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    Flexible Office/Retail Condominium Suite Title is generated by Realmo AI

    2504 E 350 S, Lafayette, IN 47909

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    For Sale
    $435,000

    Office, Vacant - Lafayette, IN

    Type:Office
    Property size:
    2,817 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $154/SF
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 8:06 am

    Property Features for 2504 E 350 S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Office
    Parking
    50
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, None
    Exterior features
    None
    Standard status
    Active
    APN
    79-11-09-279-009.009-032
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5698.35

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Floors in Building
    1
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Steven Childers

    Listing agent Steven Childers License #RB22002269

    Listing office Keller Williams Lafayette 3928 McCarty Ln., Lafayette, IN

    Listing date Jun 5, 2026

    MLS# 202621850 Listing URL

    Copyright © 2026 Lafayette Regional Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Move‑in‑ready office/retail condominium at 2504 Veterans Memorial Parkway South in Lafayette
    • Approximately 2,817 SF suite with a flexible layout: large open workspace plus perimeter offices
    • Previously occupied as a salon with existing plumbing and nail station hookups that may benefit future users
    • Located on Veterans Memorial Parkway with approximately 18,000 vehicles per day
    • Forced air heating and central air conditioning
    • Ample shared parking with paved/surfaced parking

    Overview

    A move-in-ready office/retail condominium suite is available for sale or lease. The approximately 2,817 SF layout is flexible, anchored by a large open workspace with perimeter offices, making it adaptable to a range of office and customer-facing uses. The space also includes existing plumbing and nail station hookups that may support future salon, spa, and related service concepts.

    The property is located along Veterans Memorial Parkway South in Lafayette, Indiana, with approximately 18,000 vehicles per day reported along the corridor. It offers convenient access and ample shared parking to support employees and visitors.

    Because the suite combines an open area with surrounding private offices and includes relevant in-place plumbing, it can fit both traditional office users and service-oriented operators seeking ready-to-occupy space. It is described as suitable for office, medical, wellness, retail, showroom, or service-oriented uses, with immediate occupancy available for qualified tenants and buyers. For additional details on the offering and terms, please request the Full Offering Memorandum via the MLS Documents.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $59.2k $21.00
    − Vacancy −$14.2k −$5.04
    EGI $45.0k $15.96
    − OpEx −$11.2k −$3.99
    NOI $33.7k $11.97
    2,817 SF · lease $21.00/SF/yr · vacancy 24.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $481.7K
    $421.5K – $562.0K (±1% cap)
    NOI $33,719 @ 7.0% cap · market cap 7.75%
    Second Best
    Retail
    $404.0K
    $353.5K – $471.3K (±1% cap)
    NOI $28,277 @ 7.0% cap · market cap 6.50%
    Theoretical Best
    Office A
    $650.4K
    $569.1K – $758.8K (±1% cap)
    NOI $45,526 @ 7.0% cap · market cap 10.47%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Building Supply Auto Repair Shop Big Box & Wholesale Store Grocery & Convenience Store Food Market HVAC Service Storage Facility Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Tippecanoe
    State
    Indiana
    Longitude
    -86.8671545
    Latitude
    40.3678372

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    FAQs

    What type of property is this?
    Office units - Move-in-ready suite with open workspace, perimeter offices, and existing plumbing for medical or wellness-oriented operations.
    Where is this office units located?
    The property is located at 2504 E 350 S Lafayette, IN.
    What is the asking price?
    The asking price for this property is $435,000.
    What are key features of this property?
    This property features: Move‑in‑ready office/retail condominium at 2504 Veterans Memorial Parkway South in Lafayette; Approximately 2,817 SF suite with a flexible layout: large open workspace plus perimeter offices; Previously occupied as a salon with existing plumbing and nail station hookups that may benefit future users
    (765) 807-7177
    We can help!
    Listing Contact
    Steven Childers
    Real Estate License ID: RB22002269
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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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