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    Property profile & analytics

    215 Pearl St Covington, IN 47932-1061

    • Office Properties & Spaces
    • 1,014 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US31-1617123
    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

    • Warren Agency, Inc. / Real Estate Agent

    Property Details for 215 Pearl St

    Year built
    1930
    Construction
    WOOD
    Lot size
    0.10 lot acres
    Property size
    1,014 SF
    Property type
    Office Properties & Spaces
    APN
    23-06-26-426-181.001-016
    APU
    230626426181001016

    Description

    This versatile 1,014 square foot mixed-use building in Covington, Indiana, presents a fantastic investment opportunity. Located at 215 Pearl St, this property boasts a prime commercial location, situated on two city lots and conveniently positioned next to McDonald's and near Casey's gas station. The building, renovated in 2020, offers a flexible layout ideal for a variety of businesses. The interior features a spacious display/office desk area, perfect for showcasing products or providing ample workspace. A smaller conference room/office/breakroom provides a dedicated space for meetings or private work. Additional functional space includes a utility/storage area and a restroom. The building's 1,014 square feet of net rentable space offers ample room for operations, while its convenient location ensures high visibility and accessibility for customers and employees. This property is a blend of retail and office space, making it suitable for a wide range of commercial uses. The asking price is $249,000. This is a rare opportunity to acquire a well-maintained, strategically located commercial property in a thriving Indiana community. The property's proximity to established businesses further enhances its appeal and potential for success.

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Fountain
    State
    Indiana
    Longitude
    -87.3998
    Latitude
    40.1422

    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
    $973
    $14,300
    $29,100
    $43,400
    -
    $14,300
    $29,100
    $43,400

    Comparable in this City

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      216 4th St

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      216 4th St, Covington, IN 47932-1222
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      820 Railroad St

      OFFICE (GENERAL) • 1,425 SF
      820 Railroad St, Covington, IN 47932-1357
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      1329 2nd St

      OFFICE (GENERAL) • 3,480 SF
      1329 2nd St, Covington, IN 47932-1009
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    • Value Estimation
      $405,000
      9,000 SF

      1327 2nd St

      OFFICE (GENERAL) • 9,000 SF
      1327 2nd St, Covington, IN 47932-1009
      View Details
    • Value Estimation by Request
      4,460 SF

      1315 Pearl St

      OFFICE (GENERAL) • 4,460 SF
      1315 Pearl St, Covington, IN 47932-9761
      View Details

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    Covington, IN 47932-1061
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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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