Flexible Office Units With Surface
For Sale
Contact for pricing
3990 State Road 38 E, Lafayette, IN 47905
General Business zoning accommodates medical, office, retail/service, showroom, and fitness uses.
Property Size25,020 SF
Price / SF$149.88
Days on Market308
Property Features for 3990 State Road 38 E
General Information
Standard status
Active
Size
25,020 SF
Property subtype
OFFICE
Zoning
GB
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Shook Commercial Real Estate
(765) 742-5096
Listed By:
Dustin Zufall
(765) 427-2047
Source:
Moodyscre
Added: Dec 12, 2025
Changed: Oct 2
Last Checked: Oct 14 at 11:21PM
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 Shook Commercial Real Estate
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Investment Insights
Based on property information with market context.
This 25,020-square-foot office property offers an open, adaptable layout that can accommodate private offices or showroom buildouts. On-site surface parking supports daily operations, while General Business (GB) zoning provides broad use permissions identified for medical, office, retail/service, showroom, and fitness applications.
The property fronts State Road 38 E, creating opportunities for prominent signage and convenient access. Connections to I-65 and Veterans Memorial Pkwy are nearby, with schools, employers, dense rooftops, and daily-needs retail contributing to the surrounding commercial context.
The property fronts State Road 38 E, creating opportunities for prominent signage and convenient access. Connections to I-65 and Veterans Memorial Pkwy are nearby, with schools, employers, dense rooftops, and daily-needs retail contributing to the surrounding commercial context.
Key Highlights
- 25,020 square feet of office space
- General Business (GB) zoning
- Open, adaptable floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,489
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,989,780
$6.0M
Cap Rate 7%
$4,278,414
$4.3M
Cap Rate 9%
$3,327,656
$3.3M
Market Conditions
NOI Build-Up for 25,020 SF
Gross rent
$525.4K $21.00/SF
− Vacancy
−$126.1K −$5.04/SF
EGI
$399.3K $15.96/SF
− OpEx
−$99.8K −$3.99/SF
NOI
$299.5K $11.97/SF
Area
Tippecanoe County, IN
Vacancy
24.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,989,780
Cap Rate 7%
$4,278,414
Cap Rate 9%
$3,327,656
Alternative Uses
Best Use
Office B
$4.28M
$3.74M – $4.99M
NOI $299,489 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.78M
$5.05M – $6.74M
NOI $404,351 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 47905, IN
41,787
Population
18,309
Households
2.3
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
120.4 sq mi
ZIP Area
347
Density / Sq Mi
$63,115
Median Household Income
$41,595
Median Earnings
$1,101
Median Rent
$215,500
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office units - General Business zoning accommodates medical, office, retail/service, showroom, and fitness uses.
Where is this office units located?
The property is located at 3990 State Road 38 E Lafayette, IN.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 25,020 square feet of office space; General Business (GB) zoning; Open, adaptable floor plan
