Individually Owned Property summary
AI-generated overview
This single-story, 5,183 square foot building, constructed in 2004, offers 1,420 square feet of immediately available space in a vibrant retail area. Located at 2179 N Morton St, Franklin, IN 46131, the property sits on 0.633 acres and is zoned C-1. The building enjoys high visibility from US 31 South and benefits from its location in a high-income area just 12 miles south of Indianapolis. Existing tenants include GameStop and Morton Family Dental, and the property is situated near major retailers such as Walmart, Lowe's, Meijer, Starbucks, Panera Bread, and Hobby Lobby, ensuring high traffic counts and strong consumer presence. The building features multiple tenancies and is ideal for medical or traditional office uses. The available space presents a unique opportunity to establish or expand a business in a thriving commercial environment. This property offers excellent accessibility and visibility, making it an attractive option for a variety of businesses.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Construction
TYPE NOT SPECIFIED
Total area
5,183 SF
Lot
0.63 ac (27,573 SF)
APN
41-08-10-014-002.009-009
UPID
US31-0664062
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$810k
Owner & transaction history
since 2023
Last sale
$7,500
2 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$810k
Value range
$729k – $891k
±10% around blend
Estimated value / SF
$156 / SF
Confidence
Property data
88
Market benchmarks
33
Comparable evidence
60
$729k
blend $810k
$891k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,183 SF
Lot area
0.63 ac
Year built
2001
Stories
1
APN
41-08-10-014-002.009-009
Assessed value
$553,600
Annual tax
$16,037
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.02M
Range $339k – $1.02M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$810k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 32 sales
$140
+12%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $156/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7k
Move the market yield to see immediate price impact.
Value / SF
$1
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$473
$9k
$7k
$5k
$525
$11k
$7k
$6k
$578
$12k
$8k
$6k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,037
Tax year 2023
Assessed value
$553,600
Assessed 2023
Previous assessed
$553,600
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$154,400
Assessed improvement
$399,200
Land market value
$154,400
Improvement market value
$399,200
Total market value
$553,600
Applied tax rate
9.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
5,183 SF
Lot
0.63 ac (27,573 SF)
APN
41-08-10-014-002.009-009
UPID
US31-0664062
Jurisdiction
JOHNSON
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.63 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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