Building Details

Building Size 1,800 SF

Year Built 1996

Buildings 1

Listing Agency: Coldwell Banker Lingle

Listed By: Kyle Tom · License #RB14021834 Show Phone

Source: Cbcworldwide

Added: Nov 4 Last Checked: Nov 6 at 5:07AM

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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 Coldwell Banker Lingle

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Investment Insights

Based on property information with market context.

This 1,800-square-foot automotive property includes office space and a bathroom, along with a showroom finished with fresh paint. A newer HVAC system, overhead garage door, secured front entry, and alarm system are also in place. The building dates to 1996 and has a recently paved parking area.

The property sits across from Richmond Power & Light on Straightline Pike in Richmond, Indiana. Its configuration combines vehicle access with dedicated interior space for office and showroom functions.

Key Highlights

• 1,800 square feet including office space and a bathroom
• Showroom has been freshly painted
• Overhead garage door, secured front door, and alarm system

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,259

Cap Rate

7.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$245,180 $245.2K

Cap Rate 7%

$175,129 $175.1K

Cap Rate 9%

$136,211 $136.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$19.7K $10.92/SF

− Vacancy

−$2.1K −$1.19/SF

EGI

$17.5K $9.73/SF

− OpEx

−$5.3K −$2.92/SF

NOI

$12.3K $6.81/SF

Area

Wayne County, IN

Vacancy

10.90%

Lease Rate

$10.92 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$245,180

Cap Rate 7%

$175,129

Cap Rate 9%

$136,211

Alternative Uses

Best Use

Mixed Use

$225.6K

$197.4K – $263.3K (±1% cap)

NOI $15,795 @ 7.0% cap · market cap 9.35%

Second Best

Industrial

$175.1K

$153.2K – $204.3K (±1% cap)

NOI $12,259 @ 7.0% cap · market cap 7.25%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Interstate Motors Car Dealership

Suggested Use

Top Pick Restaurant Dental Office Building Supply Big Box & Wholesale Store Hair Salon Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

87

Businesses Nearby

Explore this area Business Placement

Demographics for 47374, IN

45,304

Population

21,553

Households

2.1

Avg Household Size

41

Median Age

22%

College-Educated

88%

High-School Grad

119.8 sq mi

ZIP Area

378

Density / Sq Mi

$52,566

Median Household Income

$34,168

Median Earnings

$816

Median Rent

$121,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A paved parking lot and garage access support customer-facing and vehicle-oriented operations.

Where is this mixed-use property located?

The property is located at 1900 Straightline Pike Richmond, IN.

What is the asking price?

The asking price for this property is $169,000.

What are key features of this property?

This property features: 1,800 square feet including office space and a bathroom; Showroom has been freshly painted; Overhead garage door, secured front door, and alarm system