Brick Storefront with Storage
For Sale
$409,000
1601 E 53rd Street, Anderson, IN 46013
Brick commercial building with parking and access from two streets.
Property Size1,756 SF
Lot Size1.07 Acres
Price / SF$232.92
Days on Market475
Property Features for 1601 E 53rd Street
General Information
Standard status
Active
Size
1,756 SF
Lot size
1.07 Acres
Property subtype
Retail
Additional Details
Road Access
Yes
Amenities
Garage for storage
Gas forced air
central electric cooling
Central Air
3
Building Details
Year Built
1964
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Indy Metro NE
(317) 564-7100
Listed By:
Justin Puckett · License #RB14041687
Source:
Xome
Added: May 14, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:14PM
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 Keller Williams Indy Metro NE
Investment Insights
Based on property information with market context.
This brick storefront property includes 1,756 square feet, two bathrooms, front and rear parking, and a separate garage for storage. Building systems include gas forced-air heat and central electric cooling, supporting a range of commercial configurations within the existing structure. The property was built in 1964 and occupies 1.07 acres.
Located at the intersection of E 53rd Street and Arbor Street in Anderson, the site can be reached from either 53rd Street or Arbor Street. Its corner positioning provides access from both adjoining streets, while the on-site parking areas serve the building from the front and rear.
Located at the intersection of E 53rd Street and Arbor Street in Anderson, the site can be reached from either 53rd Street or Arbor Street. Its corner positioning provides access from both adjoining streets, while the on-site parking areas serve the building from the front and rear.
Key Highlights
- 1.07‑acre storefront property at E 53rd Street and Arbor Street
- 1,756‑square‑foot brick building with 2 bathrooms
- Access from both 53rd Street and Arbor Street
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
$16,594
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
4.06%
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%
$331,880
$331.9K
Cap Rate 7%
$237,057
$237.1K
Cap Rate 9%
$184,378
$184.4K
Market Conditions
NOI Build-Up for 1,756 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
$26.3K $15.00/SF
− Vacancy
−$2.6K −$1.50/SF
EGI
$23.7K $13.50/SF
− OpEx
−$7.1K −$4.05/SF
NOI
$16.6K $9.45/SF
Area
Madison County, IN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$331,880
Cap Rate 7%
$237,057
Cap Rate 9%
$184,378
Alternative Uses
Best Use
Retail
$237.1K
$207.4K – $276.6K
NOI $16,594 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
475k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 26%
Apparel 13%
Groceries 12%
Chick-fil-A
Dining
41,035 visits/mo
0.5 miles
McDonald's
Dining
38,545 visits/mo
0.4 miles
Pay Less Super Markets
Groceries
35,415 visits/mo
0.3 miles
Marshalls
Apparel
33,179 visits/mo
0.3 miles
Five Below
Shops & Services
26,856 visits/mo
0.3 miles
Demographics for 46013, IN
18,288
Population
9,062
Households
2
Avg Household Size
43
Median Age
17%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
875
Density / Sq Mi
$49,557
Median Household Income
$35,000
Median Earnings
$891
Median Rent
$120,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with parking and access from two streets.
Where is this storefront property located?
The property is located at 1601 E 53rd Street Anderson, IN.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: 1.07‑acre storefront property at E 53rd Street and Arbor Street; 1,756‑square‑foot brick building with 2 bathrooms; Access from both 53rd Street and Arbor Street
