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    Property profile & analytics

    2116 Spg St New Albany, IN 47150

    • Turn key restaurants
    • 2,452 SF
    • 0.51 lot acres
    OFF-MARKET
    Value Estimation
    $345,000
    Last Sale
    Mar 03, 2021
    Location Intelligence
    Property ID
    US31-1846517
    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

    • El BRACERO steak house mexican restaurant / Restaurant

    Property Details for 2116 Spg St

    Year built
    1971
    Lot size
    0.51 lot acres
    Property size
    2,452 SF
    Property type
    Turn key restaurants
    APN
    22-05-02-900-898.000-008
    APU
    220502900898000008

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.7988
    Latitude
    38.2968
    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
    $5,417
    $87,600
    $99,300
    $186,900
    -
    $87,600
    $99,300
    $186,900

    Comparable in this City

    • Value Estimation
      $375,000
      14,472 SF

      426 Pearl St

      RESTAURANT • 14,472 SF
      426 Pearl St, New Albany, IN 47150-3420
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    • Value Estimation
      $425,000
      1,630 SF

      325 Spg St

      RESTAURANT • 1,630 SF
      325 Spg St, New Albany, IN 47150-3614
      View Details
    • Value Estimation
      $345,000
      0.86 Acres

      2119 State St

      RESTAURANT • 0.86 Acres
      2119 State St, New Albany, IN 47150-4922
      View Details
    • Value Estimation
      $320,000
      2,006 SF

      155 Main St

      RESTAURANT • 2,006 SF
      155 Main St, New Albany, IN 47150-5856
      View Details
    • Value Estimation
      $390,000
      17,328 SF

      201 Market St

      RESTAURANT • 17,328 SF
      201 Market St, New Albany, IN 47150
      View Details
    • Value Estimation
      $1,100,000
      0.40 Acres

      2350 State St

      RESTAURANT • 0.40 Acres
      2350 State St, New Albany, IN 47150-4927
      View Details

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    2116 Spg St
    New Albany, IN 47150
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    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
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