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    Property profile & analytics

    337 Us Highway 421 Versailles, IN 47042

    • Retail space
    • 968 SF
    • 4.00 lot acres
    For Sale
    View listing
    $495,000
    Value Estimation
    Location Intelligence
    Property ID
    US31-1184026
    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

    • Retail space

    Property Details for 337 Us Highway 421

    Year built
    1952
    Construction
    WOOD
    Lot size
    4.00 lot acres
    Property size
    968 SF
    Property type
    Retail space
    APN
    69-13-02-300-029.000-013
    APU
    691302300029000013

    Description

    This exceptional 23+ acre property presents a unique investment opportunity in Versailles, Indiana. Currently operating as the beloved Bel Air Drive-In movie theater for over 73 years, this iconic location boasts significant potential for diverse uses. The property features frontage on two roads, providing excellent accessibility. Improvements include a 1000 square foot concession building offering a variety of food and drink options, a projector room equipped for digital movie downloads, and an office. Three oversized pole barn garages provide ample storage space. The expansive grounds also include several large ponds and approximately 12-14 acres of woodlands. The property's versatility allows for various development options, including subdivision for residential building sites, the installation of storage units, potential solar fields, or the creation of a recreational/campground. Its prime location offers easy access to major metropolitan areas, being less than an hour from Cincinnati, Ohio and Florence, Kentucky, and approximately 75 miles from both Indianapolis and Louisville, Kentucky. This nostalgic property offers a blend of established business and significant future development potential, making it an attractive investment for those seeking a unique and versatile asset. The existing drive-in theater provides immediate income potential while the vast acreage allows for a wide range of future development possibilities.

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Versailles
    County
    Ripley
    State
    Indiana
    Longitude
    -85.2741
    Latitude
    39.0797

    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
    $3,402
    $79,300
    $124,400
    $203,700
    -
    $79,300
    $124,400
    $203,700

    Comparable in this City

    • Value Estimation
      $335,000
      2,337 SF

      1233 Adams St

      RETAIL STORES (PERSONAL SERVICES) • 2,337 SF
      1233 Adams St, Versailles, IN 47042-8389
      View Details
    • Value Estimation
      $685,000
      7,854 SF

      319 Adams St

      RETAIL STORES (PERSONAL SERVICES) • 7,854 SF
      319 Adams St, Versailles, IN 47042
      View Details
    • Value Estimation
      $415,000
      5,400 SF

      603 Us Hwy 50

      RETAIL STORES (PERSONAL SERVICES) • 5,400 SF
      603 Us Hwy 50, Versailles, IN 47042-9197
      View Details
    • Value Estimation by Request
      1,683 SF

      112 Ws St

      RETAIL STORES (PERSONAL SERVICES) • 1,683 SF
      112 Ws St, Versailles, IN 47042-9452
      View Details
    • Value Estimation by Request
      1,248 SF

      218 Perry St

      RETAIL STORES (PERSONAL SERVICES) • 1,248 SF
      218 Perry St, Versailles, IN 47042
      View Details
    • Value Estimation by Request
      750 SF

      Tanglewood Rd

      RETAIL STORES (PERSONAL SERVICES) • 750 SF
      Tanglewood Rd, Versailles, IN 47042
      View Details

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    337 Us Highway 421
    Versailles, IN 47042
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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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