Industrial Flex
2159 EARLY LN, Franklin, IN 46131
For Sale
New
Contact for pricing
Office and warehouse areas support a range of light industrial operations under IL zoning.
Property Size33,378 SF
Lot Size4.21 Acres
Price / SF$128.83
Days on Market4
Property Features for 2159 EARLY LN
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Dock-High Doors
Drive-In Doors
Truck Court Depth
Voltage
Three-Phase Power
Sprinkler System
Additional Details
Asking Price
Highway Access
Tenant in Place
Property Use
Amenities
private offices
conference rooms
full kitchen
kitchenette
Building Details
Year Built
Year Renovated
Buildings
Building Size
Listing Agency:
Breeden Commercial
Listed By:
Wendy Scgalski · License IN RB21001483
Source:
Crexi
Added: Nov 7
Changed: Nov 10
Last Checked: Nov 10 at 2:10PM
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 Breeden Commercial
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.
This industrial flex property combines a 33,378-square-foot facility with an adjoining paved parcel, for 4.21 acres in total. Built in 2001 and expanded in 2018, the building contains approximately 16,455 square feet of finished office space and 16,923 square feet of warehouse area. The offices include 19 private rooms, conference rooms on both floors, a full kitchen, and a kitchenette. Warehouse features include clear heights from 20'8" to 21'9", reaching 23'5" on the north side; two recessed dock-high doors with levelers and seals; and a 14' x 12' drive-in door. A third dock door can be added. The property also has a 140-foot truck court with semi turnaround, wet-pipe sprinklers, three-phase 120/208V power, and approximately 58 parking spaces.
Located in Franklin, the site is 0.6 miles from Interstate 65 and zoned IL (Industrial: Light). The building is occupied through December 2026 and available January 1, 2027.
Located in Franklin, the site is 0.6 miles from Interstate 65 and zoned IL (Industrial: Light). The building is occupied through December 2026 and available January 1, 2027.
Key Highlights
- 33,378‑square‑foot facility with approximately 16,455 square feet of office and 16,923 square feet of warehouse space
- 4.21 total acres, including an adjoining 1.67‑acre paved parcel
- Warehouse clear heights of 20'8" to 21'9", with up to 23'5" on the north side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$297,123
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,942,460
$5.9M
Cap Rate 7%
$4,244,614
$4.2M
Cap Rate 9%
$3,301,367
$3.3M
Market Conditions
NOI Build-Up for 33,378 SF
Gross rent
$500.7K $15.00/SF
− Vacancy
−$43.6K −$1.31/SF
EGI
$457.1K $13.70/SF
− OpEx
−$160.0K −$4.79/SF
NOI
$297.1K $8.90/SF
Area
Johnson County, IN
Vacancy
8.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,942,460
Cap Rate 7%
$4,244,614
Cap Rate 9%
$3,301,367
Alternative Uses
Best Use
Flex RnD
$4.24M
$3.71M – $4.95M
NOI $297,123 @ 7.0% cap · market cap 6.91%
Second Best
Warehouse
$2.59M
$2.26M – $3.02M
NOI $181,182 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$8.41M
$7.36M – $9.81M
NOI $588,788 @ 7.0% cap · market cap 13.69%
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
21 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46131, IN
32,869
Population
13,151
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
261
Density / Sq Mi
$81,914
Median Household Income
$44,797
Median Earnings
$1,114
Median Rent
$227,800
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 - Office and warehouse areas support a range of light industrial operations under IL zoning.
Where is this flex space located?
The property is located at 2159 EARLY LN Franklin, IN.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 33,378‑square‑foot facility with approximately 16,455 square feet of office and 16,923 square feet of warehouse space; 4.21 total acres, including an adjoining 1.67‑acre paved parcel; Warehouse clear heights of 20'8" to 21'9", with up to 23'5" on the north side
