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    1236 Patterson Street Decatur, IN 46733

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    Claim this Listing
    For Sale
    $3,500,000

    Industrial - Decatur, IN

    Type:Industrial
    Lot size:
    4.83 Acres
    Added:
    Oct 2, 2025
    Days on Market:
    201
    Last Refresh:
    Apr 20 at 9:06 am

    Property Features for 1236 Patterson Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Industrial
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Parking features
    Off Street, Paved or Surfaced
    Interior features
    Metal, Three Phase, Overhead Door 1, Overhead Door 2, Delivery Door, Office Space, Overhead Crane(s) Incl, Reception Area
    Exterior features
    Three Phase, Overhead Door 1, Overhead Door 2, Delivery Door, Office Space, Overhead Crane(s) Incl, Reception Area
    Standard status
    Active
    APN
    01-05-03-301-012.000-022
    Lot size
    4.83 Acres

    Taxes and HOA fees

    Tax Annual Amount
    35117

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Floors in Building
    2
    Flooring type
    Concrete
    Building materials
    Block
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Brevin Slusher
    Brevin Slusher

    Listing agent Brevin Slusher License #RB23002369

    Listing office Krueckeberg Auction And Realty 1030 South 13th Street, Decatur, IN

    Listing date Oct 2, 2025

    MLS# 202542655 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Decatur Industrial Building with Outlots

    This industrial property in Decatur, Indiana, features a large-scale industrial building with integrated office space, totaling 55,580 square feet. The west building offers frontage on US27, along with approximately 24,000 square feet of warehousing space and a two-story office component. The purchase includes two buildings situated on a 4.83-acre lot, as well as four outlots around the property, adding 1.44 acres. Three of these outlots are located to the south, and one is to the east.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lance Camper Manufacturing ... Industrial Manufacturer

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Secure Self Stor — 1041 S 11th St, Decatur, IN 46733
    • Decatur U-Stor-It Self Storage — 808 S 11th St, Decatur, IN 46733

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Adams
    State
    Indiana
    Longitude
    -84.935178
    Latitude
    40.825156

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    FAQs

    What type of property is this?
    Warehouse - Industrial building with office space and additional outlots for sale.
    Where is this warehouse located?
    The property is located at 1236 Patterson Street Decatur, IN.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Large scale industrial building with office space totaling 55,580 SF.; West building with frontage to US27 and sizable warehousing (~24,000 SQFT) with 2‑story office.; Includes 4 outlots adding 1.44 acres.
    (260) 223-4082
    We can help!
    Listing Contact
    Brevin Slusher
    Brevin Slusher
    Real Estate License ID: RB23002369
    Learn More
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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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