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    6687 County Rd 400th E Seymour, IN 47274-8902
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    6687 County Rd 400th E Seymour, IN 47274-8902

    View on Map
    • Office properties & Spaces
    • 37,403 SF
    • 0.31 lot acres
    Off-Market
    Property ID
    US31-2511131
    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
    $2,675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cortland Elementary School / High School

    Property Details for 6687 County Rd 400th E

    Year built
    1970
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.31 lot acres
    Property size
    37,403 SF
    Property type
    Office properties & Spaces
    APN
    36-65-10-200-011.000-007
    APU
    366510200011000007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,674,000
      Market price range: $1.29M - $4.23M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,675,000
      Current use
      AUTO REPAIR, GARAGE
      $3,180,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $2,560,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Seymour
    County
    Jackson
    State
    Indiana
    Longitude
    -85.9631
    Latitude
    38.9758
    CBSA code
    42980
    CBSA name
    SEYMOUR, 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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,116 SF

      480 County Rd 300th N

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    • Value Estimation
      $3,310,000
      56,301 SF

      7120 County Rd 875th E

      OFFICE (GENERAL) • 56,301 SF
      7120 County Rd 875th E, Seymour, IN 47274-8151
      View Details
    • Value Estimation by Request
      8,112 SF

      400 Jackson Park Dr

      OFFICE (GENERAL) • 8,112 SF
      400 Jackson Park Dr, Seymour, IN 47274-3599
      View Details
    • Value Estimation
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      28,290 SF

      1088 Sarasota Dr

      OFFICE (GENERAL) • 28,290 SF
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    • Value Estimation by Request
      4,641 SF

      107 Community Dr

      OFFICE (GENERAL) • 4,641 SF
      107 Community Dr, Seymour, IN 47274-1955
      View Details
    • Value Estimation
      $1,415,000
      19,792 SF

      116 128th E 3rd St

      OFFICE (GENERAL) • 19,792 SF
      116 128th E 3rd St, Seymour, IN 47274
      View Details

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      Multi-Purpose Commercial Building on Highway

      Newly built commercial building suitable for office, retail, or service.
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      Residential lots available in Seymour, Indiana.
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      Residential lots available in Seymour, Indiana with utilities access.
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      Redding Woods Residential Building Lot

      1.41-acre wooded lot in Redding Woods, Seymour, IN.
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      Residential Lots in Seymour, IN

      Residential lots available in Seymour, Indiana.
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    • $17,500,000
      712.92 Acres

      Seymour, Indiana Mixed-Use Acreage

      712+ acres with lake, buildings, utilities near Seymour, Indiana.
      2221 In-258, Seymour, IN 47274
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    Similar Nearby for Lease

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      Office Suites and Land Available

      Office suites and land for lease near I-65.
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      Regional Multi-Use Shopping Center Space

      Multi-use shopping center with retail, entertainment, and office spaces.
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      22,000 SF

      Versatile Flex Space in Seymour

      22,000 SF building with lab, manufacturing, and office space.
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      Retail Space in Pre-Construction Phase

      Retail center with flexible options, completion anticipated August-September 2023.
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      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Village Center

      Retail space available in a well-located village center.
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    • Contact for pricing

      Retail Space in Tipton Crossing

      Retail space available in busy Seymour shopping center.
      1171 W Tipton St, Seymour, IN 47274
      View Details
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    Seymour, IN 47274-8902
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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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