Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2315 Merchant Mile Columbus, IN 47201-1557

    • Outlet malls
    • 162,366 SF
    • 16.07 lot acres
    OFF-MARKET
    Value Estimations
    $8,815,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1445439
    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

    • Pittsburgh Paints & Stains - Available At Menard's / Hardware & Home Improvement / Building Supply
    • Menards / Big Box & Wholesale Store / Building Supply
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 2315 Merchant Mile

    Year built
    2004
    Construction
    TYPE NOT SPECIFIED
    Lot size
    16.07 lot acres
    Property size
    162,366 SF
    Property type
    Outlet malls
    APN
    03-95-27-140-000.103-005
    APU
    39527140000103005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $9,783,000
      Market price range: $6.55M - $19.9M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $12,595,000
      Current use
      RESTAURANT
      $13,445,000
      Change: +7% Conversion: Easy
      MEDICAL BUILDING
      $10,640,000
      Change: -16% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $10,355,000
      Change: -18% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,200,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Bartholomew
    State
    Indiana
    Longitude
    -85.9507
    Latitude
    39.1962
    CBSA code
    18020
    CBSA name
    COLUMBUS, 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
    $219,042
    $7,061,200
    $1,304,600
    $8,365,800
    -
    $7,061,200
    $1,304,600
    $8,365,800

    Comparable in this City

    • Value Estimation
      $5,085,000
      96,066 SF

      711 Creekview Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 96,066 SF
      711 Creekview Dr, Columbus, IN 47201-6683
      View Details
    • Value Estimation by Request
      16.40 Acres

      Merchants Mile

      WHOLESALE OUTLET, DISCOUNT STORE • 16.40 Acres
      Merchants Mile, Columbus, IN 47201
      View Details
    • Value Estimation
      $7,475,000
      144,601 SF

      3500 10th St

      WHOLESALE OUTLET, DISCOUNT STORE • 144,601 SF
      3500 10th St, Columbus, IN 47201-5591
      View Details
    • Value Estimation
      $7,505,000
      139,676 SF

      2715 Merchant Mile

      WHOLESALE OUTLET, DISCOUNT STORE • 139,676 SF
      2715 Merchant Mile, Columbus, IN 47201-1573
      View Details
    • Value Estimation
      $5,060,000
      105,369 SF

      2955 National Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 105,369 SF
      2955 National Rd, Columbus, IN 47201-3215
      View Details
    • Value Estimation
      $6,780,000
      126,761 SF

      1865 National Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 126,761 SF
      1865 National Rd, Columbus, IN 47201-5194
      View Details

    Similar Nearby for Sale

    • $149,900
      1 SF

      Mixed-Use Investment Opportunity

      Two income-producing properties: residential and commercial lot.
      2060 State St, Columbus, IN 47201
      View Details
    • $95,000
      0.37 Acres

      Residential Building Lot in Columbus

      Residential lot in Columbus, Indiana with potential for walk-out basement.
      7 Deer Creek Way, Columbus, IN 47201
      View Details
    • $1,676,000
      9,400 SF

      Two Mile House Investment Opportunity

      Two commercial condominium units for sale with long-term tenants.
      3528 W Two Mile House Rd, Columbus, IN 47201
      View Details
    • $4,860,145

      Columbus Industrial Property For Sale

      Industrial property available for purchase in Columbus, Indiana.
      635 S Mapleton St, Columbus, IN 47201
      View Details
    • $850,000
      Pending

      Columbus Industrial Property with Acreage

      Industrial property with buildings and acreage for expansion or recreation.
      2561 N Indianapolis Rd, Columbus, IN 47201
      View Details
    • $485,500
      45.37 Acres

      45.37 Acre Wooded Retreat

      45.37 acre wooded retreat with rolling hills and mature hardwoods.
      Sr 46, Columbus, IN 47201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,425 SF

      State Mapleton Plaza Retail Space

      Columbus, IN Shopping Center - Space Available
      2150 State St, Columbus, IN 47201
      View Details
    • Contact for pricing
      392 SF

      Retail Space in Grocery Anchored Center

      Retail space available in a grocery anchored shopping center.
      2540 Eastbrook Plz, Columbus, IN 47201
      View Details
    • Contact for pricing
      2,885 SF

      NexusPark Retail Space Available

      Redevelopment project with retail space, sports, health, and recreation.
      2326-2380 25Th St, Columbus, IN 47201
      View Details
    • Contact for pricing

      River Bend West II Retail Space

      Columbus, IN: 2,200 SF Retail Space Available
      3860 Carlos Folger Dr, Columbus, IN 47201
      View Details
    • Contact for pricing
      2,030 SF

      Retail Space with Pickup Window

      2,030 SF endcap space available February 2025.
      1310 N National Rd, Columbus, IN 47201
      View Details
    • Contact for pricing
      482,323 SF

      Nexus Park Retail Space

      Columbus, IN Mixed-Use Retail Opportunity
      2380 25Th St, Columbus, IN 47201
      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.
    2315 Merchant Mile
    Columbus, IN 47201-1557
    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

    Google sign-in failed. Please try again or use another login method.