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    Property profile & analytics

    401 S Earl Ave Lafayette, IN 47904

    • Office Properties & Spaces
    • 27,486 SF
    • 0.87 lot acres
    For Lease
    View listing
    $7 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0631292
    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

    • Douglas Hammel: Allstate Insurance / Insurance Agency
    • Allstate Personal Financial Representative: Thomas Jones / Financial Advisor
    • Globe Life Liberty National Division - The Bond Group / Insurance Agency
    • Eustache Medical Group / Medical Group
    • Allstate Insurance Agent: Hammel Insurance Agency / Insurance Agency

    Property Details for 401 S Earl Ave

    Year built
    1941
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.87 lot acres
    Property size
    27,486 SF
    Property type
    Office Properties & Spaces
    APN
    79-07-27-182-002.000-004
    APU
    790727182002000004

    Description

    This well-maintained, four-story commercial building at 401 South Earl Avenue in Lafayette, Indiana, offers 27,486 square feet of office space. The multi-tenant property boasts seven suites ranging in size from 735 to 2,200 square feet, providing flexibility for various business needs. Its excellent location in Tippecanoe County offers terrific central access to downtown Lafayette, Purdue University, and Interstate 65, ensuring high visibility and convenient commuting for employees and clients. The building features an elevator for easy access to all four floors. On-site parking is provided for tenants' convenience, along with on-site mail delivery services. This is an ideal opportunity for businesses seeking a well-maintained, centrally located office space in a thriving Indiana community. The property is zoned for commercial use and includes ample parking. The building's excellent condition and desirable location make it a strong investment opportunity. Individual offices and smaller suites are also available, catering to a range of business sizes and requirements. The zip code is 47904.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,682,000
      Market price range: $1.26M - $3.76M
      AI Estimate
      $1,505,000
      Market price range: $737k - $3.36M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,085,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Tippecanoe
    State
    Indiana
    Longitude
    -86.8602
    Latitude
    40.4131
    CBSA code
    29200
    CBSA name
    LAFAYETTE-WEST LAFAYETTE, 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
    $27,695
    $0.00
    $1,166,100
    $1,166,100
    -
    $0.00
    $1,166,100
    $1,166,100

    Comparable in this City

    • Value Estimation
      $9,805,000
      102,413 SF

      2600 Greenbush St

      OFFICE (GENERAL) • 102,413 SF
      2600 Greenbush St, Lafayette, IN 47904-2477
      View Details
    • Value Estimation
      $5,565,000
      51,872 SF

      2600 Fry St

      OFFICE (GENERAL) • 51,872 SF
      2600 Fry St, Lafayette, IN 47904-3055
      View Details
    • Value Estimation by Request
      11,216 SF

      12 Earl Ave

      OFFICE (GENERAL) • 11,216 SF
      12 Earl Ave, Lafayette, IN 47904
      View Details
    • Value Estimation
      $525,000
      7,746 SF

      2150 Elmwood Ave

      OFFICE (GENERAL) • 7,746 SF
      2150 Elmwood Ave, Lafayette, IN 47904-2359
      View Details
    • Value Estimation by Request
      1,982 SF

      2201 Fry St

      OFFICE (GENERAL) • 1,982 SF
      2201 Fry St, Lafayette, IN 47904-3047
      View Details
    • Value Estimation by Request
      1,412 SF

      2300 Main St

      OFFICE (GENERAL) • 1,412 SF
      2300 Main St, Lafayette, IN 47904-3334
      View Details

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    Similar Nearby for Lease

    • $7 SF/Yr
      1,440 SF

      Lafayette Office Space For Rent

      Well-maintained office building with easy access and excellent visibility.
      401 S Earl Ave, Lafayette, IN 47904
      View Details
    • $7 SF/Yr
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      Retail/Office Space with Ample Parking

      High-visibility retail or office space with easy access and parking.
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    • $12 SF/Yr
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      Professionally Finished Office Suites Available

      Office suites for lease in Lafayette, Indiana.
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      View Details
    • $7 SF/Yr
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      Lafayette Office Suites For Rent

      Four office suites available on the first floor.
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    • $8 SF/Yr
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      Market Square Retail Spaces Available

      Prime Lafayette retail space, multiple sizes.
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    • $14 SF/Yr
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      Lafayette Retail Space: Union St.

      Prime Lafayette Retail Opportunity: 4 Units Available
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      View Details
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    Lafayette, IN 47904
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    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
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