Building Details

Year Built 1978

Construction brick

Listing Agency: Bradley Company - Corporate Show Phone

Listed By: Phillip Cosmas · License #RB14041376 Show Phone

Source: Moodyscre

Added: Jul 2, 2024 Changed: Oct 11 Last Checked: Oct 15 at 1:58AM

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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 Bradley Company - Corporate

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Investment Insights

Based on property information with market context.

This 4,142-square-foot retail property sits on 1.28 acres and includes three drive-thru lanes with 24 parking spaces. Built in 1978, the building features brick detailing and is configured for commercial retail use.

The property is located at 411 Lincoln Hwy W in New Haven, Indiana, with exposure to more than 23,000 vehicles per day. C-3, General Commercial zoning applies to the site.

Key Highlights

• 4,142‑square‑foot retail property on 1.28 acres
• Three drive‑thru lanes and 24 parking spaces
• C‑3, General Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,968

Cap Rate

6.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$779,360 $779.4K

Cap Rate 7%

$556,686 $556.7K

Cap Rate 9%

$432,978 $433.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,142 SF

Gross rent

$62.1K $15.00/SF

− Vacancy

−$6.5K −$1.56/SF

EGI

$55.7K $13.44/SF

− OpEx

−$16.7K −$4.03/SF

NOI

$39.0K $9.41/SF

Area

Allen County, IN

Vacancy

10.40%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$779,360

Cap Rate 7%

$556,686

Cap Rate 9%

$432,978

Alternative Uses

Best Use

Retail

$556.7K

$487.1K – $649.5K (±1% cap)

NOI $38,968 @ 7.0% cap · market cap 6.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$954.7K

$835.4K – $1.11M (±1% cap)

NOI $66,828 @ 7.0% cap · market cap 10.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Restaurant Law Firm Dental Office Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

23,000 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

278

Businesses Nearby

114k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 40% Shops & Services 30% Groceries 29% Electronics 1%

Kroger Groceries

33,471 visits/mo 0.3 miles

McDonald's Dining

27,490 visits/mo 0.5 miles

Speedway Shops & Services

10,654 visits/mo 0.4 miles

Kroger Fuel Center Shops & Services

9,079 visits/mo 0.3 miles

Arby's Dining

7,695 visits/mo 0.1 miles

Demographics for 46774, IN

17,341

Population

7,287

Households

2.4

Avg Household Size

39

Median Age

26%

College-Educated

91%

High-School Grad

52.7 sq mi

ZIP Area

329

Density / Sq Mi

$70,758

Median Household Income

$44,034

Median Earnings

$961

Median Rent

$169,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - C-3 General Commercial zoning supports a retail configuration with multiple customer access points.

Where is this retail space located?

The property is located at 411 Lincoln Hwy W New Haven, IN.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 4,142‑square‑foot retail property on 1.28 acres; Three drive‑thru lanes and 24 parking spaces; C‑3, General Commercial zoning