High-Ceiling Flex
For Sale
$325,000
1367 E National, Brazil, IN 47834
Commercial Sale, Brazil, IN
Property Size3,936 SF
Lot Size1.00 Acre
Price / SF$82.57
Days on Market36
Property Features for 1367 E National
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial Garage
Elementary school district
Clay Community Schools
Middle school district
Clay Community Schools
High school district
Clay Community Schools
Directions
GPS Friendly
Subdivision
1102 - Clay - Van Buren
Standard status
Active
APN
110128300024000016
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt Sw/4 Sw 28-13-6 .50 A Pt Sw/4 Sw 28-13-6 .50 A Mp 028.0000032.0000
Legal Description
Pt Sw/4 Sw 28-13-6 .50 A Pt Sw/4 Sw 28-13-6 .50 A Mp 028.0000032.0000
Listing Agency:
Keller Williams Indy Metro Partners · Keller Williams Realty
(317) 882-5900
Listed By:
Jaskaran Jossan · License #RB21000870
(317) 599-2643
Added: Aug 12
Changed: Aug 28
Last Checked: Sep 15 at 11:06PM
MLS# 22119866
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property contains 3,936 SF within a 2016-built facility on a 1.00-acre parcel. The interior includes a 2,400 SF high-ceiling bay, a separate 1,536 SF bay, and finished office and reception space. The configuration combines enclosed work areas with dedicated administrative space.
Positioned on US Hwy 40 in Brazil, Indiana, the property offers highway access and visibility. The exterior lot provides space for vehicle parking, equipment storage, and fleet maneuvering. Commercial Garage zoning is in place, and the facility is available for immediate occupancy.
Positioned on US Hwy 40 in Brazil, Indiana, the property offers highway access and visibility. The exterior lot provides space for vehicle parking, equipment storage, and fleet maneuvering. Commercial Garage zoning is in place, and the facility is available for immediate occupancy.
Key Highlights
- 3,936 SF facility on a 1.00‑acre lot
- 2016‑built flex property with Commercial Garage zoning
- Primary 2,400 SF high‑ceiling bay
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,416
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$548,320
$548.3K
Cap Rate 7%
$391,657
$391.7K
Cap Rate 9%
$304,622
$304.6K
Market Conditions
NOI Build-Up for 3,936 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.9K $11.40/SF
− Vacancy
−$2.7K −$0.68/SF
EGI
$42.2K $10.72/SF
− OpEx
−$14.8K −$3.75/SF
NOI
$27.4K $6.97/SF
Area
Clay County, IN
Vacancy
6.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$548,320
Cap Rate 7%
$391,657
Cap Rate 9%
$304,622
Alternative Uses
Best Use
Flex RnD
$391.7K
$342.7K – $456.9K
NOI $27,416 @ 7.0% cap · market cap 8.44%
Second Best
Warehouse
$381.4K
$333.7K – $445.0K
NOI $26,698 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$696.3K
$609.3K – $812.4K
NOI $48,743 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47834, IN
19,430
Population
8,451
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
91%
High-School Grad
154.2 sq mi
ZIP Area
126
Density / Sq Mi
$66,677
Median Household Income
$41,247
Median Earnings
$866
Median Rent
$135,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial Garage zoning and a finished office/reception area complement the two-bay commercial layout.
Where is this flex space located?
The property is located at 1367 E National Brazil, IN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,936 SF facility on a 1.00‑acre lot; 2016‑built flex property with Commercial Garage zoning; Primary 2,400 SF high‑ceiling bay
