Connected Office
For Sale
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1602 W Smith Valley Road #2, Greenwood, IN 46142
Two private offices can be leased separately or together, with shared support areas and utilities included.
Property Size2,002 SF
Price / SF$0.17
Days on Market64
Property Features for 1602 W Smith Valley Road #2
General Information
Standard status
Active
Size
2,002 SF
Property subtype
Office
Additional Details
Property Use
Office
Amenities
shared waiting/conference area
kitchen
restrooms
Building Details
Year Built
1956
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Andy Ludlow · License #RB15001428
(317) 372-6147
Source:
Locksteprealty
Added: Aug 28
Changed: Oct 28
Last Checked: Oct 28 at 3:10PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
Two 10-by-10-foot private offices are available at 1602 W Smith Valley Road in Greenwood. A connecting door allows the spaces to function together or be occupied separately. Luxury vinyl plank flooring is installed in the offices, and shared facilities include a waiting and conference area, kitchen, and restrooms.
Each office comes with one reserved parking space in the paved lot. Utilities and internet are included, and the stated lease term is one year.
Each office comes with one reserved parking space in the paved lot. Utilities and internet are included, and the stated lease term is one year.
Key Highlights
- Two private offices, each measuring 10 by 10 feet
- Connecting door allows the offices to be combined or leased separately
- Shared waiting and conference area, kitchen, and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,270
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,400
$505.4K
Cap Rate 7%
$361,000
$361.0K
Cap Rate 9%
$280,778
$280.8K
Market Conditions
NOI Build-Up for 2,002 SF
Gross rent
$39.6K $19.80/SF
− Vacancy
−$5.9K −$2.97/SF
EGI
$33.7K $16.83/SF
− OpEx
−$8.4K −$4.21/SF
NOI
$25.3K $12.62/SF
Area
Johnson County, IN
Vacancy
15.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,400
Cap Rate 7%
$361,000
Cap Rate 9%
$280,778
Alternative Uses
Best Use
Office B
$361.0K
$315.9K – $421.2K
NOI $25,270 @ 7.0% cap · market cap 7,220.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$504.5K
$441.4K – $588.6K
NOI $35,315 @ 7.0% cap · market cap 10,090.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
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Business Placement
Demographics for 46142, IN
32,052
Population
14,396
Households
2.2
Avg Household Size
40
Median Age
39%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,151
Density / Sq Mi
$85,611
Median Household Income
$47,831
Median Earnings
$1,122
Median Rent
$266,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Two private offices can be leased separately or together, with shared support areas and utilities included.
Where is this office unit located?
The property is located at 1602 W Smith Valley Road #2 Greenwood, IN.
What are key features of this property?
This property features: Two private offices, each measuring 10 by 10 feet; Connecting door allows the offices to be combined or leased separately; Shared waiting and conference area, kitchen, and restrooms
