Industrial Warehouse
For Sale
$94,000
Pending
206 S Washington Street, Frankton, IN 46044
Warehouse property with I-1 Industrial zoning and forced-air heating.
Property Size1,680 SF
Days on Market67
Property Features for 206 S Washington Street
General Information
Standard status
Pending
Size
1,680 SF
Zoning
I-1 Industrial
Amenities
Forced Air
Gravel
Building Details
Building Size
1,680 SF
Stories
1
Listing Agency:
Listed By:
Bob Morris
Source:
Evrealestate
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 2:04PM
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 Bob Morris
Investment Insights
Based on property information with market context.
This warehouse property is located at 206 S Washington Street in Frankton, Indiana. The property carries I-1 Industrial zoning and includes forced-air heating. Gravel is identified as an exterior feature. GPS navigation can be used for directions, and the property is in Madison County.
Key Highlights
- I‑1 Industrial zoning
- Forced‑air heating
- Gravel exterior
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
$8,429
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
8.97%
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%
$168,580
$168.6K
Cap Rate 7%
$120,414
$120.4K
Cap Rate 9%
$93,656
$93.7K
Market Conditions
NOI Build-Up for 1,680 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
$10.2K $6.06/SF
− Vacancy
−$265 −$0.16/SF
EGI
$9.9K $5.90/SF
− OpEx
−$1.5K −$0.89/SF
NOI
$8.4K $5.02/SF
Area
Madison County, IN
Vacancy
2.60%
Lease Rate
$6.06 /SF/Yr
Expense Ratio
15.00%
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%
$168,580
Cap Rate 7%
$120,414
Cap Rate 9%
$93,656
Alternative Uses
Best Use
Warehouse
$120.4K
$105.4K – $140.5K
NOI $8,429 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$387.2K
$338.8K – $451.8K
NOI $27,105 @ 7.0% cap · market cap 28.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46044, IN
2,912
Population
1,121
Households
2.6
Avg Household Size
42
Median Age
15%
College-Educated
93%
High-School Grad
21.6 sq mi
ZIP Area
135
Density / Sq Mi
$75,125
Median Household Income
$46,155
Median Earnings
$1,021
Median Rent
$159,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- FrankKon Self Storage — 50 S 11th St, Frankton, IN 46044
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property with I-1 Industrial zoning and forced-air heating.
Where is this warehouse located?
The property is located at 206 S Washington Street Frankton, IN.
What is the asking price?
The asking price for this property is $94,000.
What are key features of this property?
This property features: I‑1 Industrial zoning; Forced‑air heating; Gravel exterior
