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    1704 East 60Th St Anderson, IN 46013

    • Theaters & concert halls
    • 28,949 SF
    • 1.85 lot acres
    For Lease
    View listing
    Value Estimations
    $575,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0713219
    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

    • Stillwell Manor Haunted Attraction / Haunted House / Amusement Park

    Property Details for 1704 East 60Th St

    Year built
    1989
    Construction
    WOOD
    Lot size
    1.85 lot acres
    Property size
    28,949 SF
    Property type
    Theaters & concert halls
    APN
    48-12-31-100-092.000-003
    APU
    481231100092000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $690,000
      Market price range: $690k - $1.57M

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

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Madison
    State
    Indiana
    Longitude
    -85.658
    Latitude
    40.055
    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
    $9,711
    $92,400
    $576,500
    $668,900
    -
    $92,400
    $576,500
    $668,900

    Comparable in this City

    • Value Estimation by Request
      8,890 SF

      4100 Main St

      THEATER (MOVIE) • 8,890 SF
      4100 Main St, Anderson, IN 46013-4724
      View Details
    • Value Estimation by Request
      7,800 SF

      793 600th S

      THEATER (MOVIE) • 7,800 SF
      793 600th S, Anderson, IN 46013-9504
      View Details
    • Value Estimation by Request
      1.89 Acres

      1704 60th St

      THEATER (MOVIE) • 1.89 Acres
      1704 60th St, Anderson, IN 46013-3042
      View Details
    • Value Estimation by Request
      10,448 SF

      611 53rd St

      THEATER (MOVIE) • 10,448 SF
      611 53rd St, Anderson, IN 46013-1726
      View Details
    • Value Estimation by Request
      800 SF

      3308 Columbus Ave

      THEATER (MOVIE) • 800 SF
      3308 Columbus Ave, Anderson, IN 46013
      View Details
    • Value Estimation
      $1,510,000
      43,132 SF

      6607 Providence Dr

      THEATER (MOVIE) • 43,132 SF
      6607 Providence Dr, Anderson, IN 46013-5626
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.00 Acres

      Anderson Commercial Land - 123 Acres

      Prime Anderson, IN commercial land, ideal for development.
      6627 Columbus Ave, Anderson, IN 46013
      View Details
    • $45,000
      0.31 Acres

      Residential Lots in Quiet Area

      Two residential lots in a quiet area with city utilities.
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    • $899,900
      8,800 SF

      Anderson Retail & Warehouse Portfolio

      High-traffic retail space, warehouse, & home
      1415 53Rd St, Anderson, IN 46013
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    • $925,000
      1.16 Acres

      Commercial Land in Anderson, Indiana

      1.16 acre commercial parcel at Dr. MLK Blvd and 53rd.
      5330 Dr Martin Luther King Jr Blvd, Anderson, IN 46013
      View Details
    • $4,000,000
      71.32 Acres

      71.32 Acres Prime Development Land

      71.32 acres of prime land in Anderson, Indiana.
      100 S 100 E, Anderson, IN 46013
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    • $409,000
      1,756 SF

      Commercial Property on High-Traffic Corner

      Commercial property on 1.07 acres at a busy intersection.
      1601 E 53Rd St, Anderson, IN 46013
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    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Anderson Retail & Land Opportunity

      High-traffic retail lots, I-69 exposure
      0 Enterprise Park, Anderson, IN 46013
      View Details
    • $1,575 /Mo
      6,000 SF

      Endcap Unit Near Interstate 69

      Endcap unit in high-traffic area near I-69 in Anderson, IN.
      5330 Doctor M.l.k. Jr Blvd, Anderson, IN 46013
      View Details
    • $975 /Mo

      Office Space For Lease

      Office space for lease with utilities included near 53rd.
      5213 Columbus Ave, Anderson, IN 46013
      View Details
    • $13 SF/Yr
      32,586 SF

      Flexible Office Space Available

      15,070 SF office space for lease in Anderson, IN.
      2903 Enterprise Dr, Anderson, IN 46013
      View Details
    • Contact for pricing
      15,000 SF

      Retail Space on Scatterfield Road

      Retail spaces available near Walmart Supercenter and other retailers.
      4544 S Scatterfield Rd, Anderson, IN 46013
      View Details
    • Contact for pricing
      21,880 SF

      Flagship Office Park - Madison County

      Prime Madison County office space, ample parking.
      7311 Quality Cir, Anderson, IN 46013
      View Details
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    1704 East 60Th St
    Anderson, IN 46013
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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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