Industrial Property Near Downtown
159 CINCINNATI ST, Franklin, IN 46131
For Sale
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Industrial property with outside storage near downtown Franklin, Indiana.
Property Size6,094 SF
Price / SF$122.91
Days on Market176
Property Features for 159 CINCINNATI ST
General Information
Standard status
Size
Property subtype
Zoning
Building Details
Year Built
Stories
Units
Listing Agency:
Merrill Property Group
Listed By:
John Merrill · License IN RB14036883
(317) 590-3046
Source:
Crexi
Added: May 18
Changed: Aug 28
Last Checked: Aug 14 at 7:26AM
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 Merrill Property Group
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Investment Insights
Based on property information with market context.
This industrial property is located approximately half a mile from Franklin City Hall, offering proximity to historic downtown Franklin. The location provides access to restaurants, retail, and amenities near the courthouse square. It also offers access to I-65 and U.S. 31, and is located approximately 20 minutes south of Indianapolis. The property is suitable for manufacturing, warehousing, distribution, or flex uses. It includes outdoor storage capabilities, truck maneuvering areas, and on-site parking. The property is located in Johnson County, offering access to a skilled workforce and regional logistics support. The property is suitable for companies seeking a location with indoor and outdoor storage options.
Key Highlights
- Prime Location: Half‑mile proximity to downtown Franklin, offering convenient access to city hall, the courthouse square, restaurants, retail, and other amenities.
- Flexible Industrial Space: Suitable for manufacturing, warehousing, distribution, or flex uses.
- Generous Outdoor Storage: Includes ample outdoor storage capabilities and truck maneuvering areas.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,247
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,084,940
$1.1M
Cap Rate 7%
$774,957
$775.0K
Cap Rate 9%
$602,744
$602.7K
Market Conditions
NOI Build-Up for 6,094 SF
Gross rent
$91.4K $15.00/SF
− Vacancy
−$8.0K −$1.31/SF
EGI
$83.5K $13.70/SF
− OpEx
−$29.2K −$4.79/SF
NOI
$54.2K $8.90/SF
Area
Johnson County, IN
Vacancy
8.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,084,940
Cap Rate 7%
$774,957
Cap Rate 9%
$602,744
Alternative Uses
Best Use
Flex RnD
$775.0K
$678.1K – $904.1K
NOI $54,247 @ 7.0% cap · market cap 7.24%
Second Best
Industrial
$389.2K
$340.5K – $454.0K
NOI $27,242 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,498 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 46131, IN
32,869
Population
13,151
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
261
Density / Sq Mi
$81,914
Median Household Income
$44,797
Median Earnings
$1,114
Median Rent
$227,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Millie's Ice Cream Co. — 90 W Jefferson St, Franklin, IN 46131
Frequently Asked Questions
What type of property is this?
Flex space - Industrial property with outside storage near downtown Franklin, Indiana.
Where is this flex space located?
The property is located at 159 CINCINNATI ST Franklin, IN.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Prime Location: Half‑mile proximity to downtown Franklin, offering convenient access to city hall, the courthouse square, restaurants, retail, and other amenities.; Flexible Industrial Space: Suitable for manufacturing, warehousing, distribution, or flex uses.; Generous Outdoor Storage: Includes ample outdoor storage capabilities and truck maneuvering areas.
