Manufacturing Facility with
2332 Cathy Ln, Jasper, IN 47546
For Sale
Contact for pricing
The property serves as Ditto Sales’ headquarters and sole operating site, with a proposed absolute net lease at closing.
Property Size151,855 SF
Lot Size9.68 Acres
Price / SF$64.71
Days on Market21
Property Features for 2332 Cathy Ln
General Information
Standard status
Size
Lot size
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Build-Out
Property Use
Building Details
Year Built
Building Size
Listing Agency:
Northmarq - LA
Listed By:
Greg Paparis · License IN #02024518
Source:
Crexi
Added: Oct 20
Changed: Nov 9
Last Checked: Nov 8 at 4:37PM
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 Northmarq - LA
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Investment Insights
Based on property information with market context.
The 151,855-square-foot manufacturing property occupies 9.68 acres and includes 18,615 square feet of office space. Built in 1990, the facility was expanded from 1996 through 2005 and serves as the headquarters and sole operating location of Ditto Sales, Inc. DBA Versteel. Approximately 130 employees work at the site, where the company conducts manufacturing operations and distributes furniture hardware and components.
The offering is structured as a sale-leaseback. At closing, Ditto Sales is to enter a 20-year absolute net lease with no landlord responsibilities, 2.5% annual increases, and four five-year extension options.
The offering is structured as a sale-leaseback. At closing, Ditto Sales is to enter a 20-year absolute net lease with no landlord responsibilities, 2.5% annual increases, and four five-year extension options.
Key Highlights
- 151,855‑square‑foot manufacturing facility on 9.68 acres
- Includes 18,615 square feet of office space
- Constructed in 1990, with expansions completed between 1996‑2005
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$677,640
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,552,800
$13.6M
Cap Rate 7%
$9,680,571
$9.7M
Cap Rate 9%
$7,529,333
$7.5M
Market Conditions
NOI Build-Up for 151,855 SF
Gross rent
$1.04M $6.84/SF
− Vacancy
−$70.6K −$0.47/SF
EGI
$968.1K $6.37/SF
− OpEx
−$290.4K −$1.91/SF
NOI
$677.6K $4.46/SF
Area
Dubois County, IN
Vacancy
6.80%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,552,800
Cap Rate 7%
$9,680,571
Cap Rate 9%
$7,529,333
Alternative Uses
Best Use
Industrial
$9.68M
$8.47M – $11.29M
NOI $677,640 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$41.86M
$36.63M – $48.84M
NOI $2,930,194 @ 7.0% cap · market cap 29.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
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Business Placement
Demographics for 47546, IN
22,445
Population
10,080
Households
2.2
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
121.6 sq mi
ZIP Area
185
Density / Sq Mi
$67,806
Median Household Income
$41,824
Median Earnings
$767
Median Rent
$232,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - The property serves as Ditto Sales’ headquarters and sole operating site, with a proposed absolute net lease at closing.
Where is this manufacturing property located?
The property is located at 2332 Cathy Ln Jasper, IN.
What is the asking price?
The asking price for this property is $9,825,912.
What are key features of this property?
This property features: 151,855‑square‑foot manufacturing facility on 9.68 acres; Includes 18,615 square feet of office space; Constructed in 1990, with expansions completed between 1996‑2005
