Greenwood Office Building For
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200 N Emerson Ave, Greenwood, IN 46143
3,440 SF office building with 18 parking spots.
Property Size3,440 SF
Lot Size0.32 Acres
Price / SF$202.03
Days on Market141
Property Features for 200 N Emerson Ave
General Information
Standard status
Active
Size
3,440 SF
Lot size
0.32 Acres
Property subtype
OFFICE
Listing Agency:
CBRE | Indianapolis
(317) 269-1000
Listed By:
Jeff Merritt · License #RB14033827
(317) 269-1040
Source:
Moodyscre
Added: May 26
Changed: Oct 8
Last Checked: Oct 12 at 10:48PM
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 CBRE | Indianapolis
Investment Insights
Based on property information with market context.
This commercial property features a 3,440-square-foot office building situated on a 0.32-acre lot. Constructed in 1990, the building is equipped with three HVAC systems. A new roof was installed in 2024. The property has 18 parking spots. It is zoned CM (Commercial Medium).
Key Highlights
- New roof in 2024
- Zoned CM (Commercial Medium)
- 18 Parking spots available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,421
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,420
$868.4K
Cap Rate 7%
$620,300
$620.3K
Cap Rate 9%
$482,456
$482.5K
Market Conditions
NOI Build-Up for 3,440 SF
Gross rent
$68.1K $19.80/SF
− Vacancy
−$10.2K −$2.97/SF
EGI
$57.9K $16.83/SF
− OpEx
−$14.5K −$4.21/SF
NOI
$43.4K $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%
$868,420
Cap Rate 7%
$620,300
Cap Rate 9%
$482,456
Alternative Uses
Best Use
Office B
$620.3K
$542.8K – $723.7K
NOI $43,421 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 46143, IN
62,618
Population
23,417
Households
2.7
Avg Household Size
36
Median Age
36%
College-Educated
93%
High-School Grad
49.4 sq mi
ZIP Area
1,268
Density / Sq Mi
$89,401
Median Household Income
$51,213
Median Earnings
$1,427
Median Rent
$295,400
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 Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - 3,440 SF office building with 18 parking spots.
Where is this office building located?
The property is located at 200 N Emerson Ave Greenwood, IN.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: New roof in 2024; Zoned CM (Commercial Medium); 18 Parking spots available
