Industrial Flex Building with
3893 W State Road 47 Sheridan, IN 46069
3893 W State Road 47, Sheridan, IN, 46069
$2,195,000
For Sale
$2,195,000
Turnkey flex facility features conditioned office space and a warehouse with 17-foot ceilings and three drive-in doors.
Property Size12,695 SF
Price / SF$172.90
Days on Market72
Property Features for 3893 W State Road 47
General Information
- Standard status
- Active
- Size
- 12,695 SF
Listing agency
F.C. Tucker Company
(317) 902-8622
Listed by
Annie Scott
(317) 902-8622
Source
Exprealty
Added: May 11 Updated: Jul 21 at 2:16AM Checked: Jul 21 at 2:16AM
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 Company
Investment Insights
Based on property information with market context.
This versatile industrial flex building was originally constructed in 2005 and underwent an extensive addition and a complete remodel in 2021. The interior layout is designed to balance professional office buildout with functional industrial space, including approximately 2,000 square feet of dedicated office area within a total of about 8,000 square feet of fully conditioned space. The remaining warehouse area is characterized by 17-foot ceiling heights and three drive-in doors, supporting a range of light manufacturing, specialized storage, or distribution needs.
The property is located directly on State Road 47, providing visibility and direct access for logistics operations. Proximity to Interstate 65 and US Highway 31 supports regional connectivity, and the site is engineered for heavy vehicle movement with dedicated truck access and a fully fenced perimeter. An automated gate system provides controlled entry.
The property will be delivered vacant, offering an owner-occupant or investor a turnkey setup with modernized interiors and systems.
The property is located directly on State Road 47, providing visibility and direct access for logistics operations. Proximity to Interstate 65 and US Highway 31 supports regional connectivity, and the site is engineered for heavy vehicle movement with dedicated truck access and a fully fenced perimeter. An automated gate system provides controlled entry.
The property will be delivered vacant, offering an owner-occupant or investor a turnkey setup with modernized interiors and systems.
Key Highlights
- 12,695 SF industrial/flex building with 8,000 SF fully conditioned space and 4,000 SF warehouse.
- 2,000 SF dedicated office area for administrative and management use.
- Warehouse features 17‑foot ceiling heights and 3 drive‑in doors.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $246.8k | $19.44 |
| − Vacancy | −$23.9k | −$1.89 |
| EGI | $222.9k | $17.55 |
| − OpEx | −$55.7k | −$4.39 |
| NOI | $167.1k | $13.17 |
12,695 SF · lease $19.44/SF/yr · vacancy 9.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.39M
$2.09M – $2.79M
NOI $167,139 @ 7.0% cap · market cap 7.61%
Second Best
Warehouse
$836.0K
$731.5K – $975.3K
NOI $58,518 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,823 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- The Bountiful Board — 3901 IN-47 Suite 10, Sheridan, IN 46069
- Chef Karyn LLC — 415 S Main St, Sheridan, IN 46069
FAQs
What type of property is this?
Flex space - Turnkey flex facility features conditioned office space and a warehouse with 17-foot ceilings and three drive-in doors.
Where is this flex space located?
The property is located at 3893 W State Road 47 Sheridan, IN.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 12,695 SF industrial/flex building with 8,000 SF fully conditioned space and 4,000 SF warehouse.; 2,000 SF dedicated office area for administrative and management use.; Warehouse features 17‑foot ceiling heights and 3 drive‑in doors.
