Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    901 State Rd 114th W North Manchester, IN 46962-1967
    Back to Search
    Property profile & analytics

    901 State Rd 114th W, North Manchester, IN 46962-1967

    View on Map
    • Office Spaces
    • 4,544 SF
    • 0.87 lot acres
    Off-Market
    Property ID
    US31-2044845
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 901 State Rd 114th W

    Year built
    1982
    Construction
    WOOD
    Lot size
    0.87 lot acres
    Property type
    Office Spaces
    APN
    85-07-06-202-009.000-002
    APU
    850706202009000002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 21, 2019 $150,000 Manchester Eyecare Real Estate LLC First Merchants Bank Special Warranty Deed $425k · Lake City Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Manchester
    County
    Wabash
    State
    Indiana
    Longitude
    -85.7822
    Latitude
    40.9992
    CBSA code
    47340
    CBSA name
    WABASH, 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
    $9,925
    $71,800
    $295,000
    $366,800
    -
    $71,800
    $295,000
    $366,800

    Comparable in this City

    • Value Estimation by Request
      1,632 SF

      217 Main St

      OFFICE (GENERAL)
      217 Main St, North Manchester, IN 46962-1824
      View Details
    • Value Estimation by Request
      1,100 SF

      812 Main St

      OFFICE (GENERAL)
      812 Main St, North Manchester, IN 46962-1451
      View Details
    • Value Estimation
      $3,420,000
      62,900 SF

      404 9th St

      OFFICE (GENERAL)
      404 9th St, North Manchester, IN 46962-1107
      View Details
    • Value Estimation
      $665,000
      11,373 SF

      705 Market St

      OFFICE (GENERAL)
      705 Market St, North Manchester, IN 46962-1128
      View Details
    • Value Estimation by Request
      496 SF

      600 Beckley St

      OFFICE (GENERAL)
      600 Beckley St, North Manchester, IN 46962-2401
      View Details
    • Value Estimation by Request
      4,920 SF

      204 Main St

      OFFICE (GENERAL)
      204 Main St, North Manchester, IN 46962-1504
      View Details

    Similar Nearby for Sale

    • $194,000
      0.11 Acres

      Historic Main Street Commercial Opportunity

      Two buildings with retail/office fronts and upper-level apartments.
      127 E Main St, North Manchester, IN 46962
      View Details
    • $200,000
      5,000 SF

      Versatile North Manchester Property

      Adaptable 5,000+ sq ft property with endless possibilities.
      1002 E State Road 114, North Manchester, IN 46962
      View Details
    • Contact for pricing
      1.50 Acres

      North Manchester Land with Barn

      1.5 acre lot with barn, home removal required.
      405 S Riv Ext, North Manchester, IN 46962
      View Details
    • Contact for pricing
      871,200 SF

      20 Acres CRP Cropland & Woods

      20+/- acres of CRP cropland and woods for sale.
      150 North 150 E, North Manchester, IN 46962
      View Details
    • Contact for pricing
      0.16 Acres

      Residential Land Near Downtown Amenities

      0.1644 acre lot near downtown North Manchester amenities.
      208 E 3Rd St, North Manchester, IN 46962
      View Details
    • $439,000
      6,366 SF

      North Manchester Sevenplex Investment Property

      Well-maintained seven-unit apartment building with on-site laundry and parking.
      102 E 2Nd St, North Manchester, IN 46962
      View Details

    Similar Nearby for Lease

    • New
      $1,250 /Mo
      7,554 SF

      Historic Corner Office Retail Space

      First-floor suite in a remodeled historic brick building with a reception area, flexible rooms, and two restrooms.
      202 N Walnut St, North Manchester, IN 46962
      View Details
    • New
      $1,200 /Mo
      4,600 SF

      Two-Story Brick Retail-Office Building

      Flexible two-story brick space with kitchenette, two half baths, and multiple levels for retail, office, or showroom use.
      132 E Main St, North Manchester, IN 46962
      View Details
    • Contact for pricing
      15,300 SF

      Retail Space Available for Lease

      7,060 SF retail property for lease in North Manchester, IN.
      1204 W Indiana 114, North Manchester, IN 46962
      View Details
    • Contact for pricing
      43,710 SF

      Industrial Building in Good Condition

      Steel frame industrial building for rent, approximately 43,710 square feet.
      801 W South St, North Manchester, IN 46962
      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.
    901 State Rd 114th W
    North Manchester, IN 46962-1967
    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

    Thank You for Inquiry
    901 State Rd 114th W, North Manchester, IN, 46962
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!