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    Corner Retail and Office Building Title is generated by Realmo AI

    1601 E 53rd Street, Anderson, IN 46013

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    For Sale
    $391,000

    Retail - Anderson, IN

    Type:Retail
    Property size:
    1,756 SF
    Lot size:
    1.07 Acres
    Price / SF:
    $222/SF
    Added:
    Jul 14, 2025
    Days on Market:
    328
    Last Refresh:
    Jun 5 at 11:06 pm

    Property Features for 1601 E 53rd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Commercial Office
    Standard status
    Active
    APN
    481231100038000003
    Size
    1,756 SF
    Lot size
    1.07 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1964
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Justin Puckett

    Listing agent Justin Puckett License #RB14041687

    Listing office Keller Williams Indy Metro NE River Rd Ste 200, Indianapolis, IN

    Listing date Jul 14, 2025

    MLS# 22050622 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.07‑acre commercial site on the corner of 53rd St. & Arbor St.
    • 1,756 sq. ft. brick building built in 1964 with metal roof
    • Currently configured as a nail salon with a reception area, multiple service spaces, full kitchen, and 2 bathrooms
    • Gas forced‑air heating and central electric cooling for year‑round comfort
    • Front and rear parking plus a detached garage for additional storage
    • Flexible layout suitable for retail, office, medical, or professional uses

    Overview

    This 1,756-square-foot brick commercial building is set up for a nail salon but offers a flexible interior layout for a range of retail, office, medical, and professional uses. The property includes a welcoming reception area, multiple service spaces, a full kitchen, and two bathrooms, providing functional space for customer-facing operations. Mechanical comfort is supported by gas forced-air heating and central electric cooling, and the site includes parking in both the front and rear for convenient customer and employee access. A detached garage adds additional storage capacity to support day-to-day business needs.

    The property sits on a 1.07-acre site at a busy intersection on Anderson’s south side, located at the corner of 53rd Street and Arbor Street. The corner positioning provides prominent exposure to passing traffic, and the overall site setup is designed to support easy in-and-out access.

    For an owner-user or investor, this configuration can support beauty, wellness, and personal service operations as-is, while the reception and multiple rooms can also work for professional offices or medical-adjacent uses depending on the tenant’s buildout needs. With on-site parking, year-round HVAC, and an on-site storage option, the property is positioned to support practical daily operations for a variety of commercial concepts.

    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 $34.1k $19.44
    − Vacancy −$3.3k −$1.89
    EGI $30.8k $17.55
    − OpEx −$7.7k −$4.39
    NOI $23.1k $13.17
    1,756 SF · lease $19.44/SF/yr · vacancy 9.70% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $330.3K
    $289.0K – $385.3K (±1% cap)
    NOI $23,119 @ 7.0% cap · market cap 5.91%
    Second Best
    Healthcare Medical
    $303.6K
    $265.6K – $354.2K (±1% cap)
    NOI $21,249 @ 7.0% cap · market cap 5.43%
    Theoretical Best
    Office A
    $404.7K
    $354.2K – $472.2K (±1% cap)
    NOI $28,332 @ 7.0% cap · market cap 7.25%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Madison
    State
    Indiana
    Longitude
    -85.660148
    Latitude
    40.061415

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    FAQs

    What type of property is this?
    Storefront property - Brick corner property with reception area, service rooms, kitchen, parking, and detached garage for flexible commercial use.
    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 $391,000.
    What are key features of this property?
    This property features: 1.07‑acre commercial site on the corner of 53rd St. & Arbor St.; 1,756 sq. ft. brick building built in 1964 with metal roof; Currently configured as a nail salon with a reception area, multiple service spaces, full kitchen, and 2 bathrooms
    (765) 274-9773
    We can help!
    Listing Contact
    Justin Puckett
    Real Estate License ID: RB14041687
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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