Live-Work Space with Roof
For Sale
Contact for pricing
28 West 9th Street, Anderson, IN 46016
Newly renovated two-bedroom living space with den and walk-out roof deck, with retail or office capability below in the CBD.
Property Size3,868 SF
Price / SF$151.24
Days on Market101
Property Features for 28 West 9th Street
General Information
Standard status
Active
Size
3,868 SF
Property subtype
Retail
Zoning
B-2
Amenities
walk-out roof deck
Listing Agency:
Coombes Real Estate
Listed By:
Robert Coombes · License #RB17000978
Source:
Crexi
Added: Jul 23
Changed: Oct 25
Last Checked: Oct 30 at 1:04PM
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 Coombes Real Estate
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Investment Insights
Based on property information with market context.
This live-work space features newly renovated two-bedroom living accommodations with a den on the upper level, plus a walk-out roof deck. The first floor offers retail or office capability to support flexible day-to-day use or tenant-friendly operations.
Located in the Central Business District in Anderson, IN, the property is one block away from the city square and Meridian and Main Streets, placing it within a close-in commercial environment.
The property size is 3,868 square feet, providing room for both upper-level living and first-floor business use in a single configuration.
Located in the Central Business District in Anderson, IN, the property is one block away from the city square and Meridian and Main Streets, placing it within a close-in commercial environment.
The property size is 3,868 square feet, providing room for both upper-level living and first-floor business use in a single configuration.
Key Highlights
- Central Business District location in Anderson, IN
- Newly renovated two‑bedroom living space with den
- Walk‑out roof deck on the upper level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,925
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,018,500
$1.0M
Cap Rate 7%
$727,500
$727.5K
Cap Rate 9%
$565,833
$565.8K
Market Conditions
NOI Build-Up for 3,868 SF
Gross rent
$75.2K $19.44/SF
− Vacancy
−$7.3K −$1.89/SF
EGI
$67.9K $17.55/SF
− OpEx
−$17.0K −$4.39/SF
NOI
$50.9K $13.17/SF
Area
Madison County, IN
Vacancy
9.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,018,500
Cap Rate 7%
$727,500
Cap Rate 9%
$565,833
Alternative Uses
Best Use
Office B
$727.5K
$636.6K – $848.8K
NOI $50,925 @ 7.0% cap · market cap 8.71%
Second Best
Mixed Use
$547.0K
$478.7K – $638.2K
NOI $38,293 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$891.5K
$780.1K – $1.04M
NOI $62,407 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
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Business Placement
Demographics for 46016, IN
17,686
Population
9,225
Households
1.9
Avg Household Size
36
Median Age
10%
College-Educated
80%
High-School Grad
6.4 sq mi
ZIP Area
2,763
Density / Sq Mi
$35,543
Median Household Income
$28,753
Median Earnings
$864
Median Rent
$66,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Live-work space - Newly renovated two-bedroom living space with den and walk-out roof deck, with retail or office capability below in the CBD.
Where is this live-work space located?
The property is located at 28 West 9th Street Anderson, IN.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Central Business District location in Anderson, IN; Newly renovated two‑bedroom living space with den; Walk‑out roof deck on the upper level
