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    208 N Miami St Peru, IN 46970
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    Property profile & analytics

    208 N Miami St, Peru, IN 46970

    View on Map
    • Warehouses
    • 58,604 SF
    • 2.23 lot acres
    For Sale
    $50,000
    View Listing →
    Vacant Warehouse and Processing Facility For Sale
    $50,000
    48,744 SF

    Vacant Warehouse and Processing Facility

    48,744 SF vacant facility on 2.23 acres in Peru, IN.

    208 N Miami St, Peru, IN 46970
    View Listing
    Property ID
    US31-0089022
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 208 N Miami St

    Year built
    1930
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.23 lot acres
    Property type
    Warehouses
    APN
    52-08-28-401-011.000-016
    APU
    520828401011000016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,071,000
      Market price range: $1.07M - $4.85M

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

    Location Insight

    • Map
    • Local Demand
    City
    Peru
    County
    Miami
    State
    Indiana
    Longitude
    -86.0742
    Latitude
    40.7564
    CBSA code
    37940
    CBSA name
    PERU, 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
    $18,382
    $43,400
    $341,600
    $385,000
    -
    $43,400
    $341,600
    $385,000

    Comparable in this City

    • Value Estimation by Request
      5,148 SF

      3311 State Rd 19

      WAREHOUSE, STORAGE
      3311 State Rd 19, Peru, IN 46970-7476
      View Details
    • Value Estimation by Request
      1,200 SF

      259 Armstrong Ave

      MINI-WAREHOUSE, STORAGE
      259 Armstrong Ave, Peru, IN 46970-2723
      View Details
    • Value Estimation by Request
      4,000 SF

      1995 Hoosier Blvd

      WAREHOUSE, STORAGE
      1995 Hoosier Blvd, Peru, IN 46970-3718
      View Details
    • Value Estimation by Request
      7,000 SF

      52 Park Ave

      WAREHOUSE, STORAGE
      52 Park Ave, Peru, IN 46970-1715
      View Details
    • Value Estimation
      $1,345,000
      30,973 SF

      100 Park Ave

      WAREHOUSE, STORAGE
      100 Park Ave, Peru, IN 46970-1702
      View Details
    • Value Estimation
      $935,000
      56,432 SF

      3311 State Rd 19

      WAREHOUSE, STORAGE
      3311 State Rd 19, Peru, IN 46970-7476
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      48,744 SF

      Vacant Warehouse and Processing Facility

      48,744 SF vacant facility on 2.23 acres in Peru, IN.
      208 N Miami St, Peru, IN 46970
      View Details
    • Contact for pricing
      60,600 SF

      60,600 SF Industrial Facility

      60,600 SF industrial facility on 5.67 acres for sale.
      1040-1050 Industrial Pkwy, Peru, IN 46970
      View Details
    • Contact for pricing
      13,592 SF

      Manufacturing and Office Buildings

      Two connected buildings suitable for manufacturing and office use.
      179 N Miami St, Peru, IN 46970
      View Details
    • $595,000
      0.42 Acres

      Prime Peru Commercial Property

      Main Street Corner Lot, High Visibility
      291 Main St, Peru, IN 46970
      View Details
    • $5,750,000
      14,480 SF

      Premier Agri-Tourism Destination

      90+ acre orchard and winery near Indianapolis.
      5054 N Us Route 31, Peru, IN 46970
      View Details
    • $109,000
      3,400 SF

      Spacious Duplex with Detached Garage

      Large duplex with 6 bedrooms, 4 bathrooms, and detached garage.
      62 East 2Nd St, Peru, IN 46970
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      100,677 SF

      North Broadway Retail Center

      Peru, IN: Prime Retail Space Available
      760 Broadway St, Peru, IN 46970
      View Details
    • $3,500 /Mo
      2,766 SF

      Versatile Commercial Property on Corner Lot

      Multi-unit commercial property with income potential in a desirable location.
      400 N Broadway St, Peru, IN 46970
      View Details
    • Contact for pricing

      Commercial Land for Lease

      0.629 acre commercial land available for ground lease.
      912 W Main St, Peru, IN 46970
      View Details
    • Contact for pricing
      2,350 SF

      Medical/Office Space Near Downtown Peru

      Single-tenant medical/office property in the heart of Peru.
      1 Logan St, Peru, IN 46970
      View Details
    View Listing
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    Peru, IN 46970
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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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