Retail
For Sale
Contact for pricing
1017 E Main Street, Richmond, IN 47374
Commercial storefront space is offered for sale along E Main Street.
Property Size3,840 SF
Price / SF$75.49
Days on Market129
Property Features for 1017 E Main Street
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Special Purpose
Listing Agency:
Coldwell Banker Lingle
(727) 771-8773
Listed By:
Alan Stamper · License #IN RB16001438
Source:
Crexi
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 3:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Lingle
Investment Insights
Based on property information with market context.
This retail property includes 3,840 square feet of commercial space at 1017 E Main Street. The asset is positioned in Richmond, Indiana, and is offered for sale.
Key Highlights
- 3,840‑square‑foot retail property
- Located at 1017 E Main Street, Richmond, IN 47374
- Offered for sale
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
$14,162
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
4.89%
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%
$283,240
$283.2K
Cap Rate 7%
$202,314
$202.3K
Cap Rate 9%
$157,356
$157.4K
Market Conditions
NOI Build-Up for 3,840 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
$22.6K $5.88/SF
− Vacancy
−$2.3K −$0.61/SF
EGI
$20.2K $5.27/SF
− OpEx
−$6.1K −$1.58/SF
NOI
$14.2K $3.69/SF
Area
Wayne County, IN
Vacancy
10.40%
Lease Rate
$5.88 /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%
$283,240
Cap Rate 7%
$202,314
Cap Rate 9%
$157,356
Alternative Uses
Best Use
Retail
$202.3K
$177.0K – $236.0K
NOI $14,162 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$481.4K
$421.2K – $561.6K
NOI $33,696 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 13%
Speedway
Shops & Services
22,710 visits/mo
0.4 miles
Parlor Doughnuts
Dining
4,092 visits/mo
0.4 miles
AutoZone
Shops & Services
2,823 visits/mo
0.5 miles
H&R Block
Shops & Services
717 visits/mo
0.4 miles
Demographics for 47374, IN
45,304
Population
21,553
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
119.8 sq mi
ZIP Area
378
Density / Sq Mi
$52,566
Median Household Income
$34,168
Median Earnings
$816
Median Rent
$121,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial storefront space is offered for sale along E Main Street.
Where is this retail space located?
The property is located at 1017 E Main Street Richmond, IN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 3,840‑square‑foot retail property; Located at 1017 E Main Street, Richmond, IN 47374; Offered for sale
