Flex Warehouse with
For Sale
$535,000
1227 Bringham Dr, Sellersburg, IN 47172
Move-in ready building with 5 main-level offices, 1 office above, and five overhead doors.
Property Size4,766 SF
Price / SF$112.25
Days on Market44
Property Features for 1227 Bringham Dr
General Information
Standard status
Active
Size
4,766 SF
Property subtype
Commercial
Building Details
Year Built
2003
Listing Agency:
Schuler Bauer Real Estate Services Era Powered
(812) 948-2888
Listed By:
Ward Realty Services
(812) 200-2838
Source:
Wardrealtyservices
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 7 at 1:16PM
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 Schuler Bauer Real Estate Services Era Powered
Investment Insights
Based on property information with market context.
This move-in ready flex warehouse includes five offices on the main level plus one office above the warehouse. The warehouse portion is supported by five overhead doors, including two 12' doors, two 10' doors, and one 7' door.
The property is located in an established park in the growing area of Sellersburg, with proximity to I-65 and Clark County Airport. The site offers substantial parking for both cars and trucks.
The existing configuration provides a functional combination of office space and warehouse operations, supported by multiple overhead loading doors to accommodate different vehicle heights.
The property is located in an established park in the growing area of Sellersburg, with proximity to I-65 and Clark County Airport. The site offers substantial parking for both cars and trucks.
The existing configuration provides a functional combination of office space and warehouse operations, supported by multiple overhead loading doors to accommodate different vehicle heights.
Key Highlights
- Move‑in ready building with 5 offices on the main level and 1 office above the warehouse
- Warehouse space totals 2,067 sq. ft.
- Five overhead doors: 2 at 12', 2 at 10', and 1 at 7'
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
$41,576
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
7.77%
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%
$831,520
$831.5K
Cap Rate 7%
$593,943
$593.9K
Cap Rate 9%
$461,956
$462.0K
Market Conditions
NOI Build-Up for 4,766 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
$68.6K $14.40/SF
− Vacancy
−$4.7K −$0.98/SF
EGI
$64.0K $13.42/SF
− OpEx
−$22.4K −$4.70/SF
NOI
$41.6K $8.72/SF
Area
Clark County, IN
Vacancy
6.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$831,520
Cap Rate 7%
$593,943
Cap Rate 9%
$461,956
Alternative Uses
Best Use
Office B
$1.04M
$909.4K – $1.21M
NOI $72,748 @ 7.0% cap · market cap 13.60%
Second Best
Flex RnD
$593.9K
$519.7K – $692.9K
NOI $41,576 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $96,998 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Balanced
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Move-in ready building with 5 main-level offices, 1 office above, and five overhead doors.
Where is this flex space located?
The property is located at 1227 Bringham Dr Sellersburg, IN.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Move‑in ready building with 5 offices on the main level and 1 office above the warehouse; Warehouse space totals 2,067 sq. ft.; Five overhead doors: 2 at 12', 2 at 10', and 1 at 7'
