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

    1500 Sagamore S Pkwy Lafayette, IN 47905-4974

    • Auto shops
    • 9,550 SF
    • 0.61 lot acres
    OFF-MARKET
    Last Sale
    Dec 08, 2020
    $850,000
    Value Estimations
    $880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0706932
    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

    • RNR Tire Express / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 1500 Sagamore S Pkwy

    Year built
    1950
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.61 lot acres
    Property size
    9,550 SF
    Property type
    Auto shops
    APN
    79-07-34-126-002.000-004
    APU
    790734126002000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $985,000
      ML approach
      $1,050,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $662,000
      Market price range: $300k - $1.08M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $705,000
      Current use
      RESTAURANT
      $900,000
      Change: +28% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $700,000
      Change: -1% Conversion: Difficult
      RETAIL STORES
      $615,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Tippecanoe
    State
    Indiana
    Longitude
    -86.858
    Latitude
    40.4024
    CBSA code
    29200
    CBSA name
    LAFAYETTE-WEST LAFAYETTE, 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
    $23,834
    $0.00
    $1,002,900
    $1,002,900
    -
    $0.00
    $1,002,900
    $1,002,900

    Comparable in this City

    • Value Estimation
      $765,000
      16,013 SF

      3437 Ss St

      AUTO REPAIR, GARAGE • 16,013 SF
      3437 Ss St, Lafayette, IN 47905-4721
      View Details
    • Value Estimation
      $575,000
      6,868 SF

      240 Creasy Ln

      AUTO REPAIR, GARAGE • 6,868 SF
      240 Creasy Ln, Lafayette, IN 47905-0750
      View Details
    • Value Estimation by Request
      8,088 SF

      1501 Sagamore S Pkwy

      AUTO REPAIR, GARAGE • 8,088 SF
      1501 Sagamore S Pkwy, Lafayette, IN 47905-6530
      View Details
    • Value Estimation by Request
      1,274 SF

      3463 Mccarty Ln

      AUTO REPAIR, GARAGE • 1,274 SF
      3463 Mccarty Ln, Lafayette, IN 47905
      View Details
    • Value Estimation
      $2,265,000
      34,270 SF

      2051 Sagamore S Pkwy

      AUTO REPAIR, GARAGE • 34,270 SF
      2051 Sagamore S Pkwy, Lafayette, IN 47905-5108
      View Details
    • Value Estimation
      $855,000
      3,808 SF

      41 Creasy Ln

      AUTO REPAIR, GARAGE • 3,808 SF
      41 Creasy Ln, Lafayette, IN 47905
      View Details

    Similar Nearby for Sale

    • $878,900

      Prime Industrial Land Available

      11-acre industrial land with easy access to major highways.
      5035 E 400 S, Lafayette, IN 47905
      View Details
    • $130,000

      Commercial Lots in Established Center

      Two planned unit development lots for sale in West Lafayette.
      142 Sagamore Pkwy West, West Lafayette, IN 47905
      View Details
    • $449,000

      Prime Lafayette Commercial Land

      Build Your Dream Business Here
      3039 Teal Rd, Lafayette, IN 47905
      View Details
    • $135,000
      2.00 Acres

      Residential Land in Secluded Lafayette

      Two-acre residential land parcel in a secluded Lafayette neighborhood.
      8165 Adams Rd, Lafayette, IN 47905
      View Details
    • $420,000
      Pending

      Lafayette Duplex with Pond View

      Fully rented duplex featuring pond views and spacious units.
      514-516 Fairington Ave, Lafayette, IN 47905
      View Details
    • $16,769,500

      Lafayette Shovel Ready Certified Site

      152.45-acre certified site with utilities in Lafayette, Indiana.
      Mccarty Ln, Lafayette, IN 47905
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,854 SF

      Retail Building on US-52

      16,854 SF stand-alone retail building, ample parking, great location.
      50 Sagamore Pkwy S, Lafayette, IN 47905
      View Details
    • $13 SF/Yr
      1,234 SF

      Office and Retail Space Available

      Office and retail space for lease near Lafayette's south side.
      2428 Glick St, Lafayette, IN 47905
      View Details
    • Contact for pricing
      4,424 SF

      Retail Space in Lafayette, Indiana

      Retail space available in established shopping center anchored by major retailers.
      2158-2500 Teal Rd, Lafayette, IN 47905
      View Details
    • Contact for pricing
      250,506 SF

      Lafayette Square Retail Spaces

      Prime Lafayette Restaurant Space Available
      2224-2500 Teal Rd, Lafayette, IN 47905
      View Details
    • Contact for pricing
      1,500 SF

      Renovated Retail Space Available

      Recently renovated retail space near Purdue University.
      2513-2641 Maple Point Dr, Lafayette, IN 47905
      View Details
    • $3,500 /Mo
      1,960 SF

      Retail Space in Lafayette, IN

      Retail space available for lease in Lafayette, Indiana.
      418 Sagamore Pkwy S, Lafayette, IN 47905
      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.
    1500 Sagamore S Pkwy
    Lafayette, IN 47905-4974
    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.