Spa & Wellness Property with
For Sale
$391,000
1601 E 53rd Street, Anderson, IN 46013
Commercial Sale, Anderson, IN
Property Size1,756 SF
Lot Size1.07 Acres
Price / SF$222.67
Days on Market418
Property Features for 1601 E 53rd Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial Office
Middle school
Highland Middle School
Elementary school district
Anderson Community School Corp
Middle school district
Anderson Community School Corp
High school district
Anderson Community School Corp
Directions
Scatterfield Road to 53rd St. and go east on 53rd to the property on the south side of the street.
Subdivision
4810 - Madison - Anderson NW
Standard status
Active
APN
481231100038000003
Lot size
1.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Pt Nw W2 Ne Plat 8-4 1.0700Acres Str: 31198 Section: Plat: 00 In: Out:
Legal Description
Pt Nw W2 Ne Plat 8-4 1.0700Acres Str: 31198 Section: Plat: 00 In: Out:
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
full kitchen
two bathrooms
gas forced-air heating
central electric cooling
front and rear parking
detached garage storage
Building Details
Year built
1964
Roof type
Metal
Listing Agency:
Keller Williams Indy Metro NE · Keller Williams Realty
(317) 564-7100
Listed By:
Justin Puckett · License #RB14041687
(765) 274-9773
Added: Jul 14, 2025
Changed: Sep 1
Last Checked: Sep 4 at 5:06PM
MLS# 22050622
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,756-square-foot brick commercial building sits on 1.07 acres and is currently arranged for a nail salon operation. The interior includes a reception area, multiple service spaces, a full kitchen, and two bathrooms. Built in 1964, the property has gas forced-air heating, central electric cooling, and a metal roof. Commercial Office zoning supports its established business setting.
The site occupies the corner of 53rd Street and Arbor Street in Anderson, providing access from both intersecting streets. Parking is positioned at the front and rear of the building. A detached garage adds storage capacity, while the existing configuration can accommodate continued beauty and wellness use or other commercial applications identified in the property information.
The site occupies the corner of 53rd Street and Arbor Street in Anderson, providing access from both intersecting streets. Parking is positioned at the front and rear of the building. A detached garage adds storage capacity, while the existing configuration can accommodate continued beauty and wellness use or other commercial applications identified in the property information.
Key Highlights
- 1.07‑acre commercial site at 53rd Street and Arbor Street
- 1,756‑square‑foot brick building currently configured as a nail salon
- Reception area, multiple service spaces, full kitchen, and 2 bathrooms
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
4.24%
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 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 7.25%
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?
Spa & wellness property - Existing service-oriented layout includes reception, multiple treatment spaces, a kitchen, and two bathrooms.
Where is this spa & wellness 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 $391,000.
What are key features of this property?
This property features: 1.07‑acre commercial site at 53rd Street and Arbor Street; 1,756‑square‑foot brick building currently configured as a nail salon; Reception area, multiple service spaces, full kitchen, and 2 bathrooms
