Metal Warehouse and Retail
For Sale
$299,900
10140 S US Highway 31, Elizabethtown, IN 47232
COMMERCIAL - Elizabethtown, IN
Property Size3,000 SF
Lot Size1.44 Acres
Price / SF$99.97
Days on Market424
Property Features for 10140 S US Highway 31
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Elementary school district
Bartholomew Con School Corp
Middle school district
Bartholomew Con School Corp
High school district
Bartholomew Con School Corp
Directions
From Columbus: head S on US 31; go past Elizabethtown turn-off; shop on Rt. From Seymour: head N on US 31; go past Azalia turn-off; shop on Left
Subdivision
313 - Bartholomew - Sand Creek
Standard status
Active
APN
101400000000000000
Lot size
1.44 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A Part of the East Half of the Northeast Quarter of section 27, Township 8 North, Range 6 East.
Legal Description
A Part of the East Half of the Northeast Quarter of section 27, Township 8 North, Range 6 East.
Utilities
Utilities
Cable Available
Building Details
Year built
1999
Roof type
Metal
Listing Agency:
Berkshire Hathaway Home · Berkshire Hathaway HomeServices
(812) 378-3331
Listed By:
Spring Parsons · License #RB14039039
(812) 378-3331
Added: Jun 3, 2025
Changed: Jun 25
Last Checked: Jul 31 at 8:06PM
MLS# 22042699
Copyright © 2026 MIBOR Service Corporation. 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.
Well-maintained metal building on 1.44 acres, offering a flexible footprint for warehouse, retail, office, or mixed-use applications. The property includes updated lighting, a metal roof, and convenient interior support with a half bathroom and kitchenette. Outdoor improvements include a parking lot that has been freshly sealed, along with a newly graveled lane that provides access along the side of the building to the rear.
The property is positioned on US 31 with outstanding visibility, supporting customer-facing uses and general commercial operations. Public remarks also note a high-traffic setting, along with ample outdoor space for day-to-day business needs.
From a tenant and operator standpoint, the building’s combination of durable exterior construction, updated lighting, and practical back-of-building access can support a range of service, storage, and showroom-oriented users. The interior amenities also help accommodate staff needs for everyday workdays. Given the versatility described in the listing and the property’s maintained condition, it can be a straightforward option for businesses looking for a multi-use commercial facility in a high-visibility corridor.
The property is positioned on US 31 with outstanding visibility, supporting customer-facing uses and general commercial operations. Public remarks also note a high-traffic setting, along with ample outdoor space for day-to-day business needs.
From a tenant and operator standpoint, the building’s combination of durable exterior construction, updated lighting, and practical back-of-building access can support a range of service, storage, and showroom-oriented users. The interior amenities also help accommodate staff needs for everyday workdays. Given the versatility described in the listing and the property’s maintained condition, it can be a straightforward option for businesses looking for a multi-use commercial facility in a high-visibility corridor.
Key Highlights
- Well‑maintained 3,000 SF metal building built in 1999
- Set on 1.44 acres with frontage on US 31 and parking lot newly sealed
- Metal roof and updated lighting in the building
Financial Insights For Warehouse
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 | $27.0k | $9.00 |
| − Vacancy | −$1.9k | −$0.63 |
| EGI | $25.1k | $8.37 |
| − OpEx | −$3.8k | −$1.26 |
| NOI | $21.3k | $7.11 |
3,000 SF · lease $9.00/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$559.6K
$489.7K – $652.9K
NOI $39,172 @ 7.0% cap · market cap 13.06%
Second Best
Warehouse
$304.9K
$266.8K – $355.7K
NOI $21,344 @ 7.0% cap · market cap 7.12%
Theoretical Best
Healthcare Medical
$580.0K
$507.5K – $676.6K
NOI $40,597 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47232, IN
2,460
Population
912
Households
2.7
Avg Household Size
43
Median Age
21%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
77
Density / Sq Mi
$81,875
Median Household Income
$54,526
Median Earnings
$850
Median Rent
$185,400
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 - Well-maintained metal building with highway visibility, updated lighting, and side access to the rear on 1.44 acres.
Where is this flex space located?
The property is located at 10140 S US Highway 31 Elizabethtown, IN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Well‑maintained 3,000 SF metal building built in 1999; Set on 1.44 acres with frontage on US 31 and parking lot newly sealed; Metal roof and updated lighting in the building
