Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    2040 Us Hwy 231 Spencer, IN 47460-6648

    • Office Properties & Spaces
    • 648 SF
    • 0.91 lot acres
    OFF-MARKET
    Value Estimation
    $210,000
    Location Intelligence
    Property ID
    US31-2267527
    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

    • Office Properties & Spaces

    Property Details for 2040 Us Hwy 231

    Year built
    1980
    Construction
    WOOD
    Lot size
    0.91 lot acres
    Property size
    648 SF
    Property type
    Office Properties & Spaces
    APN
    60-10-09-100-110.000-027
    APU
    601009100110000027

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Owen
    State
    Indiana
    Longitude
    -86.7459
    Latitude
    39.3198
    CBSA code
    14020
    CBSA name
    BLOOMINGTON, 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
    $1,922
    $66,500
    $59,200
    $125,700
    -
    $66,500
    $59,200
    $125,700

    Comparable in this City

    • Value Estimation by Request
      1,280 SF

      505 Coonpath Rd

      OFFICE (GENERAL) • 1,280 SF
      505 Coonpath Rd, Spencer, IN 47460
      View Details
    • Value Estimation by Request
      33,730 SF

      201 Morgan St

      OFFICE (GENERAL) • 33,730 SF
      201 Morgan St, Spencer, IN 47460-1217
      View Details
    • Value Estimation by Request
      1,056 SF

      781 Morgan St

      OFFICE (GENERAL) • 1,056 SF
      781 Morgan St, Spencer, IN 47460-1547
      View Details
    • Value Estimation by Request
      1,527 SF

      10 Fletcher Ave

      OFFICE (GENERAL) • 1,527 SF
      10 Fletcher Ave, Spencer, IN 47460-1520
      View Details
    • Value Estimation by Request
      15,920 SF

      333 State Hwy 46

      OFFICE (GENERAL) • 15,920 SF
      333 State Hwy 46, Spencer, IN 47460-6445
      View Details
    • Value Estimation
      $330,000
      3,456 SF

      405 St

      OFFICE (GENERAL) • 3,456 SF
      405 St, Spencer, IN 47460
      View Details

    Similar Nearby for Sale

    • $449,000
      0.13 Acres

      Charming Office Space in Spencer

      Office space with charm, hardwood floors, and exposed brick.
      23 S Main St, Spencer, IN 47460
      View Details
    • $279,900
      0.18 Acres

      Spencer Warehouse with Showroom Space

      Warehouse with showroom, loading dock, and recent upgrades in Spencer.
      56 E Jefferson St, Spencer, IN 47460
      View Details
    • Contact for pricing
      1.35 Acres

      Residential Land with Lake Access

      Wooded 1.35-acre lot with utilities and lake access.
      00 Lakeside Dr, Spencer, IN 47460
      View Details
    • $550,000
      2.86 Acres

      Commercial Land in Spencer, Indiana

      2.861-acre commercial land available in Spencer, Indiana.
      46 W Hwy, Spencer, IN 47460
      View Details
    • $680,000
      6,996 SF

      Multifamily Investment Opportunity in Spencer

      Two fiveplex buildings near downtown Spencer, Indiana, with strong rental income.
      80 W Jefferson St, Spencer, IN 47460
      View Details
    • New
      $87,500
      5.00 Acres

      5-Acre Wooded Residential Land

      5-acre wooded parcel ready for a custom home.
      6 Hudson Hill Rd, Gosport, IN 47460
      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.
    2040 Us Hwy 231
    Spencer, IN 47460-6648
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    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.