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    6030 E State Road 16 Monticello, IN 47960
    Property profile & analytics

    6030 E State Road 16, Monticello, IN 47960

    View on Map
    • Outlet malls
    • 9,354 SF
    • 2.48 lot acres
    For Sale
    $1,156,714
    View Listing →
    Monticello Dollar General Investment Property For Sale
    $1,156,714
    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 Listing
    Property ID
    US31-2883846
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 6030 E State Road 16

    Year built
    2019
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.48 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    91-83-15-000-007.516-010
    APU
    918315000007516010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $790,000
      Current use
      MEDICAL BUILDING
      $845,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $795,000
      Change: +0% Conversion: Easy
      AUTO REPAIR, GARAGE
      $700,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    White
    State
    Indiana
    Longitude
    -86.7553
    Latitude
    40.8833

    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
    $2,866
    $22,900
    $307,000
    $329,900
    -
    $22,900
    $307,000
    $329,900

    Comparable in this City

    • Value Estimation
      $7,885,000
      152,012 SF

      1088 Broadway St

      WHOLESALE OUTLET, DISCOUNT STORE
      1088 Broadway St, Monticello, IN 47960-1816
      View Details
    • Value Estimation
      $645,000
      7,225 SF

      1107 Broadway St

      WHOLESALE OUTLET, DISCOUNT STORE
      1107 Broadway St, Monticello, IN 47960-1818
      View Details
    • Value Estimation
      $770,000
      9,130 SF

      910 Main St

      WHOLESALE OUTLET, DISCOUNT STORE
      910 Main St, Monticello, IN 47960-2533
      View Details
    • Value Estimation
      $2,595,000
      96,760 SF

      1004 Main St

      WHOLESALE OUTLET, DISCOUNT STORE
      1004 Main St, Monticello, IN 47960-1503
      View Details
    • Value Estimation by Request
      26,984 SF

      509 Main St

      SHOPPING CENTER, STRIP CENTER
      509 Main St, Monticello, IN 47960-1934
      View Details
    • Value Estimation by Request
      9,023 SF

      126 Main St, Unit 134

      SHOPPING CENTER, STRIP CENTER
      126 Main St, Monticello, IN 47960-2129
      View Details

    Similar Nearby for Sale

    • $1,156,714

      Monticello Dollar General Investment Property

      NNN leased Dollar General in Monticello, Indiana tourist destination.
      6030 E State Road 16, Monticello, IN 47960
      View Details
    • $995,000
      0.63 Acres

      High-Traffic Retail Opportunity

      Prime retail location with high visibility and ample parking.
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    • $439,000
      4,376 SF

      Leased Retail Property on US Hwy

      Income-producing retail property in Monticello, fully leased through 2028.
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    • Contact for pricing
      1,100 SF

      Gas Station Expansion Opportunity

      Operating gas station with approved expansion plans in Monticello, Indiana.
      843 North Main St, Monticello, IN 47960
      View Details
    • $60,000
      0.71 Acres

      Monticello Commercial Land Opportunity

      B-2 zoned lot in a growing Monticello area.
      Foxwood Lot 4 Ct, Monticello, IN 47960
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    • $239,900
      0.44 Acres

      Lake Shafer Residential Land Opportunity

      Lakefront lots for custom homes with water access and utilities.
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    Similar Nearby for Lease

    • $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
    • $2,500 /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
    • Contact for pricing

      Retail Space on Broadway Street

      1,642 SF retail space in established Monticello strip center.
      1110 W Broadway 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
    View Listing
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    Monticello, IN 47960
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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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    6030 E State Road 16, Monticello, IN, 47960
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