Two-Building Auto
For Sale
$599,900
Pending
351 S Mapleton Street, Columbus, IN 47201
Commercial Sale, Columbus, IN
Property Size7,332 SF
Lot Size0.58 Acres
Days on Market54
Property Features for 351 S Mapleton Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial Fringe/ Auto
Elementary school district
Bartholomew Con School Corp
Middle school district
Bartholomew Con School Corp
High school district
Bartholomew Con School Corp
Directions
GPS Friendly
Subdivision
314 - Bartholomew - Columbus West
Standard status
Pending
APN
039630420005900005
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 64A - Bowles' Admin Subdv (Q/246D) Mp 096.0000056.0000
Tax Annual Amount
5460
Legal Description
Lot 64A - Bowles' Admin Subdv (Q/246D) Mp 096.0000056.0000
Utilities
Utilities
Cable Available
Amenities
overhead doors
office spaces
Building Details
Year built
1983
Floors in Building
2
Listing Agency:
eXp Realty LLC
(812) 374-8680
Listed By:
Zane Wischmeier · License #RB16000321
(888) 611-3912
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 11 at 4:06AM
MLS# 22115249
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,332 sq ft auto-use property includes two separate buildings on a 0.58-acre site. The improvements feature solid concrete construction, multiple overhead doors, office areas, and paved parking. Built in 1983, the facility has received updates and carries Commercial Fringe/ Auto zoning.
The property is located at 351 S Mapleton Street in Columbus, Indiana. Cable is available at the site, and the existing configuration provides space for automotive operations and related commercial uses.
The property is located at 351 S Mapleton Street in Columbus, Indiana. Cable is available at the site, and the existing configuration provides space for automotive operations and related commercial uses.
Key Highlights
- 7,332 sq ft auto‑use facility with two buildings
- 0.58‑acre lot at 351 S Mapleton Street, Columbus, IN 47201
- Commercial Fringe/ Auto zoning
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
$46,854
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
7.81%
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%
$937,080
$937.1K
Cap Rate 7%
$669,343
$669.3K
Cap Rate 9%
$520,600
$520.6K
Market Conditions
NOI Build-Up for 7,332 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
$74.8K $10.20/SF
− Vacancy
−$7.9K −$1.07/SF
EGI
$66.9K $9.13/SF
− OpEx
−$20.1K −$2.74/SF
NOI
$46.9K $6.39/SF
Area
Bartholomew County, IN
Vacancy
10.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$937,080
Cap Rate 7%
$669,343
Cap Rate 9%
$520,600
Alternative Uses
Best Use
Flex RnD
$1.37M
$1.20M – $1.60M
NOI $95,735 @ 7.0% cap · market cap 15.96%
Second Best
Retail
$669.3K
$585.7K – $780.9K
NOI $46,854 @ 7.0% cap · market cap 7.81%
Theoretical Best
Healthcare Medical
$1.42M
$1.24M – $1.65M
NOI $99,220 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47201, IN
45,969
Population
20,924
Households
2.2
Avg Household Size
36
Median Age
36%
College-Educated
92%
High-School Grad
201.2 sq mi
ZIP Area
228
Density / Sq Mi
$82,667
Median Household Income
$46,243
Median Earnings
$1,159
Median Rent
$217,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Auto Glass Depot — 770 S Marr Rd, Columbus, IN 47201
- Webb's Auto Center — 481 Center St, Columbus, IN 47201
- Classic Auto Body — 472 Center St, Columbus, IN 47201
- Gene's Automotive Services — 461 S Mapleton St # A, Columbus, IN 47201
- Move Over Outfitters Inc — 470 S Mapleton St, Columbus, IN 47201
Frequently Asked Questions
What type of property is this?
Auto shop - Commercially zoned auto facility with paved parking, overhead doors, and dedicated office areas.
Where is this auto shop located?
The property is located at 351 S Mapleton Street Columbus, IN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 7,332 sq ft auto‑use facility with two buildings; 0.58‑acre lot at 351 S Mapleton Street, Columbus, IN 47201; Commercial Fringe/ Auto zoning
