Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    515 53rd St Anderson, IN 46013-1724
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 53rd St Anderson, IN 46013-1724

    View on Map
    • Specialty properties
    • 21,486 SF
    • 12.00 lot acres
    Off-Market
    Last Sale Jun 14, 2024
    Property ID
    US31-1265129
    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.
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bozell Funeral Homes - Brown Butz & Diedring Chapel / Social Service Agency
    • Tabernaculo Adoracion Familiar Alpha Church / Church

    Property Details for 515 53rd St

    Year built
    1991
    Construction
    WOOD
    Lot size
    12.00 lot acres
    Property size
    21,486 SF
    Property type
    Specialty properties
    APN
    48-12-31-200-023.000-003
    APU
    481231200023000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $665,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $850,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Madison
    State
    Indiana
    Longitude
    -85.6723
    Latitude
    40.0598
    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
    $44,627
    $206,700
    $1,177,100
    $1,383,800
    -
    $206,700
    $1,177,100
    $1,383,800

    Comparable in this City

    • Value Estimation by Request
      0.03 Acres

      600 Pkwy Dr

      CHARITABLE ORGANIZATION • 0.03 Acres
      600 Pkwy Dr, Anderson, IN 46013-3254
      View Details
    • Value Estimation by Request
      0.05 Acres

      600 Pkwy Dr

      CHARITABLE ORGANIZATION • 0.05 Acres
      600 Pkwy Dr, Anderson, IN 46013-3254
      View Details
    • Value Estimation by Request
      1.99 Acres

      600 Pkwy Dr

      CHARITABLE ORGANIZATION • 1.99 Acres
      600 Pkwy Dr, Anderson, IN 46013-3254
      View Details
    • Value Estimation by Request
      0.21 Acres

      4635 Scatterfield Rd

      CHARITABLE ORGANIZATION • 0.21 Acres
      4635 Scatterfield Rd, Anderson, IN 46013-2905
      View Details
    • Value Estimation by Request
      0.12 Acres

      1125 38th St

      CHARITABLE ORGANIZATION • 0.12 Acres
      1125 38th St, Anderson, IN 46013-5331
      View Details
    • Value Estimation by Request
      0.94 Acres

      630 53rd St

      CHARITABLE ORGANIZATION • 0.94 Acres
      630 53rd St, Anderson, IN 46013-1512
      View Details

    Similar Nearby for Sale

    • $409,000
      1,756 SF

      Commercial Property on High-Traffic Corner

      Commercial property on 1.07 acres at a busy intersection.
      1601 E 53Rd St, Anderson, IN 46013
      View Details
    • $3,497,000

      Retail Property on Scatterfield Road

      Retail property with limited landlord responsibilities in Anderson, Indiana.
      6818 S Scatterfield Rd, Anderson, IN 46013
      View Details
    • $150,000
      0.91 Acres

      Commercial Land in Anderson, Indiana

      0.911 acre commercial parcel at 5330 Dr. MLK Blvd.
      5330 Dr Martin Luther King Jr Blvd, Anderson, IN 46013
      View Details
    • Contact for pricing

      Land Ready for Rezoning

      Agricultural land suitable for commercial or industrial rezoning.
      6225 S Scatterfield Rd, Anderson, IN 46013
      View Details
    • Contact for pricing

      3.94 Acres Industrial Land Available

      3.94 acres of industrial land in Certified Technology Park.
      3040 Enterprise Dr, Anderson, IN 46013
      View Details
    • Contact for pricing

      Prime Land in Anderson, Indiana

      123 acres suitable for commercial or residential development.
      4221 S New Columbus Rd, Anderson, IN 46013
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      117,206 SF

      701,000 SF Retail Space Available

      Retail space available in Anderson, Indiana shopping center.
      4420 South Scatterfield Rd, Anderson, IN 46013
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Anderson, Indiana

      Retail space available in grocery-anchored shopping center.
      5335 S Scatterfield Rd, Anderson, IN 46013
      View Details
    • $13 SF/Yr
      32,586 SF

      Flexible Office Space Available

      15,070 SF office space for lease in Anderson, IN.
      2903 Enterprise Dr, Anderson, IN 46013
      View Details
    • $1,575 /Mo
      6,000 SF

      Endcap Unit Near Interstate 69

      Endcap unit in high-traffic area near I-69 in Anderson, IN.
      5330 Doctor M.l.k. Jr Blvd, Anderson, IN 46013
      View Details
    • Contact for pricing

      Retail Spaces and Commercial Land

      Retail spaces and commercial land available for rent.
      Exit 222 & I-690 Enterprise Park, Anderson, IN 46013
      View Details
    • $975 /Mo

      Office Space For Lease

      Office space for lease with utilities included near 53rd.
      5213 Columbus Ave, Anderson, IN 46013
      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.
    515 53rd St
    Anderson, IN 46013-1724
    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.
    Sign Up Successful!
    You now have access to more from Realmo!