Warehouse with Rail
For Sale
$450,000
105 Adkins Ct, Sellersburg, IN 47172
Metal industrial building with dock access, office areas, storage, and dedicated utility service.
Property Size5,532 SF
Lot Size0.52 Acres
Price / SF$79.74
Days on Market46
Property Features for 105 Adkins Ct
General Information
Standard status
Active
Size
5,532 SF
Class
C
Lot size
0.52 Acres
Property subtype
industrial
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
5,040 SF
Office Build-Out
1,056 SF
Dock-High Doors
2
Rail Access
No
Power
200 amps
Voltage
110 V
Three-Phase Power
No
Additional Details
Utilities to Site
Yes
Building Details
Stories
2
Building Size
5,532 SF
Construction
metal building
Listing Agency:
Louisville
(502) 394-2508
Listed By:
Stephen Lannert · License #185914
(502) 394-2508
Source:
Property.jll
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 29 at 7:26PM
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 Louisville
Investment Insights
Based on property information with market context.
This metal warehouse property at 105 Adkins Ct in Sellersburg, Indiana, occupies 0.522 acres and includes office, storage, and industrial areas. The facility has an 18-foot clear height, 2 docks, fluorescent lighting, and one restroom. A 492 SF office trailer is also included.
Utility infrastructure includes 3/4-inch water service with a 2-inch main, a 4-inch sewer line with a 6-inch main, and a 1-inch medium-pressure gas line with a 2-inch main. Electrical service is 200 amps, 110 volts, single-phase. The property also includes 1 former Louisville & Indiana rail dock, adding a rail-related loading feature to the warehouse configuration.
Utility infrastructure includes 3/4-inch water service with a 2-inch main, a 4-inch sewer line with a 6-inch main, and a 1-inch medium-pressure gas line with a 2-inch main. Electrical service is 200 amps, 110 volts, single-phase. The property also includes 1 former Louisville & Indiana rail dock, adding a rail-related loading feature to the warehouse configuration.
Key Highlights
- 0.522‑acre industrial warehouse property at 105 Adkins Ct, Sellersburg, IN 47172
- 18' clear height with 2 docks
- 1 former Louisville & Indiana rail 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
$27,449
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
6.10%
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%
$548,980
$549.0K
Cap Rate 7%
$392,129
$392.1K
Cap Rate 9%
$304,989
$305.0K
Market Conditions
NOI Build-Up for 5,643 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
$34.8K $6.16/SF
− Vacancy
−$2.5K −$0.44/SF
EGI
$32.3K $5.72/SF
− OpEx
−$4.8K −$0.86/SF
NOI
$27.4K $4.86/SF
Area
Clark County, IN
Vacancy
7.10%
Lease Rate
$6.16 /SF/Yr
Expense Ratio
15.00%
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%
$548,980
Cap Rate 7%
$392,129
Cap Rate 9%
$304,989
Alternative Uses
Best Use
Warehouse
$392.1K
$343.1K – $457.5K
NOI $27,449 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.91M
NOI $114,846 @ 7.0% cap · market cap 25.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Dock-high doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47172, IN
19,821
Population
8,537
Households
2.3
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
24.3 sq mi
ZIP Area
816
Density / Sq Mi
$80,525
Median Household Income
$48,560
Median Earnings
$1,152
Median Rent
$249,200
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.
Similar Off Market Nearby
- Storage Rentals of America — 8511 Commerce Park Drive, Sellersburg, IN 47172
Frequently Asked Questions
What type of property is this?
Warehouse - Metal industrial building with dock access, office areas, storage, and dedicated utility service.
Where is this warehouse located?
The property is located at 105 Adkins Ct Sellersburg, IN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 0.522‑acre industrial warehouse property at 105 Adkins Ct, Sellersburg, IN 47172; 18' clear height with 2 docks; 1 former Louisville & Indiana rail dock
