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

    505 Touring Dr Auburn, IN 46706-2054

    • Outlet malls
    • 180,835 SF
    • 18.82 lot acres
    OFF-MARKET
    Value Estimations
    $4,850,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1041508
    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

    • Walmart Home Theater Installation / Home Cinema Installation
    • Coinstar / Money Transfer Service
    • Ria Money Transfer - Walmart / Money Transfer Service
    • Walmart Pet Services / Pet Sitter
    • Walmart Patio & Garden Services / Landscaper

    Property Details for 505 Touring Dr

    Year built
    1997
    Construction
    TYPE NOT SPECIFIED
    Lot size
    18.82 lot acres
    Property size
    180,835 SF
    Property type
    Outlet malls
    APN
    17-05-36-200-019.000-012
    APU
    170536200019000012

    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
    Auburn
    County
    Dekalb
    State
    Indiana
    Longitude
    -85.0803
    Latitude
    41.3629
    CBSA code
    12140
    CBSA name
    AUBURN, 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
    2023
    $202,282
    $1,073,900
    $6,627,500
    $7,701,400
    -
    $1,073,900
    $6,627,500
    $7,701,400

    Comparable in this City

    • Value Estimation
      $2,830,000
      95,148 SF

      403 Smaltz Way

      WHOLESALE OUTLET, DISCOUNT STORE • 95,148 SF
      403 Smaltz Way, Auburn, IN 46706-9585
      View Details
    • Value Estimation
      $705,000
      9,100 SF

      433 7th St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,100 SF
      433 7th St, Auburn, IN 46706-1620
      View Details
    • Value Estimation
      $3,665,000
      24,069 SF

      1218 15th St307

      SHOPPING CENTER, STRIP CENTER • 24,069 SF
      1218 15th St307, Auburn, IN 46706-2070
      View Details
    • Value Estimation
      $2,560,000
      16,960 SF

      531 Grandstaff Dr, Unit 581

      SHOPPING CENTER, STRIP CENTER • 16,960 SF
      531 Grandstaff Dr, Auburn, IN 46706-1682
      View Details
    • Value Estimation
      $2,100,000
      13,869 SF

      217 219221st N Main 107115th W 5th St

      SHOPPING CENTER, STRIP CENTER • 13,869 SF
      217 219221st N Main 107115th W 5th St, Auburn, IN 46706
      View Details
    • Value Estimation
      $4,850,000
      32,600 SF

      1030 7th St

      SHOPPING CENTER, STRIP CENTER • 32,600 SF
      1030 7th St, Auburn, IN 46706-2015
      View Details

    Similar Nearby for Sale

    • $2,177,000
      12,480 SF

      Dollar General Market For Sale

      Upgraded 12,480 SF Dollar General Market in Auburn, IN.
      1218 State Road 8, Auburn, IN 46706
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    • $499,900
      0.88 Acres

      Auburn Mixed-Use Commercial Opportunity

      Two buildings on 0.88 acres near downtown Auburn, Indiana.
      1712 South Wayne Ave, Auburn, IN 46706
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    • $225,000
      18,332 SF

      Auburn Office Condos For Sale

      Six Units, 18,332 sq ft, Great Location
      1326-1350 Grandstaff Dr, Auburn, IN 46706
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    • $1,789,360
      2.00 Acres

      Auburn Industrial Land - I-69 Corridor

      Three lots, prime industrial land, Auburn, IN.
      7th St & Touring Dr, Auburn, IN 46706
      View Details
    • $2,650,000
      3.76 Acres

      3.76 Acres Interstate Location

      Commercial land with water and sewer available near I-69.
      00 I-69&Cr 11A Rd, Auburn, IN 46706
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    • $225,000
      2,304 SF

      Auburn Professional Village Office Condo

      Office condos for sale in Auburn Professional Village.
      1348 South Grandstaff Dr, Auburn, IN 46706
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    Similar Nearby for Lease

    • $8 SF/Yr
      4,816 SF

      Retail Space Near I-69

      Professionally managed retail space with ample parking and signage.
      1016 W 7Th St, Auburn, IN 46706
      View Details
    • $13 SF/Yr
      3,168 SF

      Retail Space Near I-69

      Retail space in well-trafficked corridor near I-69 and major retailers.
      1031-1077 Smaltz Way, Auburn, IN 46706
      View Details
    • $25 SF/Yr
      7,050 SF

      Auburn Strip Mall - Prime Location

      7,050 SF Retail Center, 3 Suites Available
      406 Smaltz Way, Auburn, IN 46706
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in Kroger Plaza

      Retail spaces available in Kroger anchored Auburn Plaza.
      1015-1047 W 7Th St, Auburn, IN 46706
      View Details
    • $11 SF/Yr
      1,140 SF

      Retail Space in Updated Center

      Retail space available in well-maintained shopping center near downtown.
      201-293 N Duesenberg Dr, Auburn, IN 46706
      View Details
    • $22 SF/Yr
      2,016 SF

      Auburn Retail Space - Prime Location

      Versatile 2,016 sq ft retail/office space
      403 Erie Pass, Auburn, IN 46706
      View Details

    Property Visit Statistics

    • Visits by month
      215.2k
    • Visitors by month
      76.0k
    • Avg Time on site
      32 min
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    Auburn, IN 46706-2054
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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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