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    Property profile & analytics

    5155 State Rd 56 Salem, IN 47167-7063

    • Grocery and convenience stores
    • 5,724 SF
    • 0.87 lot acres
    OFF-MARKET
    Value Estimation
    $400,000
    Last Sale
    Dec 22, 2023
    Location Intelligence
    Property ID
    US31-1717022
    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

    • Grocery and convenience stores

    Property Details for 5155 State Rd 56

    Year built
    2004
    Construction
    WOOD
    Lot size
    0.87 lot acres
    Property size
    5,724 SF
    Property type
    Grocery and convenience stores
    APN
    88-25-06-000-051.000-004
    APU
    882506000051000004

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Washington
    State
    Indiana
    Longitude
    -86.0152
    Latitude
    38.6386
    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
    $4,313
    $19,300
    $216,000
    $235,300
    -
    $19,300
    $216,000
    $235,300

    Comparable in this City

    • Value Estimation
      $390,000
      735 SF

      1311 Hackberry St

      CONVENIENCE STORE • 735 SF
      1311 Hackberry St, Salem, IN 47167-9604
      View Details
    • Value Estimation
      $435,000
      10,804 SF

      105 Hugh Veteran Dr

      GROCERY, SUPERMARKET • 10,804 SF
      105 Hugh Veteran Dr, Salem, IN 47167-6909
      View Details
    • Value Estimation
      $435,000
      2,726 SF

      1322 Jackson St

      CONVENIENCE STORE • 2,726 SF
      1322 Jackson St, Salem, IN 47167-9168
      View Details
    • Value Estimation
      $395,000
      2,400 SF

      700 Main St

      CONVENIENCE STORE • 2,400 SF
      700 Main St, Salem, IN 47167-1042
      View Details
    • Value Estimation
      $370,000
      2,073 SF

      604 Hackberry St

      CONVENIENCE STORE • 2,073 SF
      604 Hackberry St, Salem, IN 47167-2216
      View Details
    • Value Estimation
      $350,000
      1,725 SF

      1306 Mulberry St

      CONVENIENCE STORE • 1,725 SF
      1306 Mulberry St, Salem, IN 47167-9433
      View Details

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      Prime Salem Retail Space - High Visibility

      Large commercial property, multiple buildings, high traffic area.
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      Prime Downtown Retail Space, Huge Potential
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    Salem, IN 47167-7063
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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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