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

    515 Railroad St Monticello, IN 47960-1943

    • Auto shops
    • 9,880 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1688737
    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

    • Auto shops

    Property Details for 515 Railroad St

    Year built
    2003
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    9,880 SF
    Property type
    Auto shops
    APN
    91-73-33-000-082.700-021
    APU
    917333000082700021

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $739,000
      Market price range: $303k - $1.04M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $740,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,055,000
      Change: +43% Conversion: Easy
      MEDICAL BUILDING
      $895,000
      Change: +21% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $840,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $835,000
      Change: +13% Conversion: Difficult
      WAREHOUSE, STORAGE
      $610,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    White
    State
    Indiana
    Longitude
    -86.7644
    Latitude
    40.7506

    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,048 SF

      701 Dewey St

      AUTO REPAIR, GARAGE • 2,048 SF
      701 Dewey St, Monticello, IN 47960
      View Details
    • Value Estimation by Request
      2,688 SF

      953 Hanawalt Rd

      AUTO REPAIR, GARAGE • 2,688 SF
      953 Hanawalt Rd, Monticello, IN 47960-1828
      View Details
    • Value Estimation
      $860,000
      12,773 SF

      114 8th St

      AUTO REPAIR, GARAGE • 12,773 SF
      114 8th St, Monticello, IN 47960-1783
      View Details
    • Value Estimation by Request
      3,450 SF

      111 Northwestern Ave

      AUTO REPAIR, GARAGE • 3,450 SF
      111 Northwestern Ave, Monticello, IN 47960-1572
      View Details
    • Value Estimation by Request
      15,220 SF

      12209 1200th W

      AUTO REPAIR, GARAGE • 15,220 SF
      12209 1200th W, Monticello, IN 47960-2789
      View Details
    • Value Estimation by Request
      19,306 SF

      321 Main St

      AUTO REPAIR, GARAGE • 19,306 SF
      321 Main St, Monticello, IN 47960-2134
      View Details

    Similar Nearby for Sale

    • $1,199,500
      9,363 SF

      Monticello Dollar General Investment Property

      NNN leased Dollar General in Monticello, Indiana tourist destination.
      6030 E State Road 16, Monticello, IN 47960
      View Details
    • $1,100,000
      2.86 Acres

      Turnkey Business Package in Monticello

      Three businesses, three buildings, and three storage units included.
      1514 N 6Th St, Monticello, IN 47960
      View Details
    • $499,000
      4,500 SF

      High-Traffic Monticello Retail Center

      Profitable, Turnkey Retail Space
      12150 Us Highway 421, Monticello, IN 47960
      View Details
    • $69,999
      0.31 Acres

      Lake Shafer Land with Water Access

      Interior lots with shared access to Lake Shafer.
      2127 Deepwater Lot 3 Loop, Monticello, IN 47960
      View Details
    • $119,900
      3.01 Acres

      Land Near Lake Shafer

      3.01 acres with lake views and multiple potential uses.
      4967 N Boxman Pl, Monticello, IN 47960
      View Details
    • $229,999
      0.30 Acres

      Lake Shafer Residential Land Opportunity

      Lakefront lots for custom homes with water access and utilities.
      2085 Deepwater Lot 10 Loop, Monticello, IN 47960
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,440 SF

      Downtown Retail & Office Space

      Retail and office space in downtown Lafayette with prime frontage.
      623 S Main St, Monticello, IN 47960
      View Details
    • $2,500 /Mo
      4,260 SF

      Monticello Restaurant/Bar Opportunity

      4,260 SF restaurant/bar space available for rent in Monticello.
      912 S Main St, Monticello, IN 47960
      View Details
    • $8 SF/Yr
      11,100 SF

      R&J Plaza: Monticello Retail Space

      High-exposure retail space available in prime location.
      1017 6Th St, Monticello, IN 47960
      View Details
    • $2,000 /Mo
      1,827 SF

      Downtown Monticello Office Space

      1,827 SF office space for rent in Monticello.
      116 Constitution Plz, Monticello, IN 47960
      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 Railroad St
    Monticello, IN 47960-1943
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.