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

    3620 Paoli Pike Floyds Knobs, IN 47119

    • Strip malls
    • 20,250 SF
    • 2.04 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    $605,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2923175
    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

    • Strip malls

    Property Details for 3620 Paoli Pike

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.04 lot acres
    Property size
    20,250 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    22-04-02-000-001.007-006
    APU
    220402000001007006

    Description

    Located at 3620 Paoli Pike in Floyds Knobs, Indiana (zip code 47119), the Shoppes at Old Hill offers exceptional retail opportunities. This single-story, 20,388 square foot building sits on a 2.03-acre lot and is zoned COMMERCIAL. Currently, there are two suites available, with a minimum divisible space of 1,500 square feet and a maximum contiguous space of 2,975 square feet. A total of 4,475 square feet is currently vacant, presenting a unique chance for businesses seeking immediate occupancy. The property's convenient location in Floyd County, Indiana provides excellent visibility and accessibility for customers. This is an ideal location for businesses seeking a well-maintained, established retail space in a thriving community. The property is easily accessible from Paoli Pike and offers ample parking for customers and employees. Serious inquiries are encouraged to explore this promising retail investment. The property features a single building with multiple suites, providing flexibility for various business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $705,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $500,000
      Market price range: $464k - $787k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $620,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,120,000
      Change: +80% Conversion: Difficult
      WAREHOUSE, STORAGE
      $820,000
      Change: +32% Conversion: Difficult
      MEDICAL BUILDING
      $760,000
      Change: +23% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Floyds Knobs
    County
    Floyd
    State
    Indiana
    Longitude
    -85.8709
    Latitude
    38.3243
    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
    $19,070
    $173,500
    $896,900
    $1,070,400
    -
    $173,500
    $896,900
    $1,070,400

    Comparable in this City

    • Value Estimation
      $455,000
      17,050 SF

      758 Highlander Pt Dr

      SHOPPING CENTER, STRIP CENTER • 17,050 SF
      758 Highlander Pt Dr, Floyds Knobs, IN 47119-9682
      View Details
    • Value Estimation
      $535,000
      15,000 SF

      500 Lafollette N Sta

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      500 Lafollette N Sta, Floyds Knobs, IN 47119-8747
      View Details
    • Value Estimation
      $520,000
      16,920 SF

      400 Lafollette N Sta

      SHOPPING CENTER, STRIP CENTER • 16,920 SF
      400 Lafollette N Sta, Floyds Knobs, IN 47119-9780
      View Details
    • Value Estimation
      $265,000
      4,400 SF

      4620 Williamsburg Sta

      SHOPPING CENTER, STRIP CENTER • 4,400 SF
      4620 Williamsburg Sta, Floyds Knobs, IN 47119-9619
      View Details
    • Value Estimation
      $330,000
      11,520 SF

      100 Lafollette S Sta

      SHOPPING CENTER, STRIP CENTER • 11,520 SF
      100 Lafollette S Sta, Floyds Knobs, IN 47119-9772
      View Details
    • Value Estimation
      $310,000
      12,544 SF

      753 Highlander Pt Dr

      SHOPPING CENTER, STRIP CENTER • 12,544 SF
      753 Highlander Pt Dr, Floyds Knobs, IN 47119-9682
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Commercial Development Tract on Highway

      7 acre commercial development tract with highway frontage.
      Highway 150, Floyds Knobs, IN 47119
      View Details
    • New
      $52,900
      0.28 Acres

      Residential Lot in Lakeside Forest

      Residential lot with neighborhood amenities near Louisville.
      3605 Sunset Ridge Ct, Floyds Knobs, IN 47119
      View Details
    • $170,000
      1.26 Acres

      Residential Lot in Old Hill Estates

      1.257-acre cul-de-sac lot to build your dream home.
      Old Oak Rdg, Floyds Knobs, IN 47119
      View Details
    • New
      $52,900
      0.29 Acres

      Residential Lot in Lakeside Forest

      Residential lot with neighborhood amenities near Louisville, Floyds Knobs.
      3607 Sunset Ridge Ct, Floyds Knobs, IN 47119
      View Details
    • New
      $55,000
      0.28 Acres

      Residential Lot in Lakeside Forest

      Residential lot in Floyds Knobs, minutes from Louisville.
      3632 Woodland Lk Dr, Floyds Knobs, IN 47119
      View Details
    • $1,500,000
      2.11 Acres

      Prime Floyd County Commercial Land

      2.11 Acres, General Commercial Zoning
      4630 Williamsburg Sta Rd, Floyds Knobs, IN 47119
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      20,388 SF

      Shoppes at Old Hill Retail Space

      Prime Floyd County retail space available. Multiple suites, flexible sizes.
      3620 Paoli Pike, Floyds Knobs, IN 47119
      View Details
    • Contact for pricing
      8,038 SF

      Prime Floyds Knobs Retail Space

      8,038 SF Retail Building, 3,000 SF Available
      3660 Paoli Pike, Floyds Knobs, IN 47119
      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.
    3620 Paoli Pike
    Floyds Knobs, IN 47119
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.