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    Property profile & analytics

    2434 Us Hwy 231 Spencer, IN 47460-6652

    • Turn key restaurants
    • 4,404 SF
    • 10.11 lot acres
    OFF-MARKET
    Value Estimation
    $355,000
    Last Sale
    Sep 12, 2023
    Location Intelligence
    Property ID
    US31-1861498
    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

    • Turn key restaurants

    Property Details for 2434 Us Hwy 231

    Year built
    1946
    Construction
    WOOD
    Lot size
    10.11 lot acres
    Property size
    4,404 SF
    Property type
    Turn key restaurants
    APN
    60-10-09-100-020.000-027
    APU
    601009100020000027

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Owen
    State
    Indiana
    Longitude
    -86.7438
    Latitude
    39.325
    CBSA code
    14020
    CBSA name
    BLOOMINGTON, 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
    $2,894
    $92,200
    $97,100
    $189,300
    -
    $92,200
    $97,100
    $189,300

    Comparable in this City

    • Value Estimation
      $335,000
      2,088 SF

      404 Morgan St

      RESTAURANT • 2,088 SF
      404 Morgan St, Spencer, IN 47460-1542
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    • Value Estimation
      $205,000
      352 SF

      2411 Riv Rd

      RESTAURANT • 352 SF
      2411 Riv Rd, Spencer, IN 47460-6716
      View Details
    • Value Estimation by Request
      6,016 SF

      154 Main St

      RESTAURANT • 6,016 SF
      154 Main St, Spencer, IN 47460-1732
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    • Value Estimation
      $350,000
      7,114 SF

      72 Market St

      RESTAURANT • 7,114 SF
      72 Market St, Spencer, IN 47460-1736
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    • Value Estimation
      $305,000
      3,776 SF

      3 Franklin St

      RESTAURANT • 3,776 SF
      3 Franklin St, Spencer, IN 47460-1723
      View Details
    • Value Estimation
      $355,000
      4,077 SF

      405 Franklin St

      RESTAURANT • 4,077 SF
      405 Franklin St, Spencer, IN 47460-1823
      View Details

    Similar Nearby for Sale

    • $294,900
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      Commercial Space Near Downtown Spencer

      4,600 SF commercial space ideal for food production/retail.
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      View Details
    • $279,900
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      Spencer Warehouse with Showroom Space

      Warehouse with showroom, loading dock, and recent upgrades in Spencer.
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    • $250,000
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    • $229,900
      25.41 Acres

      25.41 Acres Near US 231

      25.41-acre property with wooded and tillable land near US 231.
      231 N Hwy, Spencer, IN 47460
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    • $87,500

      Land For Sale

      Land available for sale in Spencer, Indiana.
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    • $129,900
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      14 Acres of Farmland

      14-acre farm lot in Owen County, ideal for homesteading.
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      View Details
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    Spencer, IN 47460-6652
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    Realmo Value Estimation

    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.

    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.

    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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