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

    402 South Richland Creek Dr Princeton, IN 47670

    • Commercial real estate
    • 3,600 SF
    • 4.11 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1901069
    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

    • Bosse Title Company / Title Company
    • Yazaki / Auto Parts Manufacturer
    • Touchstone Therapy LLC / Mental Health Service / Psychotherapist
    • Tiffany Grayson / Physical Therapist

    Property Details for 402 South Richland Creek Dr

    Year built
    2007
    Construction
    WOOD
    Lot size
    4.11 lot acres
    Property size
    3,600 SF
    Property type
    Commercial real estate
    APN
    26-11-12-303-004.075-028
    APU
    261112303004075028

    Description

    This exceptional 3,200 square foot commercial property, located at 402 S Richland Creek Dr in Princeton, Indiana, presents a unique investment opportunity. The single-story building, situated on 4.11 acres of land, boasts a flexible layout ideal for a variety of uses. Currently zoned B, it's perfectly suited for medical offices or a coworking space, given its existing configuration and proximity to key amenities. The property underwent renovations in 2007, ensuring a modern and functional space. With a total of 3,200 square feet, the building offers ample room for expansion or multiple tenants. Currently, one 1,200 square foot space is available. The property's convenient location near the hospital, downtown Princeton, and the Toyota Motor Manufacturing plant provides excellent visibility and accessibility. The property features one building with no elevators. The Assessor's Parcel Number (APN) is 26-11-12-303-004.075-028, and the property is located in Gibson County, Indiana, zip code 47670. This Class B property offers a compelling blend of functionality, location, and potential, making it an attractive option for discerning investors and businesses seeking a well-established presence in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Gibson
    State
    Indiana
    Longitude
    -87.5923
    Latitude
    38.3495
    CBSA code
    21780
    CBSA name
    EVANSVILLE, IN-KY 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
    $10,881
    $171,600
    $191,100
    $362,700
    -
    $171,600
    $191,100
    $362,700

    Comparable in this City

    • Value Estimation by Request
      1.04 Acres

      3219 Broadway St

      Land • 1.04 Acres
      3219 Broadway St, Princeton, IN 47670
      View Details
    • Value Estimation by Request
      6,930 SF

      220 Emerson St

      COMMERCIAL (GENERAL) • 6,930 SF
      220 Emerson St, Princeton, IN 47670-1510
      View Details
    • Value Estimation by Request
      18,550 SF

      225 Emerson St

      COMMERCIAL (GENERAL) • 18,550 SF
      225 Emerson St, Princeton, IN 47670-1511
      View Details
    • Value Estimation by Request
      17,703 SF

      127 Hart St

      COMMERCIAL (GENERAL) • 17,703 SF
      127 Hart St, Princeton, IN 47670-1532
      View Details
    • Value Estimation by Request
      2,082 SF

      934 Main St

      COMMERCIAL (GENERAL) • 2,082 SF
      934 Main St, Princeton, IN 47670-2654
      View Details
    • Value Estimation by Request
      2,176 SF

      1102 Main St

      COMMERCIAL (GENERAL) • 2,176 SF
      1102 Main St, Princeton, IN 47670-3046
      View Details

    Similar Nearby for Sale

    • $99,900
      1.04 Acres

      Princeton Commercial Land - $99,900

      Prime 1.04-acre commercial lot in Princeton, IN.
      3219 Broadway St, Princeton, IN 47670
      View Details
    • $1,596,000
      40.00 Acres

      40-Acre Commercial Land, Princeton, IN

      Prime Industrial/Commercial Land - Shovel Ready Site
      1342 100, Princeton, IN 47670
      View Details
    • $349,900
      15.13 Acres

      Princeton Land: 15 Acres

      Prime Residential Development Land
      1137 Main St, Princeton, IN 47670
      View Details
    • $650,000
      8.03 Acres

      Prime Princeton Land - 8 Acres

      High-traffic corner lot, ideal for development.
      3559 Us Highway 41, Princeton, IN 47670
      View Details
    • $797,000
      2.00 Acres

      Prime Princeton Commercial Land

      Two-acre commercial lot, city utilities.
      0 50, Princeton, IN 47670
      View Details
    • $109,900
      1.70 Acres

      Princeton Commercial Land - $109,900

      Three build-ready lots, 1.7 acres total.
      3221 Broadway St, Princeton, IN 47670
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      3,832 SF

      Princeton Retail Property: Lease/Ground Lease Opportunity

      3,832 SF Restaurant, High Traffic Location
      2825 Broadway St, Princeton, IN 47670
      View Details
    • Contact for pricing
      3,200 SF

      Princeton Flex Space For Rent

      Flex space available for rent with shop and office areas.
      402 South Richland Creek Dr, Princeton, IN 47670
      View Details
    • Contact for pricing
      99,454 SF

      West Broadway Retail Center

      Princeton, IN Strip Mall - Spaces Available
      1500 Broadway St, Princeton, IN 47670
      View Details
    • Contact for pricing

      Commercial Land in Princeton, IN

      Dominant shopping center location at Hwy 41 and S.R. 64.
      2819 W Broadway St, Princeton, IN 47670
      View Details
    • $4 SF/Yr
      49,700 SF

      Princeton Warehouse, Manufacturing, or Assembly

      49,700 SF available for lease in Princeton, Indiana.
      901 S 1St St, Princeton, IN 47670
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space in Princeton, IN

      Dominant shopping center with stoplight access at major intersection.
      2691 W Broadway St, Princeton, IN 47670
      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.
    402 South Richland Creek Dr
    Princeton, IN 47670
    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.