Remodeled Office Building with
For Sale
Contact for pricing
1210 Market St, Charlestown, IN 47111
Recently renovated commercial space offers office or retail flexibility, basement storage, and rear parking.
Property Size1,200 SF
Price / SF$216.58
Days on Market162
Property Features for 1210 Market St
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Office, Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1950
Year Renovated
2025
Buildings
1
Stories
1
Listing Agency:
Lopp Real Estate Brokers
(812) 944-7024
Listed By:
Todd Paxton · License #RB14033891
Source:
Crexi
Added: Mar 23
Changed: Aug 30
Last Checked: Aug 30 at 10:00PM
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 Lopp Real Estate Brokers
Investment Insights
Based on property information with market context.
This 1,200-square-foot office building includes a basement and recently completed interior renovation. The improvements were taken back to the studs, creating refreshed space suited to office, retail, or other commercial use supported by the property’s configuration. The building dates to 1950.
Located at 1210 Market St in Charlestown, the property fronts Highway 3 and offers high visibility along Market Street. Rear parking serves the building. The site is across from an upcoming retail development and near the Charlestown High School Campus, placing it within an established local activity area.
Located at 1210 Market St in Charlestown, the property fronts Highway 3 and offers high visibility along Market Street. Rear parking serves the building. The site is across from an upcoming retail development and near the Charlestown High School Campus, placing it within an established local activity area.
Key Highlights
- 1,200sf office building with basement
- Recently remodeled back to the studs
- Office, retail, or other commercial use potential
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
$18,317
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
7.05%
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%
$366,340
$366.3K
Cap Rate 7%
$261,671
$261.7K
Cap Rate 9%
$203,522
$203.5K
Market Conditions
NOI Build-Up for 1,200 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
$28.8K $24.00/SF
− Vacancy
−$4.4K −$3.65/SF
EGI
$24.4K $20.35/SF
− OpEx
−$6.1K −$5.09/SF
NOI
$18.3K $15.26/SF
Area
Clark County, IN
Vacancy
15.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$366,340
Cap Rate 7%
$261,671
Cap Rate 9%
$203,522
Alternative Uses
Best Use
Office B
$261.7K
$229.0K – $305.3K
NOI $18,317 @ 7.0% cap · market cap 7.05%
Second Best
Retail
$206.9K
$181.1K – $241.4K
NOI $14,485 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$348.9K
$305.3K – $407.0K
NOI $24,422 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 47111, IN
16,972
Population
7,011
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
91%
High-School Grad
86.0 sq mi
ZIP Area
197
Density / Sq Mi
$93,418
Median Household Income
$51,170
Median Earnings
$906
Median Rent
$261,700
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?
Office units - Recently renovated commercial space offers office or retail flexibility, basement storage, and rear parking.
Where is this office units located?
The property is located at 1210 Market St Charlestown, IN.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,200sf office building with basement; Recently remodeled back to the studs; Office, retail, or other commercial use potential
