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    Property profile & analytics

    728 Main St Richmond, IN 47374-4312

    • Office Properties & Spaces
    • 21,766 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimation
    $500,000
    Last Sale
    Mar 11, 2025
    Location Intelligence
    Property ID
    US31-1493955
    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

    • Office Properties & Spaces

    Property Details for 728 Main St

    Year built
    1910
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.09 lot acres
    Property size
    21,766 SF
    Property type
    Office Properties & Spaces
    APN
    89-16-32-440-615.000-030
    APU
    891632440615000030

    Description

    This exceptional mixed-use property, located at 728 E Main St in Richmond, Indiana (zip code 47374), presents a prime investment opportunity. The historic building offers a substantial 21,766 square feet of space, spread across five stories. Its versatile configuration includes spaces suitable for bank operations, storefront retail, and traditional office uses. Currently vacant, this building offers a blank canvas for a variety of redevelopment projects. The asking price is $999,000, translating to $45.90 per square foot. On-site parking is available for 27 vehicles. The property's location in downtown Richmond, within Wayne County, Indiana, provides excellent visibility and accessibility. This significant structure may qualify for matching grants or other potential funding opportunities, further enhancing its investment appeal. The building's rich history and prime location combine to create a unique and potentially lucrative investment prospect. Serious inquiries are encouraged to explore the full potential of this remarkable property.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $560,000

    • CAP approach

      CAP return
      Estimation
      6%
      $410,000
      6.5%
      $395,000
      7%
      $375,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $440,000
      Geo Method
      $420,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $380,000
      Retail
      $320,000
      Mixed-Use
      $385,000
      Hospitality
      $415,000
      Educational
      $365,000
      Residential Income
      $385,000
      Energy
      $405,000
      Income-Based Land
      $390,000
      Food Service
      $330,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.8918
    Latitude
    39.8293
    CBSA code
    39980
    CBSA name
    RICHMOND, 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
    2022
    $27,180
    $9,800
    $318,400
    $328,200
    -
    $9,800
    $318,400
    $328,200

    Comparable in this City

    • Value Estimation by Request
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      1002 Parry St

      OFFICE (GENERAL) • 3,136 SF
      1002 Parry St, Richmond, IN 47374-6965
      View Details
    • Value Estimation by Request
      520 SF

      120 Main St

      OFFICE (GENERAL) • 520 SF
      120 Main St, Richmond, IN 47374-4207
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    • Value Estimation by Request
      4,222 SF

      2990 Main St

      OFFICE (GENERAL) • 4,222 SF
      2990 Main St, Richmond, IN 47374-3546
      View Details
    • Value Estimation by Request
      61,221 SF

      401 Main St

      OFFICE (GENERAL) • 61,221 SF
      401 Main St, Richmond, IN 47374-4254
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    • Value Estimation by Request
      946 SF

      3260 I-70

      OFFICE (GENERAL) • 946 SF
      3260 I-70, Richmond, IN 47374
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
      44,964 SF

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    728 Main St
    Richmond, IN 47374-4312
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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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