Building Details

Building Size 3,324 SF

Buildings 1

Listing Agency: Batts Real Estate Group

Listed By: Lisa Batts Show Phone

Source: Battsrealestategroup

Added: Oct 2 Changed: Oct 22 Last Checked: Oct 22 at 2:29PM

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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 Batts Real Estate Group

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Investment Insights

Based on property information with market context.

This 3,324-square-foot flex building combines open work areas with multiple service bays and overhead doors. Concrete floors, office and reception space, a restroom, and a separate customer entrance with storefront-style windows are among the existing features. General Business zoning applies, subject to applicable requirements.

A substantial paved area provides space for parking, vehicle movement, equipment, or service activity.

Key Highlights

• 3,324‑square‑foot commercial building
• Multiple service bays and overhead garage doors
• General Business zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,734

Cap Rate

9.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$274,680 $274.7K

Cap Rate 7%

$196,200 $196.2K

Cap Rate 9%

$152,600 $152.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,324 SF

Gross rent

$20.1K $6.06/SF

− Vacancy

−$524 −$0.16/SF

EGI

$19.6K $5.90/SF

− OpEx

−$5.9K −$1.77/SF

NOI

$13.7K $4.13/SF

Area

Madison County, IN

Vacancy

2.60%

Lease Rate

$6.06 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$274,680

Cap Rate 7%

$196,200

Cap Rate 9%

$152,600

Alternative Uses

Best Use

Retail

$448.7K

$392.7K – $523.5K (±1% cap)

NOI $31,412 @ 7.0% cap · market cap 20.94%

Second Best

Industrial

$196.2K

$171.7K – $228.9K (±1% cap)

NOI $13,734 @ 7.0% cap · market cap 9.16%

Theoretical Best

Office A

$766.1K

$670.4K – $893.8K (±1% cap)

NOI $53,630 @ 7.0% cap · market cap 35.75%

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Restaurant HVAC Service Kitchen & Bath Showroom

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

176

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46017, IN

5,930

Population

2,386

Households

2.5

Avg Household Size

44

Median Age

19%

College-Educated

94%

High-School Grad

17.7 sq mi

ZIP Area

335

Density / Sq Mi

$72,468

Median Household Income

$40,140

Median Earnings

$972

Median Rent

$138,500

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 - Open shop areas, customer-facing office space, and paved exterior area support a range of commercial operations.

Where is this flex space located?

The property is located at 311 Anderson Road Chesterfield, IN.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: 3,324‑square‑foot commercial building; Multiple service bays and overhead garage doors; General Business zoning