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    Property profile & analytics

    20 Main St Danville, IN 46122

    • Parking lots & garages
    • 0.11 lot acres
    For Sale
    View listing
    $775,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0585093
    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

    • Active life store / Wheel Store
    • Active Shop / Coffee Store
    • Western Active Steap Shop / Coffee Store
    • Active Steap Shop Tools / Fabric Store
    • Expansion Active Steap Shop / Fabric Store

    Property Details for 20 Main St

    Year built
    2001
    Lot size
    0.11 lot acres
    Property type
    Parking lots & garages
    APN
    32-11-04-490-009.000-003
    APU
    321104490009000003

    Description

    This exceptional commercial property, located at 20 West Main Street in Danville, Indiana, offers a substantial 6,312 square feet of versatile space. Situated on a 0.04-acre lot, the building boasts a convenient attached parking lot, providing ample space for clients and employees. The property's prime location on West Main Street ensures high visibility and accessibility, making it ideal for a variety of businesses. The building's substantial size allows for flexible configurations to suit diverse operational needs. Whether you envision a retail space, office complex, or a combination thereof, this property presents a unique opportunity to establish or expand your business in a thriving community. The asking price of $775,000 reflects the significant value and potential this property offers. Its strategic location and ample space make it an attractive investment for discerning buyers seeking a strong foothold in the Danville market. The attached parking lot is a significant advantage, eliminating the need for off-site parking arrangements and enhancing the overall convenience of the property. Serious inquiries are encouraged to explore the possibilities this exceptional commercial building presents. The property is ready for immediate occupancy, allowing for a swift transition and commencement of operations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.5244
    Latitude
    39.761
    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
    $1,647
    $72,100
    $2,600
    $74,700
    -
    $72,100
    $2,600
    $74,700

    Comparable in this City

    • Value Estimation
      $240,000
      0.14 Acres

      Danville, IN 46122

      PARKING LOT • 0.14 Acres
      Danville, IN 46122
      View Details
    • Value Estimation
      $245,000
      0.38 Acres

      Danville, IN 46122

      PARKING LOT • 0.38 Acres
      Danville, IN 46122
      View Details
    • Value Estimation
      $240,000
      0.20 Acres

      6319 Us Hwy 36

      PARKING LOT • 0.20 Acres
      6319 Us Hwy 36, Danville, IN 46122
      View Details
    • Value Estimation
      $245,000
      1,522 SF

      247 Main St

      PARKING LOT • 1,522 SF
      247 Main St, Danville, IN 46122-1821
      View Details
    • Value Estimation
      $365,000
      3,780 SF

      2655 Main St

      PARKING GARAGE, PARKING STRUCTURE • 3,780 SF
      2655 Main St, Danville, IN 46122-8468
      View Details
    • Value Estimation
      $310,000
      0.16 Acres

      102 Indiana St

      PARKING LOT • 0.16 Acres
      102 Indiana St, Danville, IN 46122-1810
      View Details

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    • Contact for pricing
      0.36 Acres

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    20 Main St
    Danville, IN 46122
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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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