Listing Agency: Exit Realty Crutcher Show Phone

Listed By: Southern Homes Realty Show Phone

Source: Sohosold

Added: Mar 17 Changed: Oct 16 Last Checked: Oct 16 at 8:16AM

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Investment Insights

Based on property information with market context.

This land property contains 227,905 square feet and includes a newly constructed 5,000-square-foot pole barn. The improvements include skylights, wired electrical service, extensive interior and exterior lighting, outlets throughout, and gravel flooring. Water and a 30-amp electrical hookup are available at the barn. The original barn measures 40 feet by 30 feet and has 12-foot overhead doors, while an added 40-foot-by-80-foot section includes five 14-foot overhead doors. The doors measure 14 feet high and 12 feet wide, with capacity for up to five 5th-wheel campers. Four-board fencing surrounds the 5-acre area and provides space for livestock.

The property is adjacent to Floyd Central High School, near Highlander Point, and close to Interstate 64. It is zoned Agri/Residential and addressed on Edwardsville Galena Road in Georgetown, Indiana.

Key Highlights

• 227,905‑square‑foot land property with a newly constructed 5,000‑square‑foot pole barn
• Original barn measures 40 feet by 30 feet and has 12‑foot overhead doors
• Added 40‑foot‑by‑80‑foot pole barn section with five 14‑foot overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,133

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$502,660 $502.7K

Cap Rate 7%

$359,043 $359.0K

Cap Rate 9%

$279,256 $279.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$30.8K $6.16/SF

− Vacancy

−$1.2K −$0.25/SF

EGI

$29.6K $5.91/SF

− OpEx

−$4.4K −$0.89/SF

NOI

$25.1K $5.03/SF

Area

Floyd County, IN

Vacancy

4.00%

Lease Rate

$6.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$502,660

Cap Rate 7%

$359,043

Cap Rate 9%

$279,256

Alternative Uses

Best Use

Warehouse

$359.0K

$314.2K – $418.9K (±1% cap)

NOI $25,133 @ 7.0% cap · market cap 4.21%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$3.61M

$3.16M – $4.22M (±1% cap)

NOI $252,983 @ 7.0% cap · market cap 42.38%

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

Property Analytics

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Current Use

Land

Suggested Use

Top Pick Dental Office Auto Repair Shop HVAC Service Daycare Center Gym & Fitness Center Department Store

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

24

Businesses Nearby

Explore this area Business Placement

Demographics for 47122, IN

11,185

Population

4,242

Households

2.6

Avg Household Size

41

Median Age

37%

College-Educated

95%

High-School Grad

35.3 sq mi

ZIP Area

317

Density / Sq Mi

$106,034

Median Household Income

$55,612

Median Earnings

$902

Median Rent

$268,200

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Land - The site carries Agri/Residential zoning and includes water and 30-amp electrical service at the barn.

Where is this land located?

The property is located at 3995 Edwardsville Galena Rd Georgetown, IN.

What is the asking price?

The asking price for this property is $597,000.

What are key features of this property?

This property features: 227,905‑square‑foot land property with a newly constructed 5,000‑square‑foot pole barn; Original barn measures 40 feet by 30 feet and has 12‑foot overhead doors; Added 40‑foot‑by‑80‑foot pole barn section with five 14‑foot overhead doors