Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    227 Water St Borden, IN 47106
    Property profile & analytics

    227 Water St Borden, IN 47106

    View on Map
    • Warehouses
    • 2,500 SF
    • 0.40 lot acres
    For Sale
    $134,900
    View Listing →
    Commercial Building in Borden, Indiana For Sale
    $134,900
    2,500 SF

    Commercial Building in Borden, Indiana

    Remodeled commercial building with highway frontage and ample parking.

    227 Water Street, Borden, IN 47106
    View Listing
    Property ID
    US31-2241732
    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

    • Warehouses

    Property Details for 227 Water St

    Year built
    1955
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.40 lot acres
    Property size
    2,500 SF
    Property type
    Warehouses
    APN
    10-16-00-300-459.000-036
    APU
    101600300459000036

    Description

    This exceptional commercial property, located at 227 Water Street in Borden, Indiana, presents a unique investment opportunity. The building boasts a total of 2500 square feet situated on a half-acre lot, offering ample space and significant parking. A recent remodel in 2018 ensures modern functionality. The property includes a 700-square-foot office area, complete with a half-bath and ductless HVAC system, currently available for lease at $750 per month, potentially including a utility allowance. The remaining space provides versatile storage options. The building's design allows for easy divisibility, catering to a range of commercial uses including retail, office space, storage, or even light industrial/mechanical applications. Its convenient location offers excellent highway road frontage, ensuring high visibility and accessibility. Utilities are readily available through Borden Tri-County Water, Borden Sewer, and Duke Energy. The seller is open to leasing the entire building, providing flexibility for potential buyers or tenants. This property is ideal for entrepreneurs seeking a well-maintained space with significant potential in a scenic, thriving community. The combination of its size, location, and recent renovations makes this an attractive investment opportunity.

    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
    Borden
    County
    Clark
    State
    Indiana
    Longitude
    -85.9501
    Latitude
    38.4683
    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
    $1,354
    $16,500
    $51,100
    $67,600
    -
    $16,500
    $51,100
    $67,600

    Comparable in this City

    • Value Estimation by Request
      3,900 SF

      104 Brewer Dr

      MINI-WAREHOUSE, STORAGE • 3,900 SF
      104 Brewer Dr, Borden, IN 47106
      View Details
    • Value Estimation by Request
      7,800 SF

      104 Brewer Dr

      MINI-WAREHOUSE, STORAGE • 7,800 SF
      104 Brewer Dr, Borden, IN 47106
      View Details
    • Value Estimation by Request
      2,490 SF

      5769 Borden Rd

      MINI-WAREHOUSE, STORAGE • 2,490 SF
      5769 Borden Rd, Borden, IN 47106-7600
      View Details
    • Value Estimation by Request
      5,100 SF

      104 Brewer Dr

      MINI-WAREHOUSE, STORAGE • 5,100 SF
      104 Brewer Dr, Borden, IN 47106
      View Details
    • Value Estimation by Request
      2,880 SF

      15400 State Rd 60

      MINI-WAREHOUSE, STORAGE • 2,880 SF
      15400 State Rd 60, Borden, IN 47106-8536
      View Details
    • Value Estimation by Request
      3,900 SF

      Main St

      MINI-WAREHOUSE, STORAGE • 3,900 SF
      Main St, Borden, IN 47106
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Building in Borden's Scenic Valley

      Remodeled commercial building with office, storage, and highway frontage.
      227 Water St, Borden, IN 47106
      View Details
    • Contact for pricing

      Shop or Warehouse Space Available

      Shop or warehouse space for lease with gated parking.
      15400 State Road 60, Borden, IN 47106
      View Details
    • Contact for pricing

      Commercial Building in Borden, Indiana

      Remodeled commercial building with highway frontage and ample parking.
      227 Water St, Borden, IN 47106
      View Details
    • $199,900

      9.42 Acres on Highway 60

      9.42 acres with road frontage, potential for commercial development.
      1562 Hwy 60, Borden, IN 47106
      View Details
    • $75,000

      Commercial Building on Hwy 60

      Commercial building with potential for various business uses.
      1568 W Water St, Borden, IN 47106
      View Details
    • Contact for pricing

      Starlight Acreage with Redevelopment Potential

      14 acres in Starlight suitable for various commercial uses.
      10924 Saint Johns Rd, Borden, IN 47106
      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.
    227 Water St
    Borden, IN 47106
    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
    227 Water St, Borden, IN, 47106
    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!