Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    321 N State St Greenfield, IN 46140
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    321 N State St Greenfield, IN 46140

    View on Map
    • Office Units
    • 2,038 SF
    Off-Market
    Property ID
    US31-1267221
    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

    • Office Units

    Property Details for 321 N State St

    Year built
    1900
    Property size
    2,038 SF
    Property type
    Office Units
    Property subtype
    Commercial real estate

    Description

    Discover this beautifully renovated historic home in downtown Greenfield, where original charm meets modern updates! This 3-bedroom, 2-bathroom gem has been thoughtfully transformed, offering a perfect blend of classic elegance & contemporary convenience. Inside, you'll find all-new windows that bri ... ghten every room, complemented by fresh paint throughout. The electrical system has been updated for your peace of mind & the bathrooms have been stylishly modernized. Enjoy all-new flooring, with the living room & sunroom featuring re-sanded & refinished original hardwood floors, preserving the home's timeless appeal. The kitchen boasts new appliances, ready for all your culinary adventures. Step outside to a brand new privacy fence enclosing a massive concrete patio, perfect for entertaining or relaxing. A large storage shed provides ample space for your outdoor needs. The all-new landscaping enhances the property's curb appeal, creating a welcoming & serene environment. This home is a rare find, offering the best of both worlds: historic charm & modern updates. Don't miss the opportunity to make this Greenfield treasure your own! Home was previously used as office space.

    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
    Greenfield
    County
    Hancock
    State
    Indiana
    Longitude
    -85.76907
    Latitude
    39.78835

    Comparable in this City

    • Contact for pricing
      2,100 SF

      Dual-Zoned Live-Work Opportunity

      Versatile property for live-work or professional office use.
      621 N State St, Greenfield, IN 46140
      View Details
    • $999,000
      5,027 SF

      Greenfield Office Building For Sale

      Office building with 5027 square feet of space.
      204 Barrett Dr, Greenfield, IN 46140
      View Details
    • Contact for pricing
      7,800 SF

      Multi-Tenant Retail Building For Sale

      7,800 SF retail building with existing tenants in Greenfield, IN.
      1789-1798 Melody Ln, Greenfield, IN 46140
      View Details
    • Contact for pricing
      8,608 SF

      Downtown Office Building with Expansion

      Office building with expansion potential in downtown location.
      9 American Legion Pl, Greenfield, IN 46140
      View Details
    • $600,000

      Two-Story Office Building For Sale

      Two-story office building with flexible floor plans and ample parking.
      1105 West Main St, Greenfield, IN 46140
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,100 SF

      Dual-Zoned Live-Work Opportunity

      Versatile property for live-work or professional office use.
      621 N State St, Greenfield, IN 46140
      View Details
    • $999,000
      5,027 SF

      Greenfield Office Building For Sale

      Office building with 5027 square feet of space.
      204 Barrett Dr, Greenfield, IN 46140
      View Details
    • Contact for pricing
      7,800 SF

      Multi-Tenant Retail Building For Sale

      7,800 SF retail building with existing tenants in Greenfield, IN.
      1789-1798 Melody Ln, Greenfield, IN 46140
      View Details
    • Contact for pricing
      8,608 SF

      Downtown Office Building with Expansion

      Office building with expansion potential in downtown location.
      9 American Legion Pl, Greenfield, IN 46140
      View Details
    • $600,000

      Two-Story Office Building For Sale

      Two-story office building with flexible floor plans and ample parking.
      1105 West Main St, Greenfield, IN 46140
      View Details

    Similar Nearby for Lease

    • $1,150 /Mo
      2,500 SF

      Greenfield Mixed-Use Commercial Space

      Versatile commercial space in a high-traffic Greenfield location.
      421 N State St, Greenfield, IN 46140
      View Details
    • Contact for pricing
      377,781 SF

      Industrial Warehouse Space in Greenfield

      Modern industrial park location with ample parking and dock doors.
      6887 W 350 N, Greenfield, IN 46140
      View Details
    • Contact for pricing
      802,907 SF

      802,907 SF Industrial Space

      Large industrial space available for lease in Greenfield, Indiana.
      6905 W 300 N, Greenfield, IN 46140
      View Details
    • Contact for pricing
      236,759 SF

      Industrial Space Near I-70 Access

      Industrial space available for build-to-suit with I-70 access.
      7800 W 200 N, Greenfield, IN 46140
      View Details
    • Contact for pricing
      506,000 SF

      Greenfield Warehouse Space Available

      506,000 SF warehouse/distribution space in Greenfield, Indiana.
      3086 W 300 N, Greenfield, IN 46140
      View Details
    • $1.00 SF/Yr
      28,000 SF

      Industrial Warehouse Space Available

      28,000 square foot warehouse space for lease.
      W 200 N, Greenfield, IN 46140
      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.
    321 N State St
    Greenfield, IN 46140
    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.
    Sign Up Successful!
    You now have access to more from Realmo!