Auto Repair Building with
For Sale
$1,500,000
2660 Hawcreek Boulevard, Columbus, IN 47201
Commercial Sale, Columbus, IN
Property Size9,653 SF
Lot Size1.39 Acres
Price / SF$155.39
Days on Market184
Property Features for 2660 Hawcreek Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Fencing
Chain Link
Elementary school district
Bartholomew Con School Corp
Middle school district
Bartholomew Con School Corp
High school district
Bartholomew Con School Corp
Directions
GPS Friendly
Subdivision
314 - Bartholomew - Columbus West
Standard status
Active
APN
039618140000202005
Lot size
1.39 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lot 3 - Terminal Realty Minor Plat (P/330B) Mp 096.0000202.0000
Legal Description
Lot 3 - Terminal Realty Minor Plat (P/330B) Mp 096.0000202.0000
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas
Amenities
service desk
waiting room
private office
employee bathroom
Building Details
Year built
1952
Floors in Building
1
Listing Agency:
RE/MAX Real Estate Prof · RE/MAX International
(812) 372-2200
Listed By:
Cindy Patchett · License #RB14041891
(812) 390-9963
Added: Mar 12
Changed: Aug 28
Last Checked: Sep 11 at 4:06AM
MLS# 22088842
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1952 commercial building occupies 1.39 acres at 2660 Hawcreek Boulevard in Columbus, Indiana. The existing automotive layout includes a customer service counter, waiting area, private office, employee restroom, tire-service capability, storage areas, and six operating lifts. Additional overhead doors and bay space support future expansion within the shop. The property is zoned Commercial and includes chain-link fencing.
Recent property improvements include a new roof completed in 2025, an electrical upgrade, and added gravel in the rear parking area. Natural gas is available. The U-Haul operation is excluded from the sale, while other equipment conveys as outlined in the supplemental documents.
Recent property improvements include a new roof completed in 2025, an electrical upgrade, and added gravel in the rear parking area. Natural gas is available. The U-Haul operation is excluded from the sale, while other equipment conveys as outlined in the supplemental documents.
Key Highlights
- Six automotive lifts currently in operation
- 1.39‑acre commercial property at 2660 Hawcreek Boulevard
- New roof completed in 2025
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
$68,676
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
4.58%
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%
$1,373,520
$1.4M
Cap Rate 7%
$981,086
$981.1K
Cap Rate 9%
$763,067
$763.1K
Market Conditions
NOI Build-Up for 9,653 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
$86.9K $9.00/SF
− Vacancy
−$6.1K −$0.63/SF
EGI
$80.8K $8.37/SF
− OpEx
−$12.1K −$1.26/SF
NOI
$68.7K $7.11/SF
Area
Bartholomew County, IN
Vacancy
7.00%
Lease Rate
$9.00 /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%
$1,373,520
Cap Rate 7%
$981,086
Cap Rate 9%
$763,067
Alternative Uses
Best Use
Warehouse
$981.1K
$858.5K – $1.14M
NOI $68,676 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$881.2K
$771.1K – $1.03M
NOI $61,686 @ 7.0% cap · market cap 4.11%
Theoretical Best
Healthcare Medical
$1.87M
$1.63M – $2.18M
NOI $130,628 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Service bays
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47201, IN
45,969
Population
20,924
Households
2.2
Avg Household Size
36
Median Age
36%
College-Educated
92%
High-School Grad
201.2 sq mi
ZIP Area
228
Density / Sq Mi
$82,667
Median Household Income
$46,243
Median Earnings
$1,159
Median Rent
$217,600
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
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Frequently Asked Questions
What type of property is this?
Auto shop - Configured for automotive service with tire operations, six lifts, storage areas, and expansion space through additional bays and overhead doors.
Where is this auto shop located?
The property is located at 2660 Hawcreek Boulevard Columbus, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six automotive lifts currently in operation; 1.39‑acre commercial property at 2660 Hawcreek Boulevard; New roof completed in 2025
