Operating Retail
2902 Broadway Street Anderson, IN 46012
2902 Broadway Street, Anderson, IN, 46012
$550,000
For Sale
$550,000
For sale operating retail storefront with a current lease in place through May 2032.
Property Size3,022 SF
Price / SF$181
Days on Market73
Property Features for 2902 Broadway Street
General Information
- Standard status
- Active
- Size
- 3,022 SF
- Property subtype
- Retail
Listing agency
Double Realty LLC
(317) 701-5159
Listed by
Tak-Po Fong
(317) 701-5159
Source
Xome
Added: May 10 Updated: Jul 21 at 2:46AM Checked: Jul 21 at 3:09AM
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 Double Realty LLC
Investment Insights
Based on property information with market context.
This operating retail storefront is currently leased and in use as a functioning business. Please do not disturb current tenants. The existing lease expires May 2032, and the property is offered for sale subject to that tenancy.
The property is located at 2902 Broadway Street in Anderson, Indiana, and is sized at 3,022 square feet. The purchase would be aligned with an owner looking to acquire a retail asset with an in-place lease and an established operating status through the lease term.
The property is located at 2902 Broadway Street in Anderson, Indiana, and is sized at 3,022 square feet. The purchase would be aligned with an owner looking to acquire a retail asset with an in-place lease and an established operating status through the lease term.
Key Highlights
- Operating retail storefront business with a current lease in place
- Lease term runs through May 2032
- Guest facilities: 3
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.3k | $15.00 |
| − Vacancy | −$4.5k | −$1.50 |
| EGI | $40.8k | $13.50 |
| − OpEx | −$12.2k | −$4.05 |
| NOI | $28.6k | $9.45 |
3,022 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$408.0K
$357.0K – $476.0K
NOI $28,558 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$696.5K
$609.5K – $812.6K
NOI $48,757 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kung Fu Cafe
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - For sale operating retail storefront with a current lease in place through May 2032.
Where is this retail space located?
The property is located at 2902 Broadway Street Anderson, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Operating retail storefront business with a current lease in place; Lease term runs through May 2032; Guest facilities: 3
