Three-Building Industrial
2 Costin Dr, Hebron, IN 46341
For Sale
New
$2,399,000
I-1-zoned property includes overhead cranes in each warehouse and more than 3 acres of land.
Property Size27,424 SF
Price / SF$87.48
Days on Market2
Property Features for 2 Costin Dr
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Warehouse Space
Property Use
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Latitude Commercial
Listed By:
Antony Miocic · License IN RB16000975
(317) 658-5005
Source:
Latitudeco
Added: Nov 14
Last Checked: Nov 14 at 2:26PM
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 Latitude Commercial
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Investment Insights
Based on property information with market context.
The property comprises three industrial warehouses built in 1991, set on more than 3 acres and zoned I-1. Each building includes cranes with capacities ranging from 2 to 10 tons. The site is less than 10 minutes from I-65.
Key Highlights
- Three industrial warehouses built in 1991
- More than 3 acres of land, zoned I‑1
- Each building includes cranes with capacities ranging from 2 to 10 tons
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,324
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,646,480
$2.6M
Cap Rate 7%
$1,890,343
$1.9M
Cap Rate 9%
$1,470,267
$1.5M
Market Conditions
NOI Build-Up for 27,424 SF
Gross rent
$164.5K $6.00/SF
− Vacancy
−$8.9K −$0.32/SF
EGI
$155.7K $5.68/SF
− OpEx
−$23.4K −$0.85/SF
NOI
$132.3K $4.83/SF
Area
Porter County, IN
Vacancy
5.39%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,646,480
Cap Rate 7%
$1,890,343
Cap Rate 9%
$1,470,267
Alternative Uses
Best Use
Warehouse
$1.89M
$1.65M – $2.21M
NOI $132,324 @ 7.0% cap · market cap 5.52%
Second Best
Industrial
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 4.54%
Theoretical Best
Healthcare Medical
$10.39M
$9.09M – $12.13M
NOI $727,574 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46341, IN
10,518
Population
4,179
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
94%
High-School Grad
95.5 sq mi
ZIP Area
110
Density / Sq Mi
$99,444
Median Household Income
$55,298
Median Earnings
$897
Median Rent
$248,900
Median Home Value
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Market
Average Price Trend$/SF for Warehouses in Porter County, IN
Properties on Market for Warehouses in Porter County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - I-1-zoned property includes overhead cranes in each warehouse and more than 3 acres of land.
Where is this warehouse located?
The property is located at 2 Costin Dr Hebron, IN.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Three industrial warehouses built in 1991; More than 3 acres of land, zoned I‑1; Each building includes cranes with capacities ranging from 2 to 10 tons
