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

    1903 New Paris Pike Richmond, IN 47374-2017

    • Auto shops
    • 810 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1572492
    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

    • Auto shops

    Property Details for 1903 New Paris Pike

    Year built
    1966
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.45 lot acres
    Property size
    810 SF
    Zone code
    ZO01
    Property type
    Auto shops
    APN
    89-16-33-210-102.000-030
    APU
    891633210102000030

    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
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.8761
    Latitude
    39.8434
    CBSA code
    39980
    CBSA name
    RICHMOND, 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
    2022
    $510
    $5,300
    $11,600
    $16,900
    -
    $5,300
    $11,600
    $16,900

    Comparable in this City

    • Value Estimation by Request
      592 SF

      1227 St

      AUTO REPAIR, GARAGE • 592 SF
      1227 St, Richmond, IN 47374-3250
      View Details
    • Value Estimation by Request
      3,437 SF

      5150 Whitewater Rd

      AUTO REPAIR, GARAGE • 3,437 SF
      5150 Whitewater Rd, Richmond, IN 47374-9223
      View Details
    • Value Estimation by Request
      2,357 SF

      1440 9th St

      AUTO REPAIR, GARAGE • 2,357 SF
      1440 9th St, Richmond, IN 47374-6918
      View Details
    • Value Estimation by Request
      2,852 SF

      2801 Nolandsfork Rd

      AUTO REPAIR, GARAGE • 2,852 SF
      2801 Nolandsfork Rd, Richmond, IN 47374-9738
      View Details
    • Value Estimation by Request
      1,980 SF

      1 18th St

      AUTO REPAIR, GARAGE • 1,980 SF
      1 18th St, Richmond, IN 47374-3973
      View Details
    • Value Estimation by Request
      1,392 SF

      800 5th St

      AUTO REPAIR, GARAGE • 1,392 SF
      800 5th St, Richmond, IN 47374-2243
      View Details

    Similar Nearby for Sale

    • $499,000
      2,859 SF

      High-Traffic Richmond Mixed-Use

      Prime corner location, 2,859 SF, 100% occupied.
      900 A St, Richmond, IN 47374
      View Details
    • $349,900
      0.27 Acres

      Versatile Building in Downtown Richmond

      Two-story building with offices, open area, and parking.
      36 S 9Th St, Richmond, IN 47374
      View Details
    • $450,000
      5,820 SF

      Prime Richmond Storefront

      5,820 SF Vacant Retail Space, I-70 Access
      406 Commerce Rd, Richmond, IN 47374
      View Details
    • $129,900
      2,112 SF

      Richmond Retail Center Investment

      Prime Retail/Office Space, High Visibility
      122 5Th St, Richmond, IN 47374
      View Details
    • $1,500,000
      67,275 SF

      Prime Richmond Mixed-Use Investment

      Iconic 67,275 SF building, high visibility.
      923 E St, Richmond, IN 47374
      View Details
    • $2,461,538
      5,000 SF

      Mattress Firm Investment Opportunity

      5,000 SF Mattress Firm with corporate-guaranteed lease in Richmond, IN.
      4404 National Rd E, Richmond, IN 47374
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      6,156 SF

      Downtown Richmond Office Space Available

      Versatile two-story building in downtown Richmond with parking.
      36 S 9Th St, Richmond, IN 47374
      View Details
    • $9 SF/Yr
      2,112 SF

      Richmond Office Space - High Visibility

      Prime West Side location; flexible office/retail space.
      122 5Th St, Richmond, IN 47374
      View Details
    • $6 SF/Yr
      5,820 SF

      Richmond Industrial Space - 5820 SF

      Versatile warehouse/office near I-70 & US 40.
      406 Commerce Rd, Richmond, IN 47374
      View Details
    • $35 SF/Yr
      2,534 SF

      Retail Space on National Road

      Retail space for lease near downtown Richmond and Earlham College.
      216 W National Rd, Richmond, IN 47374
      View Details
    • $30 SF/Yr
      1,658 SF

      Retail or Restaurant Space Available

      New retail or restaurant spaces for lease near Earlham College.
      515-535 W National Rd, Richmond, IN 47374
      View Details
    • $17 SF/Yr
      75,744 SF

      Richmond Walmart Plaza Retail Space

      High-traffic retail space near Walmart.
      3513 Main St, Richmond, IN 47374
      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.
    1903 New Paris Pike
    Richmond, IN 47374-2017
    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.