Flex Building with Truck
For Sale
$649,900
Pending
2632 Cathy Lane, Jasper, IN 47546
COMMERCIAL, Jasper, IN
Property Size12,600 SF
Lot Size1.01 Acres
Days on Market158
Property Features for 2632 Cathy Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Fairway Park
Directions
From Why 231, east on 30th St, which becomes Cathy Ln.
Standard status
Pending
APN
19-06-23-401-105.000-002
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Fairway Park 4th Add Lot 14
Tax Annual Amount
7417
Legal Description
Fairway Park 4th Add Lot 14
Utilities
Cooling system
Central Air
Building Details
Year built
1988
Flooring type
Tile - Ceramic, Concrete, Carpet
Roof type
Metal
Listing Agency:
F.C. TUCKER EMGE
(812) 482-1424
Listed By:
Steve Lukemeyer · License #RB14036701
(812) 639-6340
Added: Apr 1
Changed: Sep 3
Last Checked: Sep 5 at 4:06PM
MLS# 202611265
Copyright © 2026 Southwest Indiana 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.
Investment Insights
Based on property information with market context.
Built in 1988, this 12,600 sq. ft. flex facility includes 11,400 sq. ft. of warehouse and industrial space, 406 sq. ft. of offices, and a 521 sq. ft. showroom or retail area. The building also provides three restrooms, two 10-foot drive-on overhead doors, and a truck dock. Included warehouse racking supports organized storage and operations.
The loading-dock section features a sprinkler system and radiant-heated floors. Gas heat serves the balance of the building, while central air conditioning serves the office and showroom areas. Situated on 1.01 acres at 2632 Cathy Lane in Jasper, Indiana, the property includes a freestanding pole sign for company identification.
The loading-dock section features a sprinkler system and radiant-heated floors. Gas heat serves the balance of the building, while central air conditioning serves the office and showroom areas. Situated on 1.01 acres at 2632 Cathy Lane in Jasper, Indiana, the property includes a freestanding pole sign for company identification.
Key Highlights
- 12,600 sq. ft. building on 1.01 acres
- 11,400 sq. ft. of warehouse/industrial space
- Two 10' drive‑on overhead doors plus a truck dock
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
$56,226
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
8.65%
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%
$1,124,520
$1.1M
Cap Rate 7%
$803,229
$803.2K
Cap Rate 9%
$624,733
$624.7K
Market Conditions
NOI Build-Up for 12,600 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
$86.2K $6.84/SF
− Vacancy
−$5.9K −$0.47/SF
EGI
$80.3K $6.37/SF
− OpEx
−$24.1K −$1.91/SF
NOI
$56.2K $4.46/SF
Area
Dubois County, IN
Vacancy
6.80%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
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%
$1,124,520
Cap Rate 7%
$803,229
Cap Rate 9%
$624,733
Alternative Uses
Best Use
Warehouse
$975.4K
$853.4K – $1.14M
NOI $68,275 @ 7.0% cap · market cap 10.51%
Second Best
Industrial
$803.2K
$702.8K – $937.1K
NOI $56,226 @ 7.0% cap · market cap 8.65%
Theoretical Best
Multifamily LT 5
$89.51M
$78.32M – $104.43M
NOI $6,265,940 @ 7.0% cap · market cap 964.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47546, IN
22,445
Population
10,080
Households
2.2
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
121.6 sq mi
ZIP Area
185
Density / Sq Mi
$67,806
Median Household Income
$41,824
Median Earnings
$767
Median Rent
$232,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-flex property combines warehouse, office, showroom, loading access, and exterior company signage.
Where is this flex space located?
The property is located at 2632 Cathy Lane Jasper, IN.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 12,600 sq. ft. building on 1.01 acres; 11,400 sq. ft. of warehouse/industrial space; Two 10' drive‑on overhead doors plus a truck dock
