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    Property profile & analytics

    501 7th St Richmond, IN 47374-6116

    • Office Properties & Spaces
    • 30,000 SF
    • 0.58 lot acres
    OFF-MARKET
    Value Estimation
    $525,000
    Location Intelligence
    Property ID
    US31-1567172
    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

    • LifeSpring Church South / Wesleyan Church / Christian Church
    • Saint Johns Church / Church
    • The NEST - Maternal Treatment Program / Addiction Treatment Center
    • Emily Hart / Nurse Practitioner
    • Youth As Resources-Wayne County / Youth Organization

    Property Details for 501 7th St

    Year built
    1844
    Construction
    WOOD
    Lot size
    0.58 lot acres
    Property size
    30,000 SF
    Zone code
    ZO01
    Property type
    Office Properties & Spaces
    APN
    89-18-05-420-415.000-030
    APU
    891805420415000030

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $540,000

    • CAP approach

      CAP return
      Estimation
      6%
      $530,000
      6.5%
      $565,000
      7%
      $550,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $570,000
      Geo Method
      $575,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $495,000
      Retail
      $580,000
      Mixed-Use
      $445,000
      Hospitality
      $520,000
      Educational
      $445,000
      Residential Income
      $610,000
      Energy
      $485,000
      Income-Based Land
      $585,000
      Food Service
      $550,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.8926
    Latitude
    39.8213
    CBSA code
    39980
    CBSA name
    RICHMOND, IN MICROPOLITAN 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
    2022
    $0.00
    $42,900
    $805,100
    $848,000
    -
    $42,900
    $805,100
    $848,000

    Comparable in this City

    • Value Estimation by Request
      17,744 SF

      609 National W Rd

      OFFICE (GENERAL) • 17,744 SF
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    • Value Estimation by Request
      1,950 SF

      1010 9th St

      OFFICE (GENERAL) • 1,950 SF
      1010 9th St, Richmond, IN 47374-6239
      View Details
    • Value Estimation by Request
      300 SF

      1521 St

      OFFICE (GENERAL) • 300 SF
      1521 St, Richmond, IN 47374-3353
      View Details
    • Value Estimation by Request
      3,840 SF

      2810 Sese Pkwy

      OFFICE (GENERAL) • 3,840 SF
      2810 Sese Pkwy, Richmond, IN 47374-5857
      View Details
    • Value Estimation by Request
      45,055 SF

      1215 J St

      OFFICE (GENERAL) • 45,055 SF
      1215 J St, Richmond, IN 47374-6369
      View Details
    • Value Estimation by Request
      55,722 SF

      60 L St

      OFFICE (GENERAL) • 55,722 SF
      60 L St, Richmond, IN 47374-2100
      View Details

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    Similar Nearby for Lease

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    501 7th St
    Richmond, IN 47374-6116
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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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