Building Details

Year Built 2005

Buildings 2

Listing Agency: Smythe & Co, Inc

Listed By: Austin Smythe Show Phone

Source: Megandusing

Added: Sep 15 Changed: Oct 26 Last Checked: Oct 7 at 1:38PM

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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 Smythe & Co, Inc

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This flex property includes two commercial buildings totaling 8,752 square feet on approximately 1 acre. Constructed in 2005, the west building contains 5,112 square feet arranged for an antique shop and cabinet refinishing operation, while the east building provides 3,640 square feet currently occupied by a pool service company.

The property is located in Bargersville, Indiana, about one-half mile from SR135. Surrounding development and construction provide an active commercial setting. The separate-building layout offers existing leased occupancy along with distinct spaces for continued business use.

Key Highlights

• Two buildings totaling 8,752 square feet
• West building contains 5,112 square feet
• East building contains 3,640 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,908

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,558,160 $1.6M

Cap Rate 7%

$1,112,971 $1.1M

Cap Rate 9%

$865,644 $865.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,752 SF

Gross rent

$131.3K $15.00/SF

− Vacancy

−$11.4K −$1.31/SF

EGI

$119.9K $13.70/SF

− OpEx

−$42.0K −$4.79/SF

NOI

$77.9K $8.90/SF

Area

Johnson County, IN

Vacancy

8.70%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,558,160

Cap Rate 7%

$1,112,971

Cap Rate 9%

$865,644

Alternative Uses

Best Use

Retail

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,719 @ 7.0% cap · market cap 10.69%

Second Best

Flex RnD

$1.11M

$973.9K – $1.30M (±1% cap)

NOI $77,908 @ 7.0% cap · market cap 8.70%

Theoretical Best

Office A

$2.21M

$1.93M – $2.57M (±1% cap)

NOI $154,385 @ 7.0% cap · market cap 17.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Real Estate Agency Big Box & Wholesale Store Auto Repair Shop HVAC Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 46106, IN

8,672

Population

3,593

Households

2.4

Avg Household Size

36

Median Age

52%

College-Educated

98%

High-School Grad

28.2 sq mi

ZIP Area

308

Density / Sq Mi

$106,914

Median Household Income

$55,755

Median Earnings

$1,546

Median Rent

$430,500

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Two leased buildings support multiple commercial uses with separate interior configurations.

Where is this flex space located?

The property is located at 291 E Two Cent Rd Bargersville, IN.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: Two buildings totaling 8,752 square feet; West building contains 5,112 square feet; East building contains 3,640 square feet