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

    3216 Ballard Ln New Albany, IN 47150-7200

    • Office Properties & Spaces
    • 8,856 SF
    • 1.87 lot acres
    OFF-MARKET
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1897254
    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

    • Adapt For Life - Autism Services and ABA Therapy / Crisis Center / Medical Clinic
    • M S Inspections & Logistics / Home Inspector
    • Heather Tomes / Physician / Medical Clinic
    • Emma Miklinski / Physician / Medical Clinic
    • United Brokers Inc / Insurance Agency

    Property Details for 3216 Ballard Ln

    Year built
    1992
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.87 lot acres
    Property size
    8,856 SF
    Property type
    Office Properties & Spaces
    APN
    22-05-02-300-197.000-008
    APU
    220502300197000008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $889,000
      Market price range: $342k - $889k
      AI Estimate
      $889,000
      Market price range: $214k - $889k

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

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.821
    Latitude
    38.3268
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-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
    $29,108
    $344,600
    $289,300
    $633,900
    -
    $344,600
    $289,300
    $633,900

    Comparable in this City

    • Value Estimation by Request
      12,408 SF

      5140 Charlestown Rd Ste 2a

      OFFICE (GENERAL) • 12,408 SF
      5140 Charlestown Rd Ste 2a, New Albany, IN 47150-8402
      View Details
    • Value Estimation by Request
      12,876 SF

      5150 Charlestown Rd

      OFFICE (GENERAL) • 12,876 SF
      5150 Charlestown Rd, New Albany, IN 47150-9467
      View Details
    • Value Estimation
      $2,040,000
      21,887 SF

      4601 Charlestown Rd

      OFFICE (GENERAL) • 21,887 SF
      4601 Charlestown Rd, New Albany, IN 47150-9558
      View Details
    • Value Estimation by Request
      3,942 SF

      1438 Charlestown Rd, Unit 1440

      OFFICE (GENERAL) • 3,942 SF
      1438 Charlestown Rd, New Albany, IN 47150-3336
      View Details
    • Value Estimation by Request
      12,876 SF

      5150 Charlestown Rd

      OFFICE (GENERAL) • 12,876 SF
      5150 Charlestown Rd, New Albany, IN 47150-9467
      View Details
    • Value Estimation by Request
      12,408 SF

      5140 Charlestown Rd Ste 2b

      OFFICE (GENERAL) • 12,408 SF
      5140 Charlestown Rd Ste 2b, New Albany, IN 47150-9475
      View Details

    Similar Nearby for Sale

    • $795,000
      4,712 SF

      Downtown New Albany Office Building

      Updated office building in revitalized downtown area with parking.
      320 E Elm St, New Albany, IN 47150
      View Details
    • $1,750,000
      10,702 SF

      Office Building in New Albany

      Office building for sale in New Albany, Indiana.
      301 E Elm St, New Albany, IN 47150
      View Details
    • $3,095,000
      28,044 SF

      Well-Maintained Industrial-Office Building For Sale

      28,000+ SF industrial-office building built in 2016/2017.
      4302 Security Pkwy, New Albany, IN 47150
      View Details
    • $650,000
      960 SF

      Thriving Landscape Business Sale

      Established Landscape Co. w/ Building
      910 Industrial Blvd, New Albany, IN 47150
      View Details
    • $475,000
      1,350 SF

      Restaurant Property with Drive-Up Window

      Commercial property with drive-up, parking, and restaurant equipment.
      514 Vincennes St, New Albany, IN 47150
      View Details
    • $400,000

      Corner Lot Commercial Land

      Commercial land with city utilities and development potential.
      4802 Grant Line Rd, New Albany, IN 47150
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      21,534 SF

      New Albany Executive Office Space

      Prime New Albany office building, flexible suites available.
      821 Mount Tabor Rd, New Albany, IN 47150
      View Details
    • $700 /Mo
      700 SF

      Office Space Available For Rent

      700 square feet office space for rent in New Albany.
      1931 E Spring St, New Albany, IN 47150
      View Details
    • Contact for pricing
      1,795 SF

      New Albany Medical Office Space

      Modern, Class A office suite available.
      4000 Technology Ave, New Albany, IN 47150
      View Details
    • Contact for pricing
      3,458 SF

      Class A Office Space Available

      Highly visible office space in Southern Indiana's premier building.
      4106 Charlestown Rd, New Albany, IN 47150
      View Details
    • $14 SF/Yr
      3,150 SF

      Cobbler's Place Endcap Retail/Office

      Prime 3,150 sq ft endcap with drive-thru.
      5170 Charlestown Rd, New Albany, IN 47150
      View Details
    • $10 SF/Yr
      7,260 SF

      Downtown New Albany Office Space

      Professional office space in growing downtown New Albany.
      700 Pearl St, New Albany, IN 47150
      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.
    3216 Ballard Ln
    New Albany, IN 47150-7200
    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.