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    Property profile & analytics

    2308 Main St Plainfield, IN 46168-2733

    • Office Properties & Spaces
    • 2,428 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    May 12, 2021
    $410,000
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    7.9%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US31-0693800
    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

    • State Farm / Auto Insurance Agency
    • John a Payton PC / Attorney

    Property Details for 2308 Main St

    Year built
    1970
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.51 lot acres
    Property size
    2,428 SF
    Property type
    Office Properties & Spaces
    APN
    32-10-25-280-002.000-012
    APU
    321025280002000012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $315,000
      ML approach
      $385,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $415,000
      6.5%
      $385,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $338,000
      Market price range: $124k - $339k
      AI Estimate
      $316,000
      Market price range: $59.4k - $317k

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.3705
    Latitude
    39.7131
    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
    $8,246
    $258,400
    $154,800
    $413,200
    -
    $258,400
    $154,800
    $413,200

    Comparable in this City

    • Value Estimation by Request
      100,000 SF

      2601 Stout Heritage Pkwy

      Office Properties & Spaces • 100,000 SF
      2601 Stout Heritage Pkwy, Plainfield, IN 46168
      View Details
    • Value Estimation
      $370,000
      13,356 SF

      2455 Main St

      OFFICE (GENERAL) • 13,356 SF
      2455 Main St, Plainfield, IN 46168-2715
      View Details
    • Value Estimation
      $240,000
      1,008 SF

      203 Ml St

      OFFICE (GENERAL) • 1,008 SF
      203 Ml St, Plainfield, IN 46168-1141
      View Details
    • Value Estimation
      $110,000
      2,640 SF

      230 Ml Run Dr

      OFFICE (GENERAL) • 2,640 SF
      230 Ml Run Dr, Plainfield, IN 46168-1155
      View Details
    • Value Estimation
      $70,000
      10,000 SF

      170 Perry Rd

      OFFICE (GENERAL) • 10,000 SF
      170 Perry Rd, Plainfield, IN 46168-9025
      View Details
    • Value Estimation by Request
      13,676 SF

      206 Main St

      OFFICE (GENERAL) • 13,676 SF
      206 Main St, Plainfield, IN 46168-1134
      View Details

    Similar Nearby for Sale

    • $1,550,000
      7,200 SF

      Plainfield Shopping Center Investment

      6-Unit Retail Center, 100% Occupied
      2028 Stafford Rd, Plainfield, IN 46168
      View Details
    • $1,725,000
      4.42 Acres

      Plainfield Commercial Land - 4.42 Acres

      Prime Commercial Land, Plainfield, IN
      5011 Cambridge Way, Plainfield, IN 46168
      View Details
    • Contact for pricing
      500,192 SF

      Industrial Space in Plainfield

      500,192 SF industrial space available for lease.
      501 Airtech Pkwy, Plainfield, IN 46168
      View Details
    • $1,704,500
      4 SF

      Retail Land in Growing Plainfield

      4.85 acres of retail space on Plainfield's west side.
      Shoppes At Legacy Farms Block B, Plainfield, IN 46168
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    • $780,000

      Land For Sale Plainfield

      Land available for sale at 5074 Gateway Dr, Plainfield, IN.
      5074 Gateway Dr, Plainfield, IN 46168
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    • New
      $49,900
      Pending

      Residential Lots in Hickory Woods

      Two wooded residential lots available in Plainfield, Indiana.
      5714 Hickory Woods Ct, Plainfield, IN 46168
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    Similar Nearby for Lease

    • Contact for pricing
      2,586 SF

      Plainfield Office Space for Lease

      2,617 SF Office, Shell Condition, Ample Parking
      1201 Columbia Rd, Plainfield, IN 46168
      View Details
    • $16 SF/Yr
      100,000 SF

      Prime Plainfield Executive Office Space

      10,195 SF Available in Class A Building
      2601 Stout Heritage Pkwy, Plainfield, IN 46168
      View Details
    • $19 SF/Yr
      100,000 SF

      Prime Plainfield Office Space

      100,000 SF Office Building, 24,218 SF Available
      2601 Stout Heritage Pkwy, Plainfield, IN 46168
      View Details
    • $750 /Mo
      12,972 SF

      Plainfield Office Space Available

      Office space for rent in Plainfield, Indiana.
      201 W Main St, Plainfield, IN 46168
      View Details
    • $25 SF/Yr
      4,156 SF

      Prime Medical Office Suites in Plainfield, IN

      Two Suites Available, High Foot Traffic Location
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    • $18 SF/Yr
      3,493 SF

      Office Space Near I-70

      Office space available with convenient highway access and ample parking.
      6100 Clarks Creek Rd, Plainfield, IN 46168
      View Details
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    2308 Main St
    Plainfield, IN 46168-2733
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    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
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