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    Property profile & analytics

    1520 Main St Lapel, IN 46051-9686

    • Office Properties & Spaces
    • 473 SF
    • 1.83 lot acres
    OFF-MARKET
    Value Estimation
    $3,120,000
    Last Sale
    Sep 02, 2021
    $3,500,000
    Location Intelligence
    Property ID
    US31-0504564
    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

    • Meadow View Apartments / Apartment Building
    • MeadowView Apartments / Apartment Complex

    Property Details for 1520 Main St

    Year built
    1984
    Construction
    WOOD
    Lot size
    1.83 lot acres
    Property size
    473 SF
    Property type
    Office Properties & Spaces
    APN
    48-10-28-101-004.000-032
    APU
    481028101004000032

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,700,000

    • CAP approach

      CAP return
      Estimation
      6%
      $3,590,000
      6.5%
      $3,670,000
      7%
      $3,555,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $4,080,000
      Geo Method
      $3,565,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,995,000
      Retail
      $2,975,000
      Mixed-Use
      $3,205,000
      Hospitality
      $3,615,000
      Educational
      $3,705,000
      Residential Income
      $3,770,000
      Energy
      $3,375,000
      Income-Based Land
      $3,055,000
      Food Service
      $2,950,000

    Location Insight

    • Map
    • Local Demand
    City
    Lapel
    County
    Madison
    State
    Indiana
    Longitude
    -85.8482
    Latitude
    40.0743
    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
    $16,000
    $53,300
    $746,700
    $800,000
    -
    $53,300
    $746,700
    $800,000

    Comparable in this City

    • Value Estimation by Request
      1,672 SF

      720 Frd St

      OFFICE (GENERAL) • 1,672 SF
      720 Frd St, Lapel, IN 46051-5563
      View Details
    • Value Estimation by Request
      384 SF

      705 Main St

      OFFICE (GENERAL) • 384 SF
      705 Main St, Lapel, IN 46051-5543
      View Details
    • Value Estimation
      $320,000
      6,576 SF

      801 Main St

      OFFICE (GENERAL) • 6,576 SF
      801 Main St, Lapel, IN 46051-9609
      View Details
    • Value Estimation by Request
      7,576 SF

      3308 State Rd 13

      OFFICE (GENERAL) • 7,576 SF
      3308 State Rd 13, Lapel, IN 46051-9737
      View Details
    • Value Estimation by Request
      2,232 SF

      825 Main St

      OFFICE (GENERAL) • 2,232 SF
      825 Main St, Lapel, IN 46051-9609
      View Details
    • Value Estimation by Request
      1,300 SF

      13 Sr

      OFFICE (GENERAL) • 1,300 SF
      13 Sr, Lapel, IN 46051
      View Details

    Similar Nearby for Sale

    • $149,900

      Lapel Duplex with Large Lot

      Two-unit duplex in Lapel, Indiana, with potential for updates.
      320 E 7Th St, Lapel, IN 46051
      View Details
    • $11,497,660
      148.88 Acres

      148 Acres Development Opportunity, Lapel

      Prime land parcel in Madison County with development potential.
      13 & 38 In Hwy, Lapel, IN 46051
      View Details
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    Lapel, IN 46051-9686
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    Realmo Value Estimation

    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.

    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.

    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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