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    Property profile & analytics

    502 Park Ave Alexandria, IN 46001-2433

    • Retail space
    • 1,152 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimation
    $305,000
    Location Intelligence
    Property ID
    US31-3518630
    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

    • Rick Davidson - State Farm Insurance Agent / Renter'S Insurance Agency / Insurance Agency
    • State Farm / Renter'S Insurance Agency

    Property Details for 502 Park Ave

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.21 lot acres
    Property size
    1,152 SF
    Property type
    Retail space
    APN
    48-05-24-104-025.000-022
    APU
    480524104025000022

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $280,000

    • CAP approach

      CAP return
      Estimation
      6%
      $345,000
      6.5%
      $345,000
      7%
      $325,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $375,000
      Geo Method
      $365,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $360,000
      Retail
      $430,000
      Mixed-Use
      $390,000
      Hospitality
      $450,000
      Educational
      $430,000
      Residential Income
      $360,000
      Energy
      $410,000
      Income-Based Land
      $350,000
      Food Service
      $380,000

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Madison
    State
    Indiana
    Longitude
    -85.6718
    Latitude
    40.2582
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, 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
    $2,483
    $10,400
    $63,800
    $74,200
    -
    $10,400
    $63,800
    $74,200

    Comparable in this City

    • Value Estimation by Request
      1,276 SF

      112 Church St

      RETAIL STORES (PERSONAL SERVICES) • 1,276 SF
      112 Church St, Alexandria, IN 46001-2006
      View Details
    • Value Estimation by Request
      5,236 SF

      125 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 5,236 SF
      125 Washington St, Alexandria, IN 46001-1809
      View Details
    • Value Estimation
      $305,000
      2,400 SF

      1413 Park Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      1413 Park Ave, Alexandria, IN 46001-1466
      View Details
    • Value Estimation
      $310,000
      2,080 SF

      115 Park Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,080 SF
      115 Park Ave, Alexandria, IN 46001-2060
      View Details
    • Value Estimation
      $360,000
      12,168 SF

      111 Washington St

      RETAIL STORES (PERSONAL SERVICES) • 12,168 SF
      111 Washington St, Alexandria, IN 46001-1809
      View Details
    • Value Estimation by Request
      3,272 SF

      201 Cleveland St

      RETAIL STORES (PERSONAL SERVICES) • 3,272 SF
      201 Cleveland St, Alexandria, IN 46001-1026
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Retail space available for sale in Alexandria, Indiana.
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      2,072 SF

      Restaurant/Bar Opportunity in Alexandria, IN

      Restaurant/bar with transferable liquor license and updated features for sale.
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      Retail Property in Alexandria, IN

      Retail property for sale in Alexandria, Indiana.
      2205 S Park Ave, Alexandria, IN 46001
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    • $270,000
      8,800 SF

      Industrial Flex Space For Sale

      8,800 SF industrial flex space with outdoor storage.
      8237 N State Road 9, Alexandria, IN 46001
      View Details
    • $195,000
      15.68 Acres

      Alexandria Industrial Land - $195K

      15.68 Acres, I-1 Zoning, Rail Access
      300 Indiana Ave, Alexandria, IN 46001
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    • $295,000
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      Well-Maintained Office Building For Sale

      Attractive office building with parking and convenient access.
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    Similar Nearby for Lease

    • $9 SF/Yr
      10,049 SF

      Prime Alexandria Retail Space

      1,896 SF Storefront Available Now
      1111 Park Ave, Alexandria, IN 46001
      View Details
    • $2,572 /Mo
      2,400 SF

      Office Space Available For Rent

      Office space available for lease in Alexandria, Indiana.
      2211 S Park Ave, Alexandria, IN 46001
      View Details
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    502 Park Ave
    Alexandria, IN 46001-2433
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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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