Office Building with Expansion
2522 N Salisbury St West Lafayette, IN
For Sale
Contact for pricing
Office building with vacant lot for parking expansion.
Property Size4,800 SF
Lot Size0.65 Acres
Price / SF$239.58
Days on Market789
Property Features for 2522 N Salisbury St
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.65 Acres
Property subtype
OFFICE
Listing Agency:
Realty Advisors IN
(765) 426-5800
Listed By:
Matt Washburn
(765) 426-5800
Source:
Moodyscre
Added: Jun 1, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:14AM
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 Realty Advisors IN
Investment Insights
Based on property information with market context.
This property features an office building situated on two parcels. The building is zoned NB (Neighborhood Business District), while the adjacent vacant lot is zoned R1 (Single-Family Residential District). The property offers the potential for expanded parking facilities utilizing the vacant parcel.
Key Highlights
- Two parcels included in sale.
- Building is zoned NB (Neighborhood Business).
- Vacant lot is zoned R1 (Single‑Family Residential).
Financial Insights For Office B
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 | $100.8k | $21.00 |
| − Vacancy | −$24.2k | −$5.04 |
| EGI | $76.6k | $15.96 |
| − OpEx | −$19.2k | −$3.99 |
| NOI | $57.5k | $11.97 |
4,800 SF · lease $21.00/SF/yr · vacancy 24.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$820.8K
$718.2K – $957.6K
NOI $57,456 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$969.7K – $1.29M
NOI $77,573 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Office building with vacant lot for parking expansion.
Where is this office building located?
The property is located at 2522 N Salisbury St West Lafayette, IN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two parcels included in sale.; Building is zoned NB (Neighborhood Business).; Vacant lot is zoned R1 (Single‑Family Residential).
