Flex Building with Warehouse
4480 RAY BOLL BLVD, Columbus, IN 47203
For Sale
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A dedicated office component complements the building’s warehouse area for a range of commercial operations.
Property Size8,280 SF
Lot Size0.85 Acres
Price / SF$87.56
Days on Market8
Property Features for 4480 RAY BOLL BLVD
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Clear Span
Warehouse Space
Office Build-Out
Three-Phase Power
Conditioned Warehouse
Additional Details
Property Use
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Breeden Commercial
Listed By:
Tara James · License IN RB14038657
Source:
Crexi
Added: Nov 7
Changed: Nov 10
Last Checked: Nov 12 at 7:39AM
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 Breeden Commercial
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Investment Insights
Based on property information with market context.
This 8,280-square-foot flex property contains 5,740 square feet of warehouse area with 16-foot ceilings, two overhead doors, a restroom, and three-phase electric. The 2,540-square-foot office section includes reception, a conference room, three private offices, open work space, a kitchenette, and an ADA-compliant bathroom. HVAC serves the building, which was constructed in 1999 on approximately 0.85 acres. The property is zoned PUD.
The building is on the north side of Columbus, Indiana, at 4480 Ray Boll Boulevard. Its combination of warehouse and office space supports varied industrial or service-oriented operations.
The building is on the north side of Columbus, Indiana, at 4480 Ray Boll Boulevard. Its combination of warehouse and office space supports varied industrial or service-oriented operations.
Key Highlights
- 8,280‑square‑foot flex building on approximately 0.85 acres
- 5,740‑square‑foot warehouse area with 16‑foot ceilings
- Two overhead doors and three‑phase electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,908
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,160
$1.2M
Cap Rate 7%
$841,543
$841.5K
Cap Rate 9%
$654,533
$654.5K
Market Conditions
NOI Build-Up for 8,280 SF
Gross rent
$74.5K $9.00/SF
− Vacancy
−$5.2K −$0.63/SF
EGI
$69.3K $8.37/SF
− OpEx
−$10.4K −$1.26/SF
NOI
$58.9K $7.11/SF
Area
Bartholomew County, IN
Vacancy
7.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,160
Cap Rate 7%
$841,543
Cap Rate 9%
$654,533
Alternative Uses
Best Use
Flex RnD
$1.54M
$1.35M – $1.80M
NOI $108,114 @ 7.0% cap · market cap 14.91%
Second Best
Warehouse
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 8.13%
Theoretical Best
Healthcare Medical
$1.60M
$1.40M – $1.87M
NOI $112,048 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 47203, IN
27,006
Population
11,149
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
77.1 sq mi
ZIP Area
350
Density / Sq Mi
$73,595
Median Household Income
$47,174
Median Earnings
$963
Median Rent
$234,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Hangar 5 Catering — 4770 Ray Boll Blvd, Columbus, IN 47203
Frequently Asked Questions
What type of property is this?
Flex space - A dedicated office component complements the building’s warehouse area for a range of commercial operations.
Where is this flex space located?
The property is located at 4480 RAY BOLL BLVD Columbus, IN.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 8,280‑square‑foot flex building on approximately 0.85 acres; 5,740‑square‑foot warehouse area with 16‑foot ceilings; Two overhead doors and three‑phase electric
