Retail Building For
For Sale
Contact for pricing
202 N Harrison St, Alexandria, IN 46001
4,411 SF retail building available for purchase.
Property Size4,411 SF
Price / SF$125
Days on Market168
Property Features for 202 N Harrison St
General Information
Standard status
Active
Size
4,411 SF
Property subtype
Retail
Building Details
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
The Zacher Company
(260) 704-5409
Listed By:
Dan Gabbard · License #RB 18001659
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 10 at 11:33AM
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 The Zacher Company
Investment Insights
Based on property information with market context.
A 4,411 square foot building is available for sale. The property is suitable for retail use.
Key Highlights
- 4,411 SF Building
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
$41,684
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
7.56%
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%
$833,680
$833.7K
Cap Rate 7%
$595,486
$595.5K
Cap Rate 9%
$463,156
$463.2K
Market Conditions
NOI Build-Up for 4,411 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
$66.2K $15.00/SF
− Vacancy
−$6.6K −$1.50/SF
EGI
$59.5K $13.50/SF
− OpEx
−$17.9K −$4.05/SF
NOI
$41.7K $9.45/SF
Area
Madison County, IN
Vacancy
10.00%
Lease Rate
$15.00 /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%
$833,680
Cap Rate 7%
$595,486
Cap Rate 9%
$463,156
Alternative Uses
Best Use
Retail
$595.5K
$521.1K – $694.7K
NOI $41,684 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.6K – $1.19M
NOI $71,168 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Groceries 6%
Casey's General Store
Shops & Services
9,690 visits/mo
0.4 miles
Dollar General
Shops & Services
6,137 visits/mo
0.5 miles
PNC Bank
Shops & Services
2,819 visits/mo
0.1 miles
Huntington Bank
Shops & Services
2,280 visits/mo
0.1 miles
Super Wash
Shops & Services
2,232 visits/mo
0.3 miles
Demographics for 46001, IN
10,676
Population
5,065
Households
2.1
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
77.2 sq mi
ZIP Area
138
Density / Sq Mi
$66,379
Median Household Income
$42,283
Median Earnings
$875
Median Rent
$136,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 4,411 SF retail building available for purchase.
Where is this retail space located?
The property is located at 202 N Harrison St Alexandria, IN.
What is the asking price?
The asking price for this property is $551,375.
What are key features of this property?
This property features: 4,411 SF Building
