Mixed-Use Property with
For Sale
$600,000
1625 Market St, Charlestown, IN 47111
Commercially zoned site combines leased retail and residential space with self-storage operations.
Property Size3,037 SF
Lot Size0.82 Acres
Price / SF$197.56
Days on Market53
Property Features for 1625 Market St
General Information
Standard status
Active
Size
3,037 SF
Lot size
0.82 Acres
Property subtype
Industrial
Zoning
C2
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Self-Storage Units
38
Listing Agency:
Keller Williams Collective
(502) 381-1059
Listed By:
Ryan Dorazil
(502) 381-1059
Source:
Kcrea.resimplifi
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 2:09AM
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 Collective
Investment Insights
Based on property information with market context.
This mixed-use property at 1625 Market St includes 38 self-storage units, a 1,474-square-foot retail building, and a 1,563-square-foot residence with two bedrooms and two bathrooms. The retail component and residence are leased, while the storage units provide a separate operating component. The improvements occupy a 0.82-acre commercial site with C2 zoning and all city utilities.
Market Street provides access to the property in Charlestown, Indiana. The offering brings together retail, residential, and self-storage uses within one 3,037-square-foot property. Existing leases and multiple operating components create a diversified configuration for commercial real estate ownership.
Market Street provides access to the property in Charlestown, Indiana. The offering brings together retail, residential, and self-storage uses within one 3,037-square-foot property. Existing leases and multiple operating components create a diversified configuration for commercial real estate ownership.
Key Highlights
- 38 self‑storage units
- 1,474 SF leased retail building
- 1,563 SF leased 2‑bedroom, 2‑bath residence
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
$36,659
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
6.11%
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%
$733,180
$733.2K
Cap Rate 7%
$523,700
$523.7K
Cap Rate 9%
$407,322
$407.3K
Market Conditions
NOI Build-Up for 3,037 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
$54.7K $18.00/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$52.4K $17.24/SF
− OpEx
−$15.7K −$5.17/SF
NOI
$36.7K $12.07/SF
Area
Clark County, IN
Vacancy
4.20%
Lease Rate
$18.00 /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%
$733,180
Cap Rate 7%
$523,700
Cap Rate 9%
$407,322
Alternative Uses
Best Use
Retail
$523.7K
$458.2K – $611.0K
NOI $36,659 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$457.3K
$400.2K – $533.5K
NOI $32,012 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$883.0K
$772.6K – $1.03M
NOI $61,809 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 47111, IN
16,972
Population
7,011
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
91%
High-School Grad
86.0 sq mi
ZIP Area
197
Density / Sq Mi
$93,418
Median Household Income
$51,170
Median Earnings
$906
Median Rent
$261,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned site combines leased retail and residential space with self-storage operations.
Where is this mixed-use property located?
The property is located at 1625 Market St Charlestown, IN.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 38 self‑storage units; 1,474 SF leased retail building; 1,563 SF leased 2‑bedroom, 2‑bath residence
