Mixed-Use Building with Office
New
For Sale
$335,000
1000 Main Street, Anderson, IN 46016
Commercial Sale, Anderson, IN
Property Size1,624 SF
Lot Size0.04 Acres
Price / SF$206.28
Days on Market6
Property Features for 1000 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2
Parking features
Leased
Middle school
Highland Middle School
Elementary school district
Anderson Community School Corp
Middle school district
Anderson Community School Corp
High school district
Anderson Community School Corp
Directions
GPS Friendly
Subdivision
4810 - Madison - Anderson NW
Standard status
Active
APN
481112403197000003
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Parcel #481112403197000003
Tax Annual Amount
4502
Legal Description
Parcel #481112403197000003
Utilities
Utilities
Cable Available
Heating system
Forced Air, Natural Gas
Cooling system
Wall Unit(s)
Amenities
secure lower-level storage
Building Details
Year built
1964
Listing Agency:
RE/MAX Real Estate Solutions · RE/MAX International
(765) 640-1900
Listed By:
Jim Bittner · License #RB14043091
(765) 425-1008
Added: Sep 27
Changed: Oct 1
Last Checked: Oct 2 at 3:06AM
MLS# 22128094
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.
The Forge is a mixed-use property with two residential apartments on the upper floor and a main level arranged as two separate office suites. The west suite measures approximately 1,013 square feet and is ready for occupancy; the east suite offers approximately 548 square feet for tenant build-out. The main floor can also operate as one approximately 1,624-square-foot suite. Secure lower-level storage adds approximately 900 square feet. The property was built in 1964 and has forced-air, natural-gas heating, wall-unit cooling, and cable availability.
At the southeast corner of 10th and Main, the property is next to the Anderson City Court and Police Department, with the courthouse one block away. Street parking is available, and a city parking garage is across the street. Zoning is B-2.
At the southeast corner of 10th and Main, the property is next to the Anderson City Court and Police Department, with the courthouse one block away. Street parking is available, and a city parking garage is across the street. Zoning is B-2.
Key Highlights
- Main level offers 1,013‑square‑foot west suite and 548‑square‑foot east suite, or one 1,624‑square‑foot suite
- Two residential apartments occupy the upper floor
- Approximately 900 square feet of secure lower‑level storage
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
$21,381
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
6.38%
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%
$427,620
$427.6K
Cap Rate 7%
$305,443
$305.4K
Cap Rate 9%
$237,567
$237.6K
Market Conditions
NOI Build-Up for 1,624 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
$31.6K $19.44/SF
− Vacancy
−$3.1K −$1.89/SF
EGI
$28.5K $17.55/SF
− OpEx
−$7.1K −$4.39/SF
NOI
$21.4K $13.17/SF
Area
Madison County, IN
Vacancy
9.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
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%
$427,620
Cap Rate 7%
$305,443
Cap Rate 9%
$237,567
Alternative Uses
Best Use
Office B
$305.4K
$267.3K – $356.4K
NOI $21,381 @ 7.0% cap · market cap 6.38%
Second Best
Mixed Use
$229.7K
$201.0K – $268.0K
NOI $16,078 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$374.3K
$327.5K – $436.7K
NOI $26,202 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 46016, IN
17,686
Population
9,225
Households
1.9
Avg Household Size
36
Median Age
10%
College-Educated
80%
High-School Grad
6.4 sq mi
ZIP Area
2,763
Density / Sq Mi
$35,543
Median Household Income
$28,753
Median Earnings
$864
Median Rent
$66,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upstairs apartments sit above professional space with flexible suite configurations and B-2 zoning.
Where is this mixed-use property located?
The property is located at 1000 Main Street Anderson, IN.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Main level offers 1,013‑square‑foot west suite and 548‑square‑foot east suite, or one 1,624‑square‑foot suite; Two residential apartments occupy the upper floor; Approximately 900 square feet of secure lower‑level storage
