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

    1261 State St, Unit 1295 Greenfield, IN 46140-1056

    • Retail space
    • 2,432 SF
    • 2.66 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0849457
    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

    • Retail space

    Property Details for 1261 State St

    Year built
    2007
    Construction
    WOOD
    Lot size
    2.66 lot acres
    Property size
    2,432 SF
    Property type
    Retail space
    APN
    30-07-29-400-011.000-009
    APU
    300729400011000009

    Description

    This exceptional investment opportunity presents a 11,757 square foot, Class B retail center located at 1261-1267 N. State St., Greenfield, Indiana, 46140. Currently 100% occupied, the property features a diverse tenant mix including Subway, Greenfield Chiropractic, Liberty Tax, and Shining Stars Child Academy, demonstrating strong existing income streams. The property is classified as Office, Retail, and specifically as QSR/Fast Food, Restaurant, and Storefront. Its institutional investment type makes it an attractive option for portfolio diversification. The strategic location on State Street in Greenfield, Indiana offers excellent visibility and accessibility, with convenient proximity to I-70, ensuring high traffic flow and customer reach. The surrounding area boasts a vibrant mix of local businesses and national retailers, creating a thriving commercial environment. Furthermore, its proximity to amenities such as Greenfield Plaza and Riley Park, and Hancock Regional Hospital, enhances its appeal and potential for future growth. This unique strip center presents a compelling opportunity for investors seeking a stable, high-occupancy property in a rapidly growing area. The asking price for this exceptional property is $1,800,000.

    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
    Greenfield
    County
    Hancock
    State
    Indiana
    Longitude
    -85.768
    Latitude
    39.8014
    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
    $32,941
    $427,100
    $1,186,300
    $1,613,400
    -
    $427,100
    $1,186,300
    $1,613,400

    Comparable in this City

    • Value Estimation by Request
      4,432 SF

      I 70th Eastbound

      RETAIL STORES (PERSONAL SERVICES) • 4,432 SF
      I 70th Eastbound, Greenfield, IN 46140
      View Details
    • Value Estimation by Request
      1,848 SF

      1001 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,848 SF
      1001 Main St, Greenfield, IN 46140-1920
      View Details
    • Value Estimation by Request
      2,880 SF

      14 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      14 Main St, Greenfield, IN 46140-2360
      View Details
    • Value Estimation
      $930,000
      10,062 SF

      2265 State St

      RETAIL STORES (PERSONAL SERVICES) • 10,062 SF
      2265 State St, Greenfield, IN 46140
      View Details
    • Value Estimation
      $565,000
      5,521 SF

      1776 1780th N State St

      RETAIL STORES (PERSONAL SERVICES) • 5,521 SF
      1776 1780th N State St, Greenfield, IN 46140
      View Details
    • Value Estimation by Request
      5,200 SF

      5 American Legion Pl

      RETAIL STORES (PERSONAL SERVICES) • 5,200 SF
      5 American Legion Pl, Greenfield, IN 46140-2317
      View Details

    Similar Nearby for Sale

    • $1,500,000
      7,800 SF

      Multi-Tenant Retail Building For Sale

      7,800 SF retail building with existing tenants in Greenfield, IN.
      1789-1798 Melody Ln, Greenfield, IN 46140
      View Details
    • $6,377,592
      33,090 SF

      Fully Leased Retail Center

      Fully leased retail center near Hancock Health Hospital.
      1029-1051 N State St, Greenfield, IN 46140
      View Details
    • $340,000
      2,528 SF

      Mixed-Use Investment Opportunity

      Versatile property with commercial space and updated apartments in Greenfield.
      421 N State St, Greenfield, IN 46140
      View Details
    • $3,990,000
      10,608 SF

      Hwy 40 Mixed-Use Portfolio

      Greenfield, IN: Multi-tenant income property
      7183 Us Highway 40, Greenfield, IN 46140
      View Details
    • $340,000
      0.31 Acres

      Greenfield Triplex Investment Opportunity

      Commercial space and two updated apartments in a high-visibility location.
      421 N State St, Greenfield, IN 46140
      View Details
    • $799,000
      0.70 Acres

      Greenfield Commercial Land, IN

      0.7-acre prime commercial lot
      1022 State St, Greenfield, IN 46140
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,768 SF

      Retail Space Available For Rent

      Retail space available for rent, approximately 18,535 square feet.
      1222 North State St, Greenfield, IN 46140
      View Details
    • New
      $1,200 /Mo
      2,500 SF

      Greenfield Mixed-Use Commercial Space

      Versatile commercial space suitable for retail, office, or salon.
      421 N State St, Greenfield, IN 46140
      View Details
    • Contact for pricing
      70,824 SF

      Greenfield Retail Center Opportunity

      Prime Hancock County retail space available.
      2211-2243 Barrett Dr, Greenfield, IN 46140
      View Details
    • Contact for pricing
      15,600 SF

      Gateway Shoppes Retail Space

      Greenfield, IN Retail Opportunity
      2250 Hugar L Phelps Dr, Greenfield, IN 46140
      View Details
    • Contact for pricing
      8,000 SF

      Greenfield Retail Build-to-Suit

      Prime Greenfield location, build-to-suit restaurant opportunity.
      1022 State St, Greenfield, IN 46140
      View Details
    • Contact for pricing
      7,888 SF

      Renovated Industrial Space Near I-70

      7,888 SF industrial space with dock and drive-in doors.
      5559 N 500 W, Greenfield, IN 46140
      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.
    1261 State St, Unit 1295
    Greenfield, IN 46140-1056
    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.