Renovated Office
For Sale
$215,000
504 W National Avenue, Brazil, IN 47834
SINGLE_FAMILY - Brazil, IN
Property Size1,800 SF
Lot Size0.06 Acres
Price / SF$119.44
Days on Market198
Property Features for 504 W National Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
c/1
Interior features
Fixtures, Restroom(s), Handicap Access
Accessibility
Accessible Approach with Ramp
Subdivision
Clay County
Standard status
Active
APN
11-02-36-400-318.000-002
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Floors in Building
1
Listing Agency:
A & B HOMES
(812) 605-8097
Listed By:
Rodney B Sneath · License #RB19000671
(812) 605-8097
Added: Feb 12
Changed: Aug 12
Last Checked: Aug 29 at 8:06AM
MLS# 108575
Copyright © 2026 Terre Haute Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated office suite was significantly updated in 2022, remodeled inside and out to support a professional work environment. The building includes four rooms measuring approximately 13 by 11, with built-in cabinetry and sinks. In addition, there is a reception/waiting room area and a kitchen area. The suite also offers a full bath with a beautifully tiled walk-in shower, along with an additional half bath.
The property is located on West National Avenue in Brazil, Indiana, in Clay County. Parking is available on the street and in the back of the building.
With its dedicated room layout and updated interior finishes, the space is well suited for an office or studio setup requiring separate rooms, a reception area, and restroom facilities.
The property is located on West National Avenue in Brazil, Indiana, in Clay County. Parking is available on the street and in the back of the building.
With its dedicated room layout and updated interior finishes, the space is well suited for an office or studio setup requiring separate rooms, a reception area, and restroom facilities.
Key Highlights
- Updated 1,800 SF building on West National Avenue in Brazil, with 4 rooms (each 13' x 11') for office or studio use
- 4 rooms include built‑in cabinetry with sinks
- Full bath with tiled walk‑in shower plus an additional half bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$326,600
$326.6K
Cap Rate 7%
$233,286
$233.3K
Cap Rate 9%
$181,444
$181.4K
Market Conditions
NOI Build-Up for 1,800 SF
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.
Gross rent
$25.9K $14.40/SF
− Vacancy
−$4.1K −$2.30/SF
EGI
$21.8K $12.10/SF
− OpEx
−$5.4K −$3.02/SF
NOI
$16.3K $9.07/SF
Area
Clay County, IN
Vacancy
16.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$326,600
Cap Rate 7%
$233,286
Cap Rate 9%
$181,444
Alternative Uses
Best Use
Office B
$233.3K
$204.1K – $272.2K
NOI $16,330 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.4K
$278.6K – $371.5K
NOI $22,291 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 47834, IN
19,430
Population
8,451
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
91%
High-School Grad
154.2 sq mi
ZIP Area
126
Density / Sq Mi
$66,677
Median Household Income
$41,247
Median Earnings
$866
Median Rent
$135,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Renovated office suite with four rooms, built-in cabinetry with sinks, reception area, and kitchen, plus street and back parking.
Where is this office units located?
The property is located at 504 W National Avenue Brazil, IN.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Updated 1,800 SF building on West National Avenue in Brazil, with 4 rooms (each 13' x 11') for office or studio use; 4 rooms include built‑in cabinetry with sinks; Full bath with tiled walk‑in shower plus an additional half bath
