Flex Space at Signalized
2015 E Main St, Gas City, IN 46933
For Sale
Contact for pricing
An existing flex building is paired with a substantial land area, with any commercial use contingent on zoning approvals.
Property Size5,942 SF
Lot Size5.00 Acres
Price / SF$117.81
Days on Market15
Property Features for 2015 E Main St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Entitled
Property Use
Listing Agency:
Crandall Real Estate Group, LLC
Listed By:
Tyler Shirley · License IN RB14047517
(765) 677-0996
Source:
Crexi
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 5:19PM
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 Crandall Real Estate Group, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 2015 E Main St in Gas City, this flex property includes an existing 5,942-square-foot building and approximately 5 acres of land. The site occupies a signal-controlled corner on East Main Street, across from the Walmart Distribution Center. Interstate 69 is a few minutes away, providing regional highway access.
The property is currently zoned residential, and commercial use is not permitted under the present zoning. The owners are willing to consider a rezoning request; any change would require municipal approval. Buyers should confirm zoning, access, utilities, permitted uses, and development requirements with local authorities before proceeding.
The property is currently zoned residential, and commercial use is not permitted under the present zoning. The owners are willing to consider a rezoning request; any change would require municipal approval. Buyers should confirm zoning, access, utilities, permitted uses, and development requirements with local authorities before proceeding.
Key Highlights
- 5,942‑square‑foot existing flex space
- Approximately 5 acres
- Signal‑controlled corner on East Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,992
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,840
$759.8K
Cap Rate 7%
$542,743
$542.7K
Cap Rate 9%
$422,133
$422.1K
Market Conditions
NOI Build-Up for 5,942 SF
Gross rent
$65.6K $11.04/SF
− Vacancy
−$7.2K −$1.20/SF
EGI
$58.4K $9.84/SF
− OpEx
−$20.5K −$3.44/SF
NOI
$38.0K $6.39/SF
Area
Grant County, IN
Vacancy
10.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,840
Cap Rate 7%
$542,743
Cap Rate 9%
$422,133
Alternative Uses
Best Use
Flex RnD
$542.7K
$474.9K – $633.2K
NOI $37,992 @ 7.0% cap · market cap 5.43%
Second Best
Industrial
$501.9K
$439.2K – $585.6K
NOI $35,133 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,777 @ 7.0% cap · market cap 11.54%
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
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46933, IN
6,617
Population
2,939
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
91%
High-School Grad
11.0 sq mi
ZIP Area
602
Density / Sq Mi
$59,398
Median Household Income
$34,267
Median Earnings
$858
Median Rent
$123,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - An existing flex building is paired with a substantial land area, with any commercial use contingent on zoning approvals.
Where is this flex space located?
The property is located at 2015 E Main St Gas City, IN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5,942‑square‑foot existing flex space; Approximately 5 acres; Signal‑controlled corner on East Main Street
