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Property profile & analytics
OFF-MARKET
Turn key restaurants
1503 Park Ave Alexandria, IN 46001-8188
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US31-1029629
Property summary
AI-generated overview
Prime 6.3-acre commercial development land in Alexandria, Indiana, is available for $175,000. This exceptional property boasts a highly visible location at the intersection of SR 9 (North Park Avenue) and SR 28 (East Cleveland Street) in Monroe Township, benefiting from significant traffic counts exceeding 5,500 vehicles per day (VPD) on SR 28 and over 7,000 VPD on SR 9. The property's APN is 48-06-18-200-045.000-022. Zoned B2 General Commercial, this site is ideal for a variety of businesses, including fast food restaurants, gas stations, grocery stores, and drugstores. Utilities are readily available on-site, facilitating a streamlined development process. The location offers excellent proximity to Alexandria's main retail corridor, featuring established businesses such as McDonald's, Pizza King, Dollar General, the Madison County Fair Grounds, and Vic's Hardware & Lumber. This owner-user opportunity presents a compelling investment prospect for developers seeking a high-visibility site in a thriving community. The property address is 1503 N Park Ave, Alexandria, IN 46001.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1992
Total area
3,536 SF
Lot
1.14 ac (49,746 SF)
APN
48-06-18-200-046.000-022
UPID
US31-1029629
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
McDonald's Restaurant Take-out & Catering
-
Whetsel Funeral Service Social Service Agency
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Susan R Whetsel · 6 yrs held
Susan R Whetsel
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Alexandria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alexandria submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$29,283
Tax year 2023
Assessed value
$875,100
Assessed 2023
Previous assessed
$875,100
+0.0% YoY
Effective rate
3.35%
On assessed value
Assessed land
$171,300
Assessed improvement
$703,800
Land market value
$171,300
Improvement market value
$703,800
Total market value
$875,100
Applied tax rate
17.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1992
Heating
NONE
Stories
1
Total area
3,536 SF
Lot
1.14 ac (49,746 SF)
APN
48-06-18-200-046.000-022
UPID
US31-1029629
Jurisdiction
MADISON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Stories
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Susan R Whetsel
Individual
Mailing address
PO BOX 182571, COLUMBUS, OH 43218-2571
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2019
—
Susan R Whetsel
Larry A Hueston
Warranty Deed
$165,000 · First Financial Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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