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

    1855 Gardner NW Ln Corydon, IN 47112-2032

    • Office Properties & Spaces
    • 5,400 SF
    • 2.63 lot acres
    OFF-MARKET
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1504669
    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

    • US Consolidated Farm Services Agency / Conservation Department
    • US Agricultural Department / Government Office
    • Natural Resources Conservation / Conservation Department
    • Harrison County Soil & Water / County Government Office

    Property Details for 1855 Gardner NW Ln

    Year built
    1976
    Construction
    WOOD
    Lot size
    2.63 lot acres
    Property size
    5,400 SF
    Property type
    Office Properties & Spaces
    APN
    31-09-25-126-012.000-007
    APU
    310925126012000007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $490,000
      Market price range: $215k - $632k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $400,000
      Current use
      RESTAURANT
      $445,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $415,000
      Change: +4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $355,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Corydon
    County
    Harrison
    State
    Indiana
    Longitude
    -86.1388
    Latitude
    38.2291
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-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
    $3,870
    $184,100
    $147,500
    $331,600
    -
    $184,100
    $147,500
    $331,600

    Comparable in this City

    • Value Estimation by Request

      Elm St

      Office Properties & Spaces
      Elm St, Corydon, IN 47112
      View Details
    • Value Estimation
      $230,000
      3,120 SF

      105 Big Indian NE Rd

      OFFICE (GENERAL) • 3,120 SF
      105 Big Indian NE Rd, Corydon, IN 47112-1667
      View Details
    • Value Estimation
      $225,000
      1,128 SF

      213 Mulberry St

      OFFICE (GENERAL) • 1,128 SF
      213 Mulberry St, Corydon, IN 47112-1213
      View Details
    • Value Estimation by Request
      3,344 SF

      117 Beaver St

      OFFICE (GENERAL) • 3,344 SF
      117 Beaver St, Corydon, IN 47112-1101
      View Details
    • Value Estimation by Request
      14,668 SF

      219 Capitol Ave

      OFFICE (GENERAL) • 14,668 SF
      219 Capitol Ave, Corydon, IN 47112-1142
      View Details
    • Value Estimation by Request
      97,103 SF

      506 Country Clb NE Rd

      OFFICE (GENERAL) • 97,103 SF
      506 Country Clb NE Rd, Corydon, IN 47112-1701
      View Details

    Similar Nearby for Sale

    • $275,000
      0.18 Acres

      Historic Corydon Office Building

      Prime Downtown Office Space, Six Offices
      113 Oak St, Corydon, IN 47112
      View Details
    • $129,900

      Downtown Corydon Office/Garage Space

      Prime Location, Endless Potential!
      207 Walnut St, Corydon, IN 47112
      View Details
    • Contact for pricing

      Downtown Corydon Office Space For Lease

      Renovated Office, High Traffic Location
      Elm St, Corydon, IN 47112
      View Details
    • $700,000
      0.10 Acres

      Downtown Corydon Office Building

      Prime Location, Historic Charm, High Visibility
      201-203 Capitol Ave, Corydon, IN 47112
      View Details
    • Contact for pricing

      Downtown Corydon Office Space For Lease

      Prime location, renovated office suites.
      119 Beaver St, Corydon, IN 47112
      View Details
    • $250,000
      5,100 SF

      Versatile Commercial Building in Corydon

      Spacious commercial building with apartment, ideal for various businesses.
      1350 Old Forest Rd NW, Corydon, IN 47112
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      5,000 SF

      Downtown Corydon Flex Space Available

      5,000 sq ft space suitable for office, spa, or flex.
      219 W High St, Corydon, IN 47112
      View Details
    • $4,800 /Mo
      106,722 SF

      Corydon, IN Retail Outlot

      2.45-acre retail land, multiple tenants
      2363 Old Highway 135, Corydon, IN 47112
      View Details
    • $6 SF/Yr
      13,200 SF

      Office/Warehouse Building with Dock Door

      13,200 SF office/warehouse with dock and drive-in doors.
      480 Valley Rd, Corydon, IN 47112
      View Details
    • Contact for pricing
      10,125 SF

      Retail Space in Corydon Center

      10,125 SF retail space in high-traffic shopping center.
      389 Old Capital Plz NW, Corydon, IN 47112
      View Details
    • Contact for pricing
      2,864 SF

      Corydon, IN Retail Space Available

      Prime Retail Space, I-64 Corridor, High Traffic
      2421 Landmark Ave, Corydon, IN 47112
      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.
    1855 Gardner NW Ln
    Corydon, IN 47112-2032
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.