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 Market82
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: Oct 11
Last Checked: Oct 14 at 9:16PM
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
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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 / Yr
$268,503
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
311
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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
