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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    658 Sky Aire NE Rd Corydon, IN 47112

    • Theaters & concert halls
    • 3,280 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    $195,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3048795
    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

    • Hursttown United Methodist Church / Methodist Church

    Property Details for 658 Sky Aire NE Rd

    Year built
    1980
    Construction
    WOOD
    Lot size
    0.60 lot acres
    Property size
    3,280 SF
    Property type
    Theaters & concert halls
    APN
    31-10-07-200-013.000-011
    APU
    311007200013000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $147,000
      Market price range: $65.6k - $328k

    • Alternative Use

      Use
      Estimation
      THEATER (MOVIE)
      $225,000
      Current use
      RETAIL STORES
      $250,000
      Change: +12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $240,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $215,000
      Change: -5% Conversion: Difficult
      WAREHOUSE, STORAGE
      $185,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Corydon
    County
    Harrison
    State
    Indiana
    Longitude
    -86.1135
    Latitude
    38.27
    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
    $0.00
    $15,400
    $70,200
    $85,600
    -
    $15,400
    $70,200
    $85,600

    Comparable in this City

    • Value Estimation
      $240,000
      1,240 SF

      Fairview Church Rd

      THEATER (MOVIE) • 1,240 SF
      Fairview Church Rd, Corydon, IN 47112
      View Details
    • Value Estimation
      $275,000
      7,238 SF

      216 Mulberry St

      THEATER (MOVIE) • 7,238 SF
      216 Mulberry St, Corydon, IN 47112-1214
      View Details
    • Value Estimation
      $245,000
      11,559 SF

      500 Shiloh SW Rd

      THEATER (MOVIE) • 11,559 SF
      500 Shiloh SW Rd, Corydon, IN 47112-5306
      View Details
    • Value Estimation
      $480,000
      31,094 SF

      1130 Dl Ave

      THEATER (MOVIE) • 31,094 SF
      1130 Dl Ave, Corydon, IN 47112-1930
      View Details
    • Value Estimation
      $275,000
      7,005 SF

      215 Chestnut St

      THEATER (MOVIE) • 7,005 SF
      215 Chestnut St, Corydon, IN 47112-1111
      View Details
    • Value Estimation
      $505,000
      22,842 SF

      141 Heidelberg NW Rd

      THEATER (MOVIE) • 22,842 SF
      141 Heidelberg NW Rd, Corydon, IN 47112-1812
      View Details

    Similar Nearby for Sale

    • $14,500,000

      Land at I-64 Exit

      Highly visible land suitable for retail or mixed-use development.
      & 135N Quarry Rd, Corydon, IN 47112
      View Details
    • New
      $65,000
      0.53 Acres

      Residential Land with City View

      Half-acre residential lot in Corydon, ready for development.
      Hwy 337 Hwy, Corydon, IN 47112
      View Details
    • $275,000
      0.18 Acres

      Historic Corydon Office Building

      Prime Downtown Office Space, Six Offices
      113 Oak St, Corydon, IN 47112
      View Details
    • $4,360,000

      Prime Corydon Commercial Land

      I-64 Exit Ramp, High Visibility
      6420 Corydon Ridge Rd, Corydon, IN 47112
      View Details
    • $59,000
      0.07 Acres

      Historic Corydon Industrial Building

      Prime Downtown Corydon Location, As-Is
      225 High St, Corydon, IN 47112
      View Details
    • $129,900

      Downtown Corydon Office/Garage Space

      Prime Location, Endless Potential!
      207 Walnut St, Corydon, IN 47112
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      5,000 SF

      Downtown Corydon Flex Space Available

      5,000 sq ft space suitable for office, spa, or flex.
      219 W High St, Corydon, IN 47112
      View Details
    • $4,800 /Mo
      106,722 SF

      Corydon, IN Retail Outlot

      2.45-acre retail land, multiple tenants
      2363 Old Highway 135, Corydon, IN 47112
      View Details
    • Contact for pricing
      2,864 SF

      Corydon, IN Retail Space Available

      Prime Retail Space, I-64 Corridor, High Traffic
      2421 Landmark Ave, Corydon, IN 47112
      View Details
    • $6 SF/Yr
      13,200 SF

      Office/Warehouse Building with Dock Door

      13,200 SF office/warehouse with dock and drive-in doors.
      480 Valley Rd, Corydon, IN 47112
      View Details
    • Contact for pricing
      10,125 SF

      Retail Space in Corydon Center

      10,125 SF retail space in high-traffic shopping center.
      389 Old Capital Plz NW, Corydon, IN 47112
      View Details
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    658 Sky Aire NE Rd
    Corydon, IN 47112
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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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