Multifamily
For Sale
Contact for pricing
2505 East 10th Street, Anderson, IN 46012
Multifamily property built in 1966 in Anderson, Indiana.
Property Size35,000 SF
Price / SF$91.37
Days on Market16
Property Features for 2505 East 10th Street
General Information
Standard status
Active
Size
35,000 SF
Class
C
Total Parking Spaces
80
Property subtype
Multifamily
Zoning
multifamily
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$276,884
Building Details
Year Built
1966
Year Renovated
2022
Buildings
5
Units
36
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Oklahoma City, Oklahoma
Listed By:
Derek Wilson · License #OK
Source:
Crexi
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 9 at 10:01AM
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 Cushman & Wakefield - Oklahoma City, Oklahoma
Investment Insights
Based on property information with market context.
This multifamily property at 2505 East 10th Street in Anderson, Indiana was built in 1966. The property size is listed as 35,000 SF, offering a basis for income-oriented occupancy planning and tenant fit evaluation.
The property is presented as a for-sale opportunity. For buyers or lenders underwriting the asset, reviewing the existing building layout, systems, and unit configuration will be important given the property’s age and total building size.
Prospective purchasers should conduct appropriate due diligence around physical condition, tenancy, and operating assumptions to confirm how the 35,000 SF can be best utilized for current or future rental objectives.
The property is presented as a for-sale opportunity. For buyers or lenders underwriting the asset, reviewing the existing building layout, systems, and unit configuration will be important given the property’s age and total building size.
Prospective purchasers should conduct appropriate due diligence around physical condition, tenancy, and operating assumptions to confirm how the 35,000 SF can be best utilized for current or future rental objectives.
Key Highlights
- Built in 1966
- 35,000 SF multifamily property
- For sale at 2505 East 10th Street, Anderson, IN 46012
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
$268,503
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
8.40%
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%
$5,370,060
$5.4M
Cap Rate 7%
$3,835,757
$3.8M
Cap Rate 9%
$2,983,367
$3.0M
Market Conditions
NOI Build-Up for 35,000 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
$516.6K $14.76/SF
− Vacancy
−$28.4K −$0.81/SF
EGI
$488.2K $13.95/SF
− OpEx
−$219.7K −$6.28/SF
NOI
$268.5K $7.67/SF
Area
Madison County, IN
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$5,370,060
Cap Rate 7%
$3,835,757
Cap Rate 9%
$2,983,367
Alternative Uses
Best Use
Apartment 5plus
$3.84M
$3.36M – $4.48M
NOI $268,503 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.07M
$7.06M – $9.41M
NOI $564,695 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 46012, IN
19,108
Population
9,659
Households
2
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
32.0 sq mi
ZIP Area
597
Density / Sq Mi
$58,538
Median Household Income
$36,017
Median Earnings
$982
Median Rent
$149,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property built in 1966 in Anderson, Indiana.
Where is this multifamily property located?
The property is located at 2505 East 10th Street Anderson, IN.
What is the asking price?
The asking price for this property is $3,198,000.
What are key features of this property?
This property features: Built in 1966; 35,000 SF multifamily property; For sale at 2505 East 10th Street, Anderson, IN 46012
