Turnkey Trophy & Awards Retail
For Sale
$299,900
1916 S Wayne St, Auburn, IN 46706
Turnkey trophy and awards business with included real estate on two commercial lots along SR 8.
Property Size1,620 SF
Price / SF$185.12
Days on Market51
Property Features for 1916 S Wayne St
General Information
Standard status
Active
Size
1,620 SF
Building Details
Year Built
1900
Listing Agency:
CENTURY 21 Bradley Realty, Inc
Listed By:
Tyler Secrist · License #RB18000383
(260) 573-5748
Source:
Spencerchildersgroup
Added: Jul 24
Changed: Sep 8
Last Checked: Sep 12 at 1:26PM
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 CENTURY 21 Bradley Realty, Inc
Investment Insights
Based on property information with market context.
This offering combines established retail operations with the associated real estate in one package. The sale includes the operating Trophy & Awards business along with furniture, fixtures, equipment, and goodwill, supporting a turnkey transition for a qualified buyer. The business has served the Auburn community and surrounding area for over 50 years, with a customer base built through repeat customers and referrals.
The property is situated on two commercial lots along Wayne Street (SR 8), described as being positioned on one of Auburn’s primary corridors with visibility and traffic flow entering and exiting the city.
In addition to the business and real estate, the offering includes equipment and an extra lot that may provide flexibility for parking, future expansion, or redevelopment. Financial information is available to qualified buyers.
The property is situated on two commercial lots along Wayne Street (SR 8), described as being positioned on one of Auburn’s primary corridors with visibility and traffic flow entering and exiting the city.
In addition to the business and real estate, the offering includes equipment and an extra lot that may provide flexibility for parking, future expansion, or redevelopment. Financial information is available to qualified buyers.
Key Highlights
- Turnkey trophy and awards business with included real estate
- Business has served the Auburn community for over 50 years
- Offered along Wayne Street (SR 8) on two commercial lots
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
$27,059
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
9.02%
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%
$541,180
$541.2K
Cap Rate 7%
$386,557
$386.6K
Cap Rate 9%
$300,656
$300.7K
Market Conditions
NOI Build-Up for 1,620 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
$40.4K $24.96/SF
− Vacancy
−$1.8K −$1.10/SF
EGI
$38.7K $23.86/SF
− OpEx
−$11.6K −$7.16/SF
NOI
$27.1K $16.70/SF
Area
DeKalb County, IN
Vacancy
4.40%
Lease Rate
$24.96 /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%
$541,180
Cap Rate 7%
$386,557
Cap Rate 9%
$300,656
Alternative Uses
Best Use
Retail
$386.6K
$338.2K – $451.0K
NOI $27,059 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.33M
$1.16M – $1.55M
NOI $93,018 @ 7.0% cap · market cap 31.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 17%
Circle K
Shops & Services
13,303 visits/mo
0.1 miles
Pizza King
Dining
2,766 visits/mo
0.2 miles
Demographics for 46706, IN
19,995
Population
8,336
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
95%
High-School Grad
87.9 sq mi
ZIP Area
227
Density / Sq Mi
$76,288
Median Household Income
$43,617
Median Earnings
$829
Median Rent
$194,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Turnkey trophy and awards business with included real estate on two commercial lots along SR 8.
Where is this retail space located?
The property is located at 1916 S Wayne St Auburn, IN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Turnkey trophy and awards business with included real estate; Business has served the Auburn community for over 50 years; Offered along Wayne Street (SR 8) on two commercial lots
