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    Property profile & analytics

    1807 Broadway St Greensburg, IN 47240

    • Outlet malls
    • 89,912 SF
    • 9.29 lot acres
    For Lease
    View listing
    Last Sale
    Mar 03, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1613778
    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

    • Outlet malls

    Property Details for 1807 Broadway St

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    9.29 lot acres
    Property size
    89,912 SF
    Property type
    Outlet malls
    APN
    16-06-35-420-003.000-016
    APU
    160635420003000016

    Description

    This Greensburg, Indiana retail center, located at 1807 N Broadway St, 47240, offers a unique investment opportunity. The property, totaling 14,863 square feet, sits on 0.6 to 1 acre of land and is currently 100% vacant. The flexible space allows for multiple configurations, with a minimum divisible unit of 1,200 square feet and a maximum contiguous space of 9,545 square feet. The property's strategic location on State Route 3, just half a mile from Interstate 74, ensures high visibility and accessibility. The surrounding area boasts a strong retail presence, including established businesses such as Rural King, Culver's, Wendy's, Walmart, ALDI, and Tractor Supply Co. Furthermore, the property benefits from a robust local economy, with Honda Manufacturing, employing over 3,000 people, situated only 5 miles away. The average household income within a 10-mile radius is $66,000, indicating a strong consumer base. This property presents a compelling opportunity for businesses seeking high-traffic exposure in a thriving community. The property is zoned for retail, restaurant, and land use. The Decatur County location provides access to a significant population base. The available space is highly adaptable to various retail concepts, offering up to 13,663 square feet of combinable contiguous space. This includes options for 9,545 square feet and 4,118 square feet.

    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
    Greensburg
    County
    Decatur
    State
    Indiana
    Longitude
    -85.486
    Latitude
    39.3549
    CBSA code
    24700
    CBSA name
    GREENSBURG, IN MICROPOLITAN 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
    $45,649
    $997,000
    $879,000
    $1,876,000
    -
    $997,000
    $879,000
    $1,876,000

    Comparable in this City

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      $10,010,000
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      790 Greensburg Cmns Shopping Ctr

      WHOLESALE OUTLET, DISCOUNT STORE • 181,796 SF
      790 Greensburg Cmns Shopping Ctr, Greensburg, IN 47240-9469
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      1929 Greensburg Xing

      WHOLESALE OUTLET, DISCOUNT STORE • 81,390 SF
      1929 Greensburg Xing, Greensburg, IN 47240-8588
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    • Value Estimation
      $615,000
      80,180 SF

      790 Greensburg Cmns Shopping Ctr

      SHOPPING CENTER, STRIP CENTER • 80,180 SF
      790 Greensburg Cmns Shopping Ctr, Greensburg, IN 47240-9469
      View Details
    • Value Estimation by Request
      8,640 SF

      420 Us Hwy 421

      SHOPPING CENTER, STRIP CENTER • 8,640 SF
      420 Us Hwy 421, Greensburg, IN 47240
      View Details
    • Value Estimation by Request
      13,317 SF

      Freeland Rd

      SHOPPING CENTER, STRIP CENTER • 13,317 SF
      Freeland Rd, Greensburg, IN 47240
      View Details

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      14,863 SF

      Greensburg Retail Center Opportunity

      High-traffic retail center, prime location.
      1807 Broadway St, Greensburg, IN 47240
      View Details
    • Contact for pricing
      9,545 SF

      Retail Space Near Rural King

      Retail space available near major retailers and Honda Manufacturing.
      1809 N Broadway St, Greensburg, IN 47240
      View Details
    • Contact for pricing
      4,960 SF

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      Retail space available for lease in Greensburg, Indiana.
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      View Details
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    Greensburg, IN 47240
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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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