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    Property profile & analytics

    240 Mall Rd Logansport, IN 46947

    • Outlet malls
    • 153,467 SF
    • 27.47 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2919872
    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

    • Walmart Deli / Food Market / Restaurant
    • Walmart Money Center / Bank / Credit Union
    • Claire’s / Department Store
    • Walmart Business Center / Tech Support Center / (Bike/Boat/Book/etc) Store
    • Claire's Walmart / (Bike/Boat/Book/etc) Store

    Property Details for 240 Mall Rd

    Year built
    2010
    Construction
    TYPE NOT SPECIFIED
    Lot size
    27.47 lot acres
    Property size
    153,467 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    09-17-28-200-003.001-010
    APU
    91728200003001010

    Description

    This exceptional 1.3-acre outparcel presents a remarkable investment opportunity in Logansport, Indiana. Strategically located directly in front of the only Walmart Supercenter in Cass County, this property benefits from the significant traffic generated by this high-volume retailer. The site's visibility is further enhanced by its position at 240 Mall Road (Pad 1), with multiple points of ingress and egress, including a signalized entry, ensuring easy access for customers. The surrounding area boasts a strong retail presence, including a diverse mix of national brands and popular restaurants. Nearby establishments include Maurice's, Petsense, Great Clips, Buffalo Wild Wings, Home Depot, and Dollar Tree, creating a vibrant and thriving commercial environment. This prime location in the county seat of Cass County offers unparalleled exposure and accessibility, making it ideal for a variety of retail or commercial developments. The property's size and location provide ample space for construction and significant potential for return on investment. This is a rare opportunity to acquire a highly visible and well-situated parcel in a strong retail corridor. The address is 240 Mall Road, Logansport, IN 46947.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $12,670,000
      Current use
      AUTO REPAIR, GARAGE
      $13,170,000
      Change: +4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $12,260,000
      Change: -3% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $10,810,000
      Change: -15% Conversion: Difficult
      RESTAURANT
      $10,630,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Logansport
    County
    Cass
    State
    Indiana
    Longitude
    -86.3131
    Latitude
    40.7614
    CBSA code
    30900
    CBSA name
    LOGANSPORT, IN MICROPOLITAN 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
    $213,480
    $2,278,000
    $4,838,000
    $7,116,000
    -
    $2,278,000
    $4,838,000
    $7,116,000

    Comparable in this City

    • Value Estimation
      $3,350,000
      77,552 SF

      3900 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 77,552 SF
      3900 Market St, Logansport, IN 46947-2239
      View Details
    • Value Estimation
      $4,690,000
      97,748 SF

      4120 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 97,748 SF
      4120 Market St, Logansport, IN 46947-2233
      View Details
    • Value Estimation
      $1,880,000
      52,642 SF

      2865 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 52,642 SF
      2865 Market St, Logansport, IN 46947-2070
      View Details
    • Value Estimation
      $1,430,000
      33,600 SF

      2525 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 33,600 SF
      2525 Market St, Logansport, IN 46947-2068
      View Details
    • Value Estimation
      $2,350,000
      95,141 SF

      3919 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 95,141 SF
      3919 Market St, Logansport, IN 46947-2291
      View Details
    • Value Estimation
      $985,000
      48,996 SF

      Market St

      SHOPPING CENTER, STRIP CENTER • 48,996 SF
      Market St, Logansport, IN 46947
      View Details

    Similar Nearby for Sale

    • $2,495,000
      18,600 SF

      Cass County Commons - Logansport, IN

      Retail Investment: High Occupancy, Value-Add
      3900 Lexington Rd, Logansport, IN 46947
      View Details
    • $2,175,000
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      Logansport Retail Investment

      High-yield, 2-tenant retail center
      4120 Market St, Logansport, IN 46947
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      688 SF

      Scooter’s Coffee NNN Investment

      Corporate guaranteed NNN investment with zero landlord responsibilities.
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      1.30 Acres

      High-Traffic Walmart Outparcel

      1.3-acre land, prime retail location.
      240 Mall Rd, Logansport, IN 46947
      View Details
    • $359,000
      19.85 Acres

      Logansport Commercial Land Development

      19.85 Acres, Prime Commercial Location
      0 Market St, Logansport, IN 46947
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    Similar Nearby for Lease

    • Contact for pricing
      3,538 SF

      Retail Space Near Walmart, Home Depot

      Retail space available near Walmart and Home Depot.
      3830 E Market St, Logansport, IN 46947
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      Retail space with high-traffic co-tenants near a Walmart Supercenter.
      3900 Lexington Rd, Logansport, IN 46947
      View Details
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      6,220 SF

      Retail Space in Logansport

      Retail space available in Logansport, Indiana near major retailers.
      3916-3922 E Market St, Logansport, IN 46947
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space Near Walmart, Home Depot

      Retail space available near major retailers in Logansport, Indiana.
      3902 E Market St, Logansport, IN 46947
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on Market Street

      Retail space for lease on main retail corridor.
      3025-3097 E Market St, Logansport, IN 46947
      View Details
    • Contact for pricing
      10,924 SF

      The Junction Retail Space Available

      Logansport Retail Center: Spaces for Lease
      3900 Market St, Logansport, IN 46947
      View Details
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    Logansport, IN 46947
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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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