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    Property profile & analytics

    5 Franklin 1st N Main St Spencer, IN 47460

    • Turn key restaurants
    • 4,398 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimation
    $310,000
    Location Intelligence
    Property ID
    US31-1331877
    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

    • Turn key restaurants

    Property Details for 5 Franklin 1st N Main St

    Year built
    1865
    Construction
    WOOD
    Lot size
    0.05 lot acres
    Property size
    4,398 SF
    Property type
    Turn key restaurants
    APN
    60-10-20-400-400.609-028
    APU
    601020400400609028

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Owen
    State
    Indiana
    Longitude
    -86.7628
    Latitude
    39.2862
    CBSA code
    14020
    CBSA name
    BLOOMINGTON, 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
    $4,362
    $6,800
    $194,200
    $201,000
    -
    $6,800
    $194,200
    $201,000

    Comparable in this City

    • Value Estimation
      $335,000
      2,088 SF

      404 Morgan St

      RESTAURANT • 2,088 SF
      404 Morgan St, Spencer, IN 47460-1542
      View Details
    • Value Estimation
      $205,000
      352 SF

      2411 Riv Rd

      RESTAURANT • 352 SF
      2411 Riv Rd, Spencer, IN 47460-6716
      View Details
    • Value Estimation by Request
      6,016 SF

      154 Main St

      RESTAURANT • 6,016 SF
      154 Main St, Spencer, IN 47460-1732
      View Details
    • Value Estimation
      $350,000
      7,114 SF

      72 Market St

      RESTAURANT • 7,114 SF
      72 Market St, Spencer, IN 47460-1736
      View Details
    • Value Estimation
      $305,000
      3,776 SF

      3 Franklin St

      RESTAURANT • 3,776 SF
      3 Franklin St, Spencer, IN 47460-1723
      View Details
    • Value Estimation
      $355,000
      4,077 SF

      405 Franklin St

      RESTAURANT • 4,077 SF
      405 Franklin St, Spencer, IN 47460-1823
      View Details

    Similar Nearby for Sale

    • $294,900
      0.10 Acres

      Commercial Space Near Downtown Spencer

      4,600 SF commercial space ideal for food production/retail.
      127 S Main St, Spencer, IN 47460
      View Details
    • $279,900
      0.18 Acres

      Spencer Warehouse with Showroom Space

      Warehouse with showroom, loading dock, and recent upgrades in Spencer.
      56 E Jefferson St, Spencer, IN 47460
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    • Contact for pricing
      1.35 Acres

      Residential Land with Lake Access

      Wooded 1.35-acre lot with utilities and lake access.
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    • $550,000
      2.86 Acres

      Commercial Land in Spencer, Indiana

      2.861-acre commercial land available in Spencer, Indiana.
      46 W Hwy, Spencer, IN 47460
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    • $680,000
      6,996 SF

      Multifamily Investment Opportunity in Spencer

      Two fiveplex buildings near downtown Spencer, Indiana, with strong rental income.
      80 W Jefferson St, Spencer, IN 47460
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    • New
      $87,500
      5.00 Acres

      5-Acre Wooded Residential Land

      5-acre wooded parcel ready for a custom home.
      6 Hudson Hill Rd, Gosport, IN 47460
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    Spencer, IN 47460
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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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