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    122 Main St Burket, IN 46508-1000

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    122 Main St Burket, IN 46508-1000

    View on Map
    • Retail space
    • 1,980 SF
    • 0.16 lot acres
    Off-Market
    Last Sale Mar 20, 2025
    $48,000
    Property ID
    US31-1445941
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • United States Postal Service / Post Office / Logistics Service

    Property Details for 122 Main St

    Year built
    1910
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    1,980 SF
    Property type
    Retail space
    APN
    43-14-09-100-066.000-022
    APU
    431409100066000022

    Description

    This exceptional commercial property presents a rare investment opportunity in the thriving town of Burket, Indiana. Situated on a 0.16-acre corner lot at 122 E Main Street, this building enjoys high visibility and convenient access. The property's prime location is complemented by its proximity to other commercial and multi-use buildings, ensuring a bustling and active environment. The existing tenant benefits from a long-term lease, providing immediate and consistent rental income. The building itself offers substantial space, boasting over 1,300 square feet on the main level. This versatile layout includes attractive front retail space, perfect for a variety of businesses, along with a spacious back area ideal for open workspace or storage. A partial basement adds further potential for expansion or storage. Ample street-side parking is available directly in front of and alongside the building, ensuring convenient access for both customers and employees. This property is an excellent choice for investors seeking a stable, income-generating asset in a desirable location. The combination of a strong tenant, prime location, and substantial square footage makes this a truly compelling investment opportunity. Don't miss out on this chance to acquire a valuable piece of Burket's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Burket
    County
    Kosciusko
    State
    Indiana
    Longitude
    -85.9675
    Latitude
    41.1557
    CBSA code
    47700
    CBSA name
    WARSAW, 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
    $932
    $9,800
    $46,200
    $56,000
    -
    $9,800
    $46,200
    $56,000

    Comparable in this City

    • Value Estimation by Request
      1,560 SF

      104 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 1,560 SF
      104 Walnut St, Burket, IN 46508
      View Details
    • Value Estimation by Request
      2,444 SF

      114 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,444 SF
      114 Main St, Burket, IN 46508
      View Details
    • Value Estimation by Request
      0.16 Acres

      103 Main St

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      103 Main St, Burket, IN 46508
      View Details
    • Value Estimation by Request
      3,780 SF

      109 Main St

      PARKING GARAGE, PARKING STRUCTURE • 3,780 SF
      109 Main St, Burket, IN 46508
      View Details
    • Value Estimation by Request
      11,720 SF

      102 Market St

      OFFICE (GENERAL) • 11,720 SF
      102 Market St, Burket, IN 46508
      View Details
    • Value Estimation by Request
      2,400 SF

      Railroad St

      INDUSTRIAL (GENERAL) • 2,400 SF
      Railroad St, Burket, IN 46508
      View Details
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    122 Main St
    Burket, IN 46508-1000
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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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