Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    510 Spring St Jeffersonville, IN 47130

    • Office Properties & Spaces
    • 13,801 SF
    • 1.00 lot acres
    For Sale
    View listing
    $18
    Last Sale
    Apr 27, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1932458
    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

    • Elizabeth Smoot / Physician
    • Anna Reyes-Crawhorn / Physician
    • Audra Summers / Physician
    • Jennifer Parr / Physician
    • Mary Mcandrews / Physician

    Property Details for 510 Spring St

    Year built
    1940
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.00 lot acres
    Property size
    13,801 SF
    Property type
    Office Properties & Spaces
    APN
    10-19-00-101-450.000-010
    APU
    101900101450000010

    Description

    This exceptional 13,801-square-foot commercial property at 510 Spring Street in Jeffersonville, Indiana, presents a unique investment opportunity. Built in 1970, this two-story building features a single tenancy and is situated on one acre of land. The property includes an elevator and boasts a prime location in a historic district, potentially qualifying for tax credits. Located minutes from downtown Jeffersonville and the riverfront, it offers easy access to the vibrant restaurant and retail scene. A short 10-minute drive takes you to Louisville's NULU and Butchertown neighborhoods. The building's frontage benefits from a city-maintained park. The seller is open to build-to-suit options, and additional parcels behind the building may be included in the sale. Architectural plans for a potential Airbnb conversion are also available. The CD zoning allows for diverse uses, including retail, restaurant, office, medical, or even high-end boutique apartments. This property combines historic charm with significant potential for a variety of commercial ventures. The property's APN is 13,801.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,125,000
      Market price range: $676k - $1.97M
      AI Estimate
      $1,045,000
      Market price range: $438k - $1.93M

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

    Location Insight

    • Map
    • Local Demand
    City
    Jeffersonville
    County
    Clark
    State
    Indiana
    Longitude
    -85.7425
    Latitude
    38.275
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-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
    $21,317
    $189,700
    $534,700
    $724,400
    -
    $189,700
    $534,700
    $724,400

    Comparable in this City

    • Value Estimation by Request
      1,342 SF

      321 Market St

      Office Properties & Spaces • 1,342 SF
      321 Market St, Jeffersonville, IN 47130
      View Details
    • Value Estimation
      $25,085,000
      303,047 SF

      1220 Missouri Ave

      OFFICE (GENERAL) • 303,047 SF
      1220 Missouri Ave, Jeffersonville, IN 47130-3725
      View Details
    • Value Estimation by Request
      2,912 SF

      424 Wall St

      OFFICE (GENERAL) • 2,912 SF
      424 Wall St, Jeffersonville, IN 47130-3428
      View Details
    • Value Estimation
      $4,540,000
      54,000 SF

      6200 Hwy 62nd, Unit 100

      OFFICE (GENERAL) • 54,000 SF
      6200 Hwy 62nd, Jeffersonville, IN 47130-8769
      View Details
    • Value Estimation
      $2,430,000
      17,003 SF

      2326 Veterans Pkwy

      OFFICE (GENERAL) • 17,003 SF
      2326 Veterans Pkwy, Jeffersonville, IN 47130-7116
      View Details
    • Value Estimation
      $3,345,000
      26,278 SF

      1111 Allison Ln

      OFFICE (GENERAL) • 26,278 SF
      1111 Allison Ln, Jeffersonville, IN 47130-5314
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Jeffersonville Office Space - Downtown

      Renovated Office, Prime Location, All Utilities Included
      360 Spring St, Jeffersonville, IN 47130
      View Details
    • Contact for pricing
      1,342 SF

      Downtown Jeffersonville Office Space

      Prime Office, Event Space, Great Location
      321 Market St, Jeffersonville, IN 47130
      View Details
    • $3,000,000
      1.17 Acres

      Jeffersonville Gateway Commercial Lots

      Prime IN land, retail & office potential
      10th St & Spg St, Jeffersonville, IN 47130
      View Details
    • Contact for pricing
      4,000 SF

      Jeffersonville Office Space - Downtown

      Prime Downtown Jeffersonville Office, 4000 sqft
      360 Spring St, Jeffersonville, IN 47130
      View Details
    • $475,000
      11,052 SF

      Jeffersonville Executive Office Building

      11,052 SF Office Building, $475,000
      3008 Middle Rd, Jeffersonville, IN 47130
      View Details
    • $388,900

      Jeffersonville Commercial Building For Sale

      Freestanding building suitable for retail, office, or investment.
      1302 E 10Th St, Jeffersonville, IN 47130
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      214,450 SF

      Jeffersonville Town Center Investment

      Prime Retail & Office Space, Southern Indiana
      0 Town Ctr Blvd And Veterans Pkwy, Jeffersonville, IN 47130
      View Details
    • $24 SF/Yr
      1,342 SF

      Jeffersonville Office Space - Historic Charm

      Historic Downtown Office, 1342 sq ft, 8 parking spaces.
      321 Market St, Jeffersonville, IN 47130
      View Details
    • $16 SF/Yr
      22,000 SF

      Wall Street Medical Office Suites

      Prime Jeffersonville medical space available.
      1035 Wall St, Jeffersonville, IN 47130
      View Details
    • $475,000
      1,200 SF

      Jeffersonville Office Space For Lease

      Office suite with reception, offices, and conference room available.
      3008 Middle Rd, Jeffersonville, IN 47130
      View Details
    • $16 SF/Yr
      1,140 SF

      Versatile Retail/Office Space Available

      Located near government building, suitable for office, retail, or medical.
      228 E Court Ave, Jeffersonville, IN 47130
      View Details
    • $3,700 /Mo
      3,000 SF

      Downtown Jeffersonville Office Space

      Office space in the heart of Downtown Jeffersonville.
      431 E Court Ave, Jeffersonville, IN 47130
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    510 Spring St
    Jeffersonville, IN 47130
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.