Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    890 Central Ct New Albany, IN 47150-2270

    • Manufacturing properties
    • 185,587 SF
    • 4.30 lot acres
    OFF-MARKET
    Value Estimations
    $1,690,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2142629
    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

    • MP Global / Warehouse & Storage

    Property Details for 890 Central Ct

    Year built
    1999
    Construction
    TYPE NOT SPECIFIED
    Lot size
    4.30 lot acres
    Property size
    185,587 SF
    Property type
    Manufacturing properties
    APN
    22-05-01-500-154.000-008
    APU
    220501500154000008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.828
    Latitude
    38.3358
    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
    $116,648
    $343,700
    $3,681,000
    $4,024,700
    -
    $343,700
    $3,681,000
    $4,024,700

    Comparable in this City

    • Value Estimation
      $990,000
      45,000 SF

      4355 Security Pkwy

      MANUFACTURING (LIGHT) • 45,000 SF
      4355 Security Pkwy, New Albany, IN 47150-9374
      View Details
    • Value Estimation
      $8,420,000
      270,377 SF

      520 Park E Blvd

      MANUFACTURING (LIGHT) • 270,377 SF
      520 Park E Blvd, New Albany, IN 47150-7251
      View Details
    • Value Estimation by Request
      15,000 SF

      5311 Foundation Blvd

      MANUFACTURING (LIGHT) • 15,000 SF
      5311 Foundation Blvd, New Albany, IN 47150-9321
      View Details
    • Value Estimation by Request
      16,952 SF

      200 Galvin Way

      MANUFACTURING (LIGHT) • 16,952 SF
      200 Galvin Way, New Albany, IN 47150-1588
      View Details
    • Value Estimation
      $695,000
      27,000 SF

      845 Park Pl

      MANUFACTURING (LIGHT) • 27,000 SF
      845 Park Pl, New Albany, IN 47150-2262
      View Details
    • Value Estimation by Request
      14,400 SF

      980 Progress Blvd

      MANUFACTURING (LIGHT) • 14,400 SF
      980 Progress Blvd, New Albany, IN 47150-2259
      View Details

    Similar Nearby for Sale

    • $3,095,000
      28,044 SF

      Well-Maintained Industrial-Office Building For Sale

      28,000+ SF industrial-office building built in 2016/2017.
      4302 Security Pkwy, New Albany, IN 47150
      View Details
    • $975,000
      41,728 SF

      New Albany Manufacturing/Warehouse Opportunity

      Multi-story building near upcoming mixed-use development.
      601 E 4Th St, New Albany, IN 47150
      View Details
    • $1,300,000
      17,460 SF

      Industrial Property in New Albany

      Industrial property with 17,460 square feet available for sale.
      402 E Market St, New Albany, IN 47150
      View Details
    • $2,000,000
      86,136 SF

      New Albany Storefront - Redevelopment

      Prime Downtown Location, Huge Potential
      1502 Beeler St, New Albany, IN 47150
      View Details
    • $650,000
      960 SF

      Thriving Landscape Business Sale

      Established Landscape Co. w/ Building
      910 Industrial Blvd, New Albany, IN 47150
      View Details
    • $795,000
      4,712 SF

      Downtown New Albany Office Building

      Updated office building in revitalized downtown area with parking.
      320 E Elm St, New Albany, IN 47150
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,569 SF

      Grant Line Crossing Retail Center

      New Albany, IN Retail Space Available
      1929 Mcdonald Ln, New Albany, IN 47150
      View Details
    • $700 /Mo
      700 SF

      Office Space Available For Rent

      700 square feet office space for rent in New Albany.
      1931 E Spring St, New Albany, IN 47150
      View Details
    • Contact for pricing
      1,795 SF

      New Albany Medical Office Space

      Modern, Class A office suite available.
      4000 Technology Ave, New Albany, IN 47150
      View Details
    • Contact for pricing
      3,458 SF

      Class A Office Space Available

      Highly visible office space in Southern Indiana's premier building.
      4106 Charlestown Rd, New Albany, IN 47150
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent at 628 State Street.
      628 State St, New Albany, IN 47150
      View Details
    • Contact for pricing

      Furnished Medical Office Space Available

      Furnished medical office space for sublease in Purdue Research Park.
      4101 Technology Ave, New Albany, IN 47150
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    890 Central Ct
    New Albany, IN 47150-2270
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.