Strip
For Sale
Contact for pricing
3635 W Nichol Avenue W, Anderson, IN 46011
The owner covers water, sewer, lawn care, and snow removal.
Property Size18,300 SF
Price / SF$0.03
Days on Market32
Property Features for 3635 W Nichol Avenue W
General Information
Standard status
Active
Size
18,300 SF
Property subtype
Retail
Listing Agency:
eXp Realty, LLC
Listed By:
LockStep Realty · License #RB14014285
(317) 218-9625
Source:
Locksteprealty
Added: Sep 29
Changed: Oct 28
Last Checked: Oct 28 at 1:26PM
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 eXp Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This strip mall is located at 3635 W Nichol Avenue W in Anderson, Indiana. Water and sewer service are paid by the owner, who also covers lawn care and snow removal.
Key Highlights
- Owner‑paid water and sewer service
- Owner‑paid lawn care and snow removal
- 3635 W Nichol Avenue W, Anderson, IN 46011
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,935
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,458,700
$3.5M
Cap Rate 7%
$2,470,500
$2.5M
Cap Rate 9%
$1,921,500
$1.9M
Market Conditions
NOI Build-Up for 18,300 SF
Gross rent
$274.5K $15.00/SF
− Vacancy
−$27.5K −$1.50/SF
EGI
$247.1K $13.50/SF
− OpEx
−$74.1K −$4.05/SF
NOI
$172.9K $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%
$3,458,700
Cap Rate 7%
$2,470,500
Cap Rate 9%
$1,921,500
Alternative Uses
Best Use
Retail
$2.47M
$2.16M – $2.88M
NOI $172,935 @ 7.0% cap · market cap 31,442.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.22M
$3.69M – $4.92M
NOI $295,255 @ 7.0% cap · market cap 53,682.73%
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
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
GetGo Gas Station
Shops & Services
13,372 visits/mo
0.3 miles
SUBWAY
Dining
2,128 visits/mo
0.3 miles
Demographics for 46011, IN
17,078
Population
7,304
Households
2.3
Avg Household Size
45
Median Age
26%
College-Educated
93%
High-School Grad
73.9 sq mi
ZIP Area
231
Density / Sq Mi
$77,618
Median Household Income
$42,975
Median Earnings
$1,011
Median Rent
$168,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - The owner covers water, sewer, lawn care, and snow removal.
Where is this strip mall located?
The property is located at 3635 W Nichol Avenue W Anderson, IN.
What are key features of this property?
This property features: Owner‑paid water and sewer service; Owner‑paid lawn care and snow removal; 3635 W Nichol Avenue W, Anderson, IN 46011
