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Warehouse/Office with Tax Abatement

1257 Airport Parkway Greenwood, IN

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6,000 SF warehouse/office with HVAC and tax abatement.

Type:INDUSTRIAL
Property size:
6,000 SF
Lot size:
0.55 Acres
Price / SF:
$175/SF
Added:
Jun 27, 2025
Days on Market:
381
Last Refresh:
May 20 at 8:16 pm

Property Features for 1257 Airport Parkway

General Information

Standard status
Active
Size
6,000 SF
Lot size
0.55 Acres
Property subtype
INDUSTRIAL

Listing office Lynn Properties, LLC

Listing date Jun 27, 2025

Source Moodyscre

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 Lynn Properties, LLC


Investment Insights

Based on property information with market context.

This warehouse and office property, constructed in 2019, offers a rare opportunity for businesses. The property features HVAC in both the office and warehouse areas, along with new LED lighting in the warehouse. The total space encompasses 6,000 square feet, complemented by a 1,525 square foot mezzanine. A tax abatement is in place with four years remaining. At-door parking is available. The property includes two 12' x 12' drive-in doors. The Home Owner's Association provides excellent maintenance. Rental income is generated from a tenant in Suite C. The location is less than 1 mile from I-65, making it suitable for a growing business.

Key Highlights

  • HVAC in both the office and warehouse areas
  • Enjoy the benefit of 4 years remaining on the tax abatement
  • Features 6,000 SF of space plus a 1,525 SF mezzanine

Local 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 $118.8k $19.80
− Vacancy −$17.8k −$2.97
EGI $101.0k $16.83
− OpEx −$25.2k −$4.21
NOI $75.7k $12.62
6,000 SF · lease $19.80/SF/yr · vacancy 15.00% · expense 25.00%

Alternative Uses

Best Use
Office B
$1.08M
$946.7K – $1.26M (±1% cap)
NOI $75,735 @ 7.0% cap · market cap 7.21%
Second Best
Warehouse
$465.3K
$407.1K – $542.8K (±1% cap)
NOI $32,569 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M (±1% cap)
NOI $105,840 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Iwp Inc. Construction Company Graphic Resources (Bike/Boat/Book/etc) Store Bell Plumbing Services ... Plumbing Service Projects Plus, Greenwood ... Surveyor Bo's Hair Salon Hair Salon

Suggested Use

Real Estate Agency Law Firm Building Supply Auto Parts Store Auto Repair Shop Restaurant HVAC Service Electrical Service Garden Center Spa & Massage Center

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Storage Rentals of America — 444 N Emerson Ave, Greenwood, IN 46143
  • Greenwood Self Storage — 197 N Emerson Ave, Greenwood, IN 46143

FAQs

What type of property is this?
Warehouse - 6,000 SF warehouse/office with HVAC and tax abatement.
Where is this warehouse located?
The property is located at 1257 Airport Parkway Greenwood, IN.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: HVAC in both the office and warehouse areas; Enjoy the benefit of 4 years remaining on the tax abatement; Features 6,000 SF of space plus a 1,525 SF mezzanine
Contact an agent
(317) 332-5762 Call to check price and availability
More about this property
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