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Property profile & analytics
OFF-MARKET Estimated value $1,085,000
Theaters & concert halls

870 Mallory Pkwy Franklin, IN 46131-7733

26,737 SF 9.28 ac lot Built 1999
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US31-1123930
Property summary
AI-generated overview

This exceptional 26,737 square foot property, located at 870 Mallory Pkwy in Franklin, Indiana, presents a unique investment opportunity. Originally a successful cinema complex operating for over two decades, this single-story, 1999-built building boasts nine screens (seven indoor and two outdoor drive-in). The expansive 9.28-acre lot features ample paved and lighted parking. Its prime location, situated behind Kroger and Kohl's shopping centers, benefits from high visibility and convenient access just off US 31 South. The property's MXC Mixed Use Commercial zoning allows for diverse uses, including continued entertainment, retail, trade school, or business ventures. The high ceilings (19 feet) and existing infrastructure offer significant potential for adaptive reuse, such as a daycare center or church campus. The building includes a welcoming reception area and features an elevator. This versatile property is ideal for an investor seeking a high-impact commercial space in a thriving community near local schools and Franklin College. The entire 26,737 square feet is currently vacant, offering immediate occupancy. The property's APN is 41-08-15-014-001.021-009, and it's located in Johnson County, Indiana, zip code 46131.

Property profile
Verified
Property type Theaters & concert halls
Use group THEATER (MOVIE)
Year built 1999
Construction TYPE NOT SPECIFIED
Total area 26,737 SF
Lot 9.28 ac (404,150 SF)
APN 41-08-15-014-001.021-009
UPID US31-1123930
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.27M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.09M
Owner & transaction history
Meag Holdings LLC · 5 yrs held
Meag Holdings LLC
since 2020
Last sale
$975,000
1 recorded transaction
2020
$975,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $1.6M +4.0%
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