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    Property profile & analytics

    601 College Ave Vincennes, IN 47591

    • Retail space
    • 7,034 SF
    • 0.23 lot acres
    For Lease
    View listing
    Value Estimations
    $345,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1082883
    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

    • Little Caesars Pizza / Pizza Delivery / Pizza Takeout
    • Family Video / Video Game Rental Store / Vitamin & Supplements Store

    Property Details for 601 College Ave

    Year built
    2004
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.23 lot acres
    Property size
    7,034 SF
    Property type
    Retail space
    APN
    42-12-21-115-045.000-022
    APU
    421221115045000022

    Description

    This exceptional 7,046 square foot retail strip center, located at 601 N. College Ave in Vincennes, Indiana, presents a remarkable leasing opportunity. The property boasts a prominent location with high visibility and ample parking for 38 vehicles, ensuring convenient access for customers. Currently, 5,846 square feet of space is available, offering significant potential for a variety of retail or commercial uses. The adaptable layout allows for efficient floor planning and customizable interiors to suit individual business needs. The modern exterior and amenities create a professional and inviting atmosphere, designed to attract substantial foot traffic and enhance brand exposure. The property sits on a 0.63-acre lot, providing ample space and visibility. This is an ideal location for businesses seeking a strong presence in the thriving Vincennes market, benefiting from the high traffic volume and convenient access afforded by its strategic placement. The property's modern design and flexible layout make it an excellent choice for businesses looking to establish a successful and visible presence in the community. Don't miss this chance to secure a prime retail space in a vibrant Indiana city. The zip code is 47591.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Vincennes
    County
    Knox
    State
    Indiana
    Longitude
    -87.5204
    Latitude
    38.6816
    CBSA code
    47180
    CBSA name
    VINCENNES, 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
    $12,436
    $27,100
    $381,400
    $408,500
    -
    $27,100
    $381,400
    $408,500

    Comparable in this City

    • Value Estimation
      $280,000
      3,600 SF

      1604 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      1604 Main St, Vincennes, IN 47591-6240
      View Details
    • Value Estimation
      $275,000
      768 SF

      405 Main St

      RETAIL STORES (PERSONAL SERVICES) • 768 SF
      405 Main St, Vincennes, IN 47591-2045
      View Details
    • Value Estimation
      $275,000
      508 SF

      516 Main St

      RETAIL STORES (PERSONAL SERVICES) • 508 SF
      516 Main St, Vincennes, IN 47591-2008
      View Details
    • Value Estimation
      $285,000
      2,356 SF

      925 10th St

      RETAIL STORES (PERSONAL SERVICES) • 2,356 SF
      925 10th St, Vincennes, IN 47591-3135
      View Details
    • Value Estimation
      $275,000
      1,104 SF

      1402 15th St

      RETAIL STORES (PERSONAL SERVICES) • 1,104 SF
      1402 15th St, Vincennes, IN 47591-4102
      View Details
    • Value Estimation
      $290,000
      1,258 SF

      1617 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 1,258 SF
      1617 2nd St, Vincennes, IN 47591-2422
      View Details

    Similar Nearby for Sale

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    • $350,000
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      Established Restaurant/Bar in Vincennes, IN

      Restaurant/bar with recent upgrades and social media following for sale.
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      Historic Bar and Event Space

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    Similar Nearby for Lease

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      Retail Space in Knox Plaza

      Retail space available in high-visibility Vincennes shopping center.
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      Kimmell Plaza Retail Center

      Vincennes, IN Strip Center - 1 Space Available
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      View Details
    • Contact for pricing
      7,046 SF

      Vincennes Retail Center - Prime Location

      High-Visibility Retail Space Available in Indiana
      601 College Ave, Vincennes, IN 47591
      View Details
    • $15 SF/Yr
      44,962 SF

      Kimmell Crossing Retail Space

      Vincennes Retail Center: 4,800 SF Available
      648 Kimmell Rd, Vincennes, IN 47591
      View Details
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    Vincennes, IN 47591
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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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