Building Details

Building Size 1,800 SF

Year Built 1940

Stories 1

Listing Agency: RE/MAX Real Estate Solutions j***@remax.net Show Phone

Listed By: Katie Blossom · License #RB22002257 Show Phone

Source: Battsrealestategroup

Added: Sep 26 Changed: Oct 23 Last Checked: Oct 22 at 8:18AM

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Investment Insights

Based on property information with market context.

This detached auto shop at 3130 Columbus Avenue in Anderson, Indiana, has concrete exterior construction and a 1940 year built. Its zoning designation is COMMERCIAL GARAGE.

Key Highlights

• Detached auto shop with concrete exterior construction
• COMMERCIAL GARAGE zoning
• Built in 1940

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,010

Cap Rate

8.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$340,200 $340.2K

Cap Rate 7%

$243,000 $243.0K

Cap Rate 9%

$189,000 $189.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$27.0K $15.00/SF

− Vacancy

−$2.7K −$1.50/SF

EGI

$24.3K $13.50/SF

− OpEx

−$7.3K −$4.05/SF

NOI

$17.0K $9.45/SF

Area

Madison County, IN

Vacancy

10.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$340,200

Cap Rate 7%

$243,000

Cap Rate 9%

$189,000

Alternative Uses

Best Use

Retail

$243.0K

$212.6K – $283.5K (±1% cap)

NOI $17,010 @ 7.0% cap · market cap 8.51%

Second Best

Industrial

$106.2K

$93.0K – $124.0K (±1% cap)

NOI $7,437 @ 7.0% cap · market cap 3.72%

Theoretical Best

Office A

$414.9K

$363.0K – $484.0K (±1% cap)

NOI $29,041 @ 7.0% cap · market cap 14.53%

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

Gossars Towing Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Dental Office Restaurant Spa & Massage Center

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

216

Businesses Nearby

7k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Marathon Shops & Services

6,601 visits/mo 0.5 miles

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Dream Towing´s CO — 3824 Main St, Anderson, IN 46013, United States
• National Auto Spa — 812 E 38th St, Anderson, IN 46013
• Crown Motors Auto Body — 3307 Main St, Anderson, IN 46013
• Gossars Towing — 3130 Columbus Ave, Anderson, IN 46016
• Double j’s towing — 3315 E Lynn St, Anderson, IN 46013

Frequently Asked Questions

What type of property is this?

Auto shop - The property carries a commercial garage zoning designation.

Where is this auto shop located?

The property is located at 3130 Columbus Avenue Anderson, IN.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: Detached auto shop with concrete exterior construction; COMMERCIAL GARAGE zoning; Built in 1940