it ideal for a wide range of businesses. One flex space includes standard overhead doors, enhancing its versatility. The property benefits from its proximity to the recently constructed I-69 ramp, providing easy access to major transportation arteries. This turnkey solution combines office and storage functionality in a single location, offering businesses a strategic advantage within Morgan County. The minimum divisible space is 5,699 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Morgan
    State
    Indiana
    Longitude
    -86.4208
    Latitude
    39.415
    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
    $66,297
    $1,359,900
    $1,991,200
    $3,351,100
    -
    $1,359,900
    $1,991,200
    $3,351,100

    Comparable in this City

    • Value Estimation by Request
      3,824 SF

      559 Poston Rd

      STORAGE YARD, OPEN STORAGE • 3,824 SF
      559 Poston Rd, Martinsville, IN 46151-2740
      View Details
    • Value Estimation
      $585,000
      9,000 SF

      1000 Industrial Dr

      WAREHOUSE, STORAGE • 9,000 SF
      1000 Industrial Dr, Martinsville, IN 46151-8095
      View Details
    • Value Estimation by Request
      9,000 SF

      5140 Wilbur Rd

      STORAGE YARD, OPEN STORAGE • 9,000 SF
      5140 Wilbur Rd, Martinsville, IN 46151-7015
      View Details
    • Value Estimation by Request
      2,400 SF

      1439 Morgan St

      STORAGE YARD, OPEN STORAGE • 2,400 SF
      1439 Morgan St, Martinsville, IN 46151-1751
      View Details
    • Value Estimation by Request
      2,256 SF

      321 Poston Rd

      STORAGE YARD, OPEN STORAGE • 2,256 SF
      321 Poston Rd, Martinsville, IN 46151-2849
      View Details
    • Value Estimation by Request
      1,920 SF

      40 State Rd 39th S Byp

      WAREHOUSE, STORAGE • 1,920 SF
      40 State Rd 39th S Byp, Martinsville, IN 46151
      View Details

    Similar Nearby for Sale

    • $449,900
      1,432 SF

      Prime Commercial Corner Lot

      High-visibility corner lot with immediate I-69 access in Martinsville.
      9393 N Waverly Park Rd, Martinsville, IN 46151
      View Details
    • $850,000
      5,000 SF

      Martinsville Commercial Property For Sale

      Versatile commercial property with high visibility and flexible use options.
      400 E Mahalasville Dr, Martinsville, IN 46151
      View Details
    • $850,000
      5,000 SF

      Versatile Commercial Building in Martinsville

      High-visibility commercial property with office and manufacturing space for sale.
      400 E Mahalasville Dr, Martinsville, IN 46151
      View Details
    • $373,797

      Former Farm Credit Building For Sale

      Brick building with flexible layout, offices, and expansion potential.
      1209 E Morgan St, Martinsville, IN 46151
      View Details
    • $235,000
      3,116 SF

      Martinsville Mixed-Use Commercial Property

      Renovated building, high visibility, multi-use potential.
      658 Sr 67, Martinsville, IN 46151
      View Details
    • Contact for pricing

      Martinsville, IN Commercial Land

      15.25 Acres, Multifamily Potential
      0 Mahalasville Rd, Martinsville, IN 46151
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      43,124 SF

      Versatile Commercial/Industrial Building in Martinsville

      5,000 sq ft building with office and manufacturing space.
      400 E Mahalasville Dr, Martinsville, IN 46151
      View Details
    • $2,500 /Mo
      2,500 SF

      Versatile Commercial/Industrial Property in Martinsville

      Mixed-use property with high visibility and flexible commercial options.
      400 E Mahalasville Dr, Martinsville, IN 46151
      View Details
    • $3,000 /Mo
      2,116 SF

      Martinsville Office Space For Rent

      Former Farm Credit building with flexible office space available for rent.
      1209 E Morgan St, Martinsville, IN 46151
      View Details
    • $252 SF/Yr
      2,000 SF

      Morgan Street Office Building

      Versatile Office Space - 2,000 sq ft
      1209 Morgan St, Martinsville, IN 46151
      View Details
    • $20 SF/Yr
      1,558 SF

      Retail Space with Flexible Layout

      Modern retail property with ample parking and high visibility.
      35-49 Bills Blvd, Martinsville, IN 46151
      View Details
    • $9,945 /Mo
      58,754 SF

      Martinsville Retail Space Available

      Retail property available for lease in Martinsville, Indiana.
      2020-2138 Burton Ln, Martinsville, IN 46151
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1201 Ohio St
    Martinsville, IN 46151
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.