Flex Warehouse with Office
For Sale
Contact for pricing
1227 Bringham Dr, Sellersburg, IN 47172
Move-in ready flex building with multiple offices, a warehouse, and five overhead doors plus extensive on-site parking.
Property Size4,766 SF
Price / SF$104.91
Days on Market65
Property Features for 1227 Bringham Dr
General Information
Standard status
Active
Size
4,766 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Warehouse Space
2,067 SF
Office Units
6
Building Details
Buildings
1
Listing Agency:
Semonin Realtors - Semonin Realtors - Indiana - New Albany
(812) 944-9800
Listed By:
Ray Lamm · License #RB14043870
(502) 905-5266
Source:
Moodyscre
Added: Jul 24
Changed: Sep 21
Last Checked: Sep 24 at 4:41PM
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 Semonin Realtors - Semonin Realtors - Indiana - New Albany
Investment Insights
Based on property information with market context.
This move-in ready flex building combines office space with warehouse use. The main level features five offices, along with an additional office above the warehouse. The property also includes five overhead doors, consisting of two 12' doors, two 10' doors, and one 7' door, supporting a range of loading needs.
The warehouse area is listed as 2,067 square feet. The building is located in an established business park in Sellersburg, with proximity to I-65 and Clark County Airport.
Parking is a key feature of the site, with ample space available for both cars and trucks.
The warehouse area is listed as 2,067 square feet. The building is located in an established business park in Sellersburg, with proximity to I-65 and Clark County Airport.
Parking is a key feature of the site, with ample space available for both cars and trucks.
Key Highlights
- Move‑in ready flex building with 5 offices on the main level and 1 office above the warehouse
- Warehouse space totals 2,067 sq. ft.
- 5 overhead doors: two 12' doors, two 10' doors, and one 7' door
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
8.32%
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 14.55%
Second Best
Flex RnD
$593.9K
$519.7K – $692.9K
NOI $41,576 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $96,998 @ 7.0% cap · market cap 19.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Office units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Move-in ready flex building with multiple offices, a warehouse, and five overhead doors plus extensive on-site parking.
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 $500,000.
What are key features of this property?
This property features: Move‑in ready flex building with 5 offices on the main level and 1 office above the warehouse; Warehouse space totals 2,067 sq. ft.; 5 overhead doors: two 12' doors, two 10' doors, and one 7' door
