Building Details

Year Built 1950

Listing Agency: F.C. Tucker/Scott Lynch Group Show Phone

Listed By: Ward Realty Services Show Phone

Source: Wardrealtyservices

Added: Sep 1 Changed: Oct 23 Last Checked: Oct 23 at 6:37AM

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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 F.C. Tucker/Scott Lynch Group

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Investment Insights

Based on property information with market context.

This 2,180-square-foot office property provides a formal reception foyer, a conference room, and five private offices. Three alcove work areas add flexibility, while one private room can also function as overflow meeting or storage space. The layout includes a dedicated break and copy room with a refrigerator and sink, along with separate men's and women's restrooms.

The main office opens to a private patio and a natural rock wall, adding distinctive exterior space to the property. A new roof was installed two months ago. Built in 1950, the property is located at 3426 Paoli Pike in Floyds Knobs, Indiana, and is identified for office use and owner-user occupancy.

Key Highlights

• 2,180‑square‑foot office property with five private offices
• Three alcove office areas support flexible workspace needs
• Conference room with cobblestone accent wall

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,335

Cap Rate

5.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$546,700 $546.7K

Cap Rate 7%

$390,500 $390.5K

Cap Rate 9%

$303,722 $303.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,180 SF

Gross rent

$47.1K $21.60/SF

− Vacancy

−$10.6K −$4.88/SF

EGI

$36.4K $16.72/SF

− OpEx

−$9.1K −$4.18/SF

NOI

$27.3K $12.54/SF

Area

Floyd County, IN

Vacancy

22.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$546,700

Cap Rate 7%

$390,500

Cap Rate 9%

$303,722

Alternative Uses

Best Use

Office B

$390.5K

$341.7K – $455.6K (±1% cap)

NOI $27,335 @ 7.0% cap · market cap 5.75%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,301 @ 7.0% cap · market cap 23.22%

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

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Law Firm Restaurant Pharmacy Dental Office

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

79

Businesses Nearby

Explore this area Business Placement

Demographics for 47119, IN

12,173

Population

4,635

Households

2.6

Avg Household Size

43

Median Age

45%

College-Educated

97%

High-School Grad

41.7 sq mi

ZIP Area

292

Density / Sq Mi

$118,093

Median Household Income

$50,145

Median Earnings

$1,280

Median Rent

$321,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office unit - Professional office layout with private rooms, alcove work areas, conference space, and separate restrooms.

Where is this office unit located?

The property is located at 3426 Paoli Pike Floyds Knobs, IN.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 2,180‑square‑foot office property with five private offices; Three alcove office areas support flexible workspace needs; Conference room with cobblestone accent wall