Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2150 N Morton St Franklin, IN 46131
    Back to Search
    Property profile & analytics

    2150 N Morton St, Franklin, IN 46131

    View on Map
    • Office Spaces
    • 10,184 SF
    • 2.62 lot acres
    For Lease
    $1,390,000
    View Listing →
    Retail Development in Franklin, Indiana For Lease
    $1,390,000
    2,115 SF

    Retail Development in Franklin, Indiana

    Retail spaces and outlot available for lease in Franklin, IN.

    2150 N Morton St, Franklin, IN 46131
    View Listing
    Property ID
    US31-2940703
    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

    • Office Spaces

    Property Details for 2150 N Morton St

    Year built
    2022
    Construction
    WOOD
    Lot size
    2.62 lot acres
    Property type
    Office Spaces
    APN
    41-08-10-013-121.000-009
    APU
    410810013121000009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 14, 2022 — Bdh Realty LLC — Deed · related $3.9M · Jp Morgan Chase Bank
    Aug 29, 2019 — Bdh Realty LLC Roger A Young Warranty Deed $1.5M · Jp Morgan Chase Bank

    Description

    Hubler Marketplace presents a unique retail investment opportunity in the thriving Franklin, Indiana market. This new retail development offers immediate visibility and accessibility, boasting a prime location fronting US Highway 31. Currently under construction, the development features one available space totaling 1,600 square feet, ideal for a variety of retail uses. Furthermore, a 0.92-acre outlot is available on Simon Road, providing an exceptional opportunity for additional development or expansion. The property benefits from its strategic placement adjacent to a new 195,000 square foot Meijer store, and across the street from a Walmart Supercenter and Lowe's, ensuring high foot traffic and brand recognition. Panera Bread and Noodles & Company are also slated to join this burgeoning commercial center. A frontage road is planned for construction, providing convenient access to the Hubler Marketplace from Hubler Ford. This heavily trafficked commercial corridor sees nearly 30,000 vehicles per day, offering unparalleled exposure for businesses seeking a strong presence in this rapidly growing area. The total land area encompasses 2.3 acres, providing ample space for current and future development. This is an exceptional chance to establish a business in a high-demand location with significant growth potential. The available space is part of a larger development, ensuring a vibrant and successful commercial environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,755,000
      6.5%
      $1,620,000
      7%
      $1,505,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,400,000
      Market price range: $572k - $1.40M
      AI Estimate
      $1,140,000
      Market price range: $335k - $1.14M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $960,000
      Current use
      RETAIL STORES
      $1,425,000
      Change: +49% Conversion: Easy
      WAREHOUSE, STORAGE
      $950,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Johnson
    State
    Indiana
    Longitude
    -86.0699
    Latitude
    39.5035
    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
    $44,925
    $533,100
    $1,017,700
    $1,550,800
    -
    $533,100
    $1,017,700
    $1,550,800

    Comparable in this City

    • Value Estimation by Request
      728 SF

      4171 In-135

      Office Units
      4171 In-135, Franklin, IN 46131
      View Details
    • Value Estimation by Request
      3,393 SF

      Lynhurst St

      OFFICE (GENERAL)
      Lynhurst St, Franklin, IN 46131
      View Details
    • Value Estimation by Request
      2,108 SF

      200 Madison St

      OFFICE (GENERAL)
      200 Madison St, Franklin, IN 46131-2332
      View Details
    • Value Estimation by Request
      2,986 SF

      2102 Heather Gln Way

      OFFICE (GENERAL)
      2102 Heather Gln Way, Franklin, IN 46131-3622
      View Details
    • Value Estimation
      $1,055,000
      9,269 SF

      701 Madison St

      OFFICE (GENERAL)
      701 Madison St, Franklin, IN 46131-2148
      View Details
    • Value Estimation
      $850,000
      5,984 SF

      189 Umbarger Ln

      OFFICE (GENERAL)
      189 Umbarger Ln, Franklin, IN 46131
      View Details

    Similar Nearby for Sale

    • $699,000
      2,730 SF

      Prime Franklin Office Building

      I-65 Frontage, High Visibility, Lease in Place
      2134 Holiday Ln, Franklin, IN 46131
      View Details
    • Contact for pricing

      Versatile Office Building in Franklin

      Adaptable office space in a growing Franklin market.
      130 Fairway Lake Dr, Franklin, IN 46131
      View Details
    • $900,000
      5,200 SF

      Franklin Warehouse with Office Space

      5,200 SF industrial space with office on 1.89 acres.
      695 Industrial Dr, Franklin, IN 46131
      View Details
    • Contact for pricing

      Land For Sale Franklin

      Land available for sale in Franklin, Indiana.
      Paris Dr, Franklin, IN 46131
      View Details
    • New
      $299,000
      1,954 SF

      High-Visibility Commercial Property in Franklin

      3-acre commercially zoned property with redevelopment potential on US-31.
      3480 S Us Highway 31, Franklin, IN 46131
      View Details
    • Contact for pricing

      Industrial Flex Building with Outside Storage

      Flexible industrial space with outdoor storage, truck maneuvering areas, and on-site parking for multiple operating needs.
      159 Cincinnati St, Franklin, IN 46131
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Bargersville Commercial Opportunity

      Commercial space available for sale or lease in Bargersville, Indiana.
      I-69 & Sr 144, Bargersville, IN 46131
      View Details
    • Contact for pricing

      Medical Office Space Near Hospital

      Medical office spaces for lease near Johnson Memorial Hospital.
      1140 W Jefferson St, Franklin, IN 46131
      View Details
    • Contact for pricing
      3,485 SF

      Bargersville Medical Space For Rent

      Medical space in growing Johnson County community, near major routes.
      4907 Co Rd 300 W, Bargersville, IN 46131
      View Details
    • Contact for pricing

      Franklin Flex Space Opportunity

      Versatile 12,000 SF flex space in Franklin, Indiana.
      1408 Commerce Pkwy, Franklin, IN 46131
      View Details
    • New
      Contact for pricing
      2,710 SF

      Industrial Flex Suite with Drive-In

      Flex suite with dedicated office space and a 14-foot clear height warehouse bay for operational storage needs.
      171 Commerce Dr, Franklin, IN 46131
      View Details
    • Contact for pricing
      700,992 SF

      I-65 South Commerce Park

      Build-to-suit and speculative construction sites available for lease.
      500 N 500 E & SR 44, Franklin, IN 46131
      View Details
    View Listing
    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.
    2150 N Morton St
    Franklin, IN 46131
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2150 N Morton St, Franklin, IN, 46131
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!