Leased Industrial Investment
For Sale
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105 Security Parkway, New Albany, IN 47150
71,350 SF industrial property in New Albany, Indiana.
Property Size71,350 SF
Price / SF$97.41
Days on Market88
Property Features for 105 Security Parkway
General Information
Standard status
Active
Size
71,350 SF
Property subtype
Industrial
Zoning
I2 Heavy Industrial
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1993
Tenancy
Multi
Listing Agency:
TRIO Commercial Property Group LLC
Listed By:
Dalton Dreisbach · License #KY
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Aug 8 at 7:25AM
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 TRIO Commercial Property Group LLC
Investment Insights
Based on property information with market context.
This 71,350 square foot industrial property, located at 105 Security Parkway in New Albany, Indiana, presents an investment opportunity. The building is fully leased and features two tenants. The property includes office space over two stories. Zoned Heavy Industrial (I-2), the warehouse offers 18 loading docks with 9' x 10' doors, heavy 3-phase electric service, and an automatic wet sprinkler system.
Key Highlights
- Fully leased 71,350 SF industrial investment opportunity.
- Zoned Heavy Industrial (I‑2).
- Features 18 loading docks with 9' x 10' doors.
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
$358,645
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
5.16%
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%
$7,172,900
$7.2M
Cap Rate 7%
$5,123,500
$5.1M
Cap Rate 9%
$3,984,944
$4.0M
Market Conditions
NOI Build-Up for 71,350 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
$439.5K $6.16/SF
− Vacancy
−$17.6K −$0.25/SF
EGI
$421.9K $5.91/SF
− OpEx
−$63.3K −$0.89/SF
NOI
$358.6K $5.03/SF
Area
Floyd County, IN
Vacancy
4.00%
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%
$7,172,900
Cap Rate 7%
$5,123,500
Cap Rate 9%
$3,984,944
Alternative Uses
Best Use
Office B
$12.78M
$11.18M – $14.91M
NOI $894,643 @ 7.0% cap · market cap 12.87%
Second Best
Warehouse
$5.12M
$4.48M – $5.98M
NOI $358,645 @ 7.0% cap · market cap 5.16%
Theoretical Best
Specialty Retail
$51.57M
$45.13M – $60.17M
NOI $3,610,071 @ 7.0% cap · market cap 51.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 47150, IN
49,395
Population
22,834
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
45.0 sq mi
ZIP Area
1,098
Density / Sq Mi
$62,212
Median Household Income
$40,837
Median Earnings
$984
Median Rent
$191,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 71,350 SF industrial property in New Albany, Indiana.
Where is this warehouse located?
The property is located at 105 Security Parkway New Albany, IN.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Fully leased 71,350 SF industrial investment opportunity.; Zoned Heavy Industrial (I‑2).; Features 18 loading docks with 9' x 10' doors.
