Mixed-Use Property with
New
For Sale
$525,000
3292 State Road 9 Road, Anderson, IN 46012
Includes a three-bedroom residence, office area, and multiple garage buildings.
Property Size1,900 SF
Lot Size2.45 Acres
Price / SF$276.32
Days on Market4
Property Features for 3292 State Road 9 Road
General Information
Standard status
Active
Size
1,900 SF
Lot size
2.45 Acres
Property subtype
Mixed Use
Additional Details
Office Build-Out
400 SF
Listing Agency:
Weightman Realty Group, LLC
Listed By:
Jeff Weightman · License #RB14041279
(317) 258-4714
Source:
Xome
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:26PM
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 Weightman Realty Group, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a 1,800-square-foot pole barn and shop with a separate 400-square-foot office area. The site also includes a 1,838-square-foot residence with three bedrooms and two bathrooms, plus an attached two-car garage.
A detached three-car garage is positioned behind the home, and the improvements occupy 2.45 acres. The property is located at 3292 State Road 9 Road in Anderson, Indiana, providing a combination of commercial workspace, office accommodation, residential space, and accessory storage structures.
A detached three-car garage is positioned behind the home, and the improvements occupy 2.45 acres. The property is located at 3292 State Road 9 Road in Anderson, Indiana, providing a combination of commercial workspace, office accommodation, residential space, and accessory storage structures.
Key Highlights
- 1,800 sq. ft. pole barn and shop
- Additional 400 sq. ft. office area
- 1,838 sq. ft. residence with 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,810
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$376,200
$376.2K
Cap Rate 7%
$268,714
$268.7K
Cap Rate 9%
$209,000
$209.0K
Market Conditions
NOI Build-Up for 1,900 SF
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.
Gross rent
$34.2K $18.00/SF
− Vacancy
−$4.1K −$2.16/SF
EGI
$30.1K $15.84/SF
− OpEx
−$11.3K −$5.94/SF
NOI
$18.8K $9.90/SF
Area
Madison County, IN
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$376,200
Cap Rate 7%
$268,714
Cap Rate 9%
$209,000
Alternative Uses
Best Use
Mixed Use
$268.7K
$235.1K – $313.5K
NOI $18,810 @ 7.0% cap · market cap 3.58%
Second Best
Industrial
$112.1K
$98.1K – $130.8K
NOI $7,850 @ 7.0% cap · market cap 1.50%
Theoretical Best
Office A
$437.9K
$383.2K – $510.9K
NOI $30,655 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 46012, IN
19,108
Population
9,659
Households
2
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
32.0 sq mi
ZIP Area
597
Density / Sq Mi
$58,538
Median Household Income
$36,017
Median Earnings
$982
Median Rent
$149,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a three-bedroom residence, office area, and multiple garage buildings.
Where is this mixed-use property located?
The property is located at 3292 State Road 9 Road Anderson, IN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,800 sq. ft. pole barn and shop; Additional 400 sq. ft. office area; 1,838 sq. ft. residence with 3 bedrooms and 2 bathrooms
