Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2223 Nichol Ave Anderson, IN 46016-3066
    Property profile & analytics

    2223 Nichol Ave, Anderson, IN 46016-3066

    View on Map
    • Specialty properties
    • 9,582 SF
    • 0.14 lot acres
    Off-Market
    Last Sale Jun 29, 2021
    Property ID
    US31-0566611
    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

    • Gholar & Gholar Funeral Services / Social Service Agency

    Property Details for 2223 Nichol Ave

    Year built
    1930
    Construction
    WOOD
    Lot size
    0.14 lot acres
    Property type
    Specialty properties
    APN
    48-11-14-202-104.000-003
    APU
    481114202104000003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 10, 2025 — Krystal Trading LLC New Ikigai LLC Warranty Deed —
    Oct 28, 2024 $6,667 New Ikigai LLC Madison County Clerk Deed · related —
    Oct 28, 2024 — New Ikigai LLC New Ikigai LLC Deed · related —
    Jun 29, 2021 $45,000 Willie Gholar JR Windgate Properties LLC Quit Claim Deed · related —
    Aug 15, 2012 $2,149 Windgate Properties LLC James Chalfant Public Action · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Madison
    State
    Indiana
    Longitude
    -85.7082
    Latitude
    40.1021
    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
    $4,001
    $7,300
    $116,300
    $123,600
    -
    $7,300
    $116,300
    $123,600

    Comparable in this City

    • Value Estimation by Request
      0.34 Acres

      Main St

      CHARITABLE ORGANIZATION
      Main St, Anderson, IN 46016
      View Details
    • Value Estimation by Request
      0.02 Acres

      Main

      CHARITABLE ORGANIZATION
      Main, Anderson, IN 46016
      View Details
    • Value Estimation by Request
      0.05 Acres

      625 Main St

      CHARITABLE ORGANIZATION
      625 Main St, Anderson, IN 46016-1513
      View Details
    • Value Estimation by Request
      0.09 Acres

      603 Main St

      CHARITABLE ORGANIZATION
      603 Main St, Anderson, IN 46016-1513
      View Details
    • Value Estimation by Request
      0.17 Acres

      600 Main St

      CHARITABLE ORGANIZATION
      600 Main St, Anderson, IN 46016-1543
      View Details
    • Value Estimation by Request
      0.20 Acres

      Main St

      CHARITABLE ORGANIZATION
      Main St, Anderson, IN 46016
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,919 SF

      Signalized Intersection NNN Opportunity

      New 20-year NNN ground lease at signalized intersection.
      2512 S Scatterfield Rd, Anderson, IN 46016
      View Details
    • $165,000
      2,100 SF

      Mixed-Use Building on Madison Avenue

      2,100 SF mixed-use building on a high-traffic corridor.
      1113 Madison Ave, Anderson, IN 46016
      View Details
    • $174,900
      0.14 Acres

      Updated Duplex with Workshop

      Updated duplex with large outbuilding, ideal for mechanics.
      1507 W 7Th St, Anderson, IN 46016
      View Details
    • $390,000
      0.15 Acres

      Updated Quadruplex in Anderson, IN

      Well-maintained four-unit property with updated interiors and strong rental potential.
      319 W 10Th St, Anderson, IN 46016
      View Details
    • Contact for pricing
      Pending

      Residential Lots in Anderson, IN

      Residential corner lot with four parcels totaling 0.21 acres.
      1902 Main Street Rd, Anderson, IN 46016
      View Details
    • New
      $189,900
      3,441 SF

      Retail Storefront Package Opportunity

      B1 zoned storefronts on Main Street with recent roof and electrical updates for flexible retail use.
      1213 Main Street Rd, Anderson, IN 46016
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      36,369 SF

      Versatile Mixed-Use Building For Lease

      Renovated building suitable for warehouse, office, or multiple tenant uses.
      1017 W 19Th St, Anderson, IN 46016
      View Details
    • $10 SF/Yr
      3,250 SF

      Versatile Commercial Space on Nichol

      Adaptable commercial space ideal for retail, automotive, or service businesses.
      925 Nichol Ave, Anderson, IN 46016
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space in Anderson Center

      Retail and restaurant spaces available in Anderson, Indiana.
      2210 S Scatterfield Rd, Anderson, IN 46016
      View Details
    • Contact for pricing
      37,509 SF

      Retail Center in Anderson, Indiana

      335,000-SF retail center anchored by national tenants.
      1604-2210 S Scatterfield Rd, Anderson, IN 46016
      View Details
    • Contact for pricing
      4,764 SF

      Office Space in Anderson, Indiana

      Office space available for lease in Anderson, Indiana.
      2020 Meridian St, Anderson, IN 46016
      View Details
    • Contact for pricing
      3,456 SF

      Retail Space in Anderson Center

      Retail opportunity in a 335,000-SF power center.
      2040 S Scatterfield Rd, Anderson, IN 46016
      View Details
    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.
    2223 Nichol Ave
    Anderson, IN 46016-3066
    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
    2223 Nichol Ave, Anderson, IN, 46016
    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!