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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    485 Main St Columbia City, IN 46725-1311

    • Retail space
    • 6,430 SF
    • 0.98 lot acres
    OFF-MARKET
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1746535
    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 485 Main St

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.98 lot acres
    Property size
    6,430 SF
    Property type
    Retail space
    APN
    92-06-02-580-203.000-004
    APU
    920602580203000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,030,000
      6.5%
      $950,000
      7%
      $885,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $758,000
      Market price range: $251k - $758k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $570,000
      RESTAURANT
      $545,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia City
    County
    Whitley
    State
    Indiana
    Longitude
    -85.4876
    Latitude
    41.1652
    CBSA code
    23060
    CBSA name
    FORT WAYNE, 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
    $8,919
    $47,100
    $348,300
    $395,400
    -
    $47,100
    $348,300
    $395,400

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      Van Buren St

      RETAIL STORES (PERSONAL SERVICES) • 0.15 Acres
      Van Buren St, Columbia City, IN 46725
      View Details
    • Value Estimation by Request
      768 SF

      3140 State Rd 109

      RETAIL STORES (PERSONAL SERVICES) • 768 SF
      3140 State Rd 109, Columbia City, IN 46725-8692
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    • Value Estimation by Request
      644 SF

      Maple Dr 57

      RETAIL STORES (PERSONAL SERVICES) • 644 SF
      Maple Dr 57, Columbia City, IN 46725
      View Details
    • Value Estimation by Request
      2,250 SF

      310 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
      310 Main St, Columbia City, IN 46725-2142
      View Details
    • Value Estimation by Request
      5,361 SF

      113 Van Buren St

      RETAIL STORES (PERSONAL SERVICES) • 5,361 SF
      113 Van Buren St, Columbia City, IN 46725-2109
      View Details
    • Value Estimation by Request
      1,300 SF

      609 Golden St

      RETAIL STORES (PERSONAL SERVICES) • 1,300 SF
      609 Golden St, Columbia City, IN 46725-8740
      View Details

    Similar Nearby for Sale

    • $189,000
      0.04 Acres

      Mixed-Use Retail Space with Apartment

      Retail space with apartment in downtown Columbia City, Indiana.
      207 W Van Buren St, Columbia City, IN 46725
      View Details
    • New
      $495,000
      13,500 SF

      Versatile Commercial Building in Columbia City

      Two-story commercial building with income potential in downtown Columbia City.
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    • $1,175,000
      7,920 SF

      Former Grocery and Gas Station

      7,920 SF commercial property on 4.72 acres in Columbia City.
      5418 S State Road 109, Columbia City, IN 46725
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    • $549,900
      0.17 Acres

      Commercial Property in Columbia City

      Commercial property approved for restaurant with duplex and convenience store potential.
      201 E Chicago St, Columbia City, IN 46725
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      Adaptable Commercial Building with Infrastructure

      Spacious commercial building with strong infrastructure and business potential.
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    • $1,625,000
      22,185 SF

      ALDI Leased Investment Opportunity

      Retail property with long-term lease in a dense retail corridor.
      551 North Line St, Columbia City, IN 46725
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,567 SF

      Retail Space Near US-30

      Retail space for lease near US-30 in Columbia City.
      539-541 N Line St, Columbia City, IN 46725
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    • $22 SF/Yr
      14,820 SF

      Retail Space on 1.47 Acres

      14,820 SF retail space for lease until July 2030.
      535 N Line St, Columbia City, IN 46725
      View Details
    • Contact for pricing
      11,319 SF

      Line Street Center Retail Space

      Columbia City, IN retail opportunity.
      531 Line St, Columbia City, IN 46725
      View Details
    • Contact for pricing
      1,516 SF

      Retail Space in Columbia City

      Retail space for lease in the heart of Columbia City.
      405 N Line St, Columbia City, IN 46725
      View Details
    • $12 SF/Yr

      Retail Space For Lease

      Retail space available in Columbia Plaza strip center off US 30.
      539 N Line St, Columbia City, IN 46725
      View Details
    • $825,000
      8,255 SF

      Columbia City Office Space Available

      8,255 SF office space in the heart of Columbia City.
      119 W Market St, Columbia City, IN 46725
      View Details
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    485 Main St
    Columbia City, IN 46725-1311
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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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