Historic Brick Office
For Sale
Contact for pricing
505 Main Street, New Harmony, IN 47631
Built in 1880, the property currently houses the New Harmony Gazette office near shops, restaurants, and cultural landmarks.
Property Size1,032 SF
Price / SF$387.60
Days on Market63
Property Features for 505 Main Street
General Information
Standard status
Active
Size
1,032 SF
Property subtype
Office
Zoning
Business Historic
Building Details
Year Built
1880
Buildings
1
Stories
2
Units
1
Listing Agency:
FC Tucker Commercial
Listed By:
Dylan Krohn · License #RB19000887
(812) 430-0464
Source:
Crexi
Added: Aug 4
Changed: Sep 24
Last Checked: Oct 4 at 8:25AM
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 FC Tucker Commercial
Investment Insights
Based on property information with market context.
This 1,032-square-foot office building was constructed in 1880 with brick exterior walls. The property is currently occupied by the New Harmony Gazette office and offers a compact commercial footprint for an office user or owner-occupant.
The building is located at 505 Main Street in New Harmony, Indiana, near shops, restaurants, and cultural landmarks. Business Historic zoning is identified for the property.
The building is located at 505 Main Street in New Harmony, Indiana, near shops, restaurants, and cultural landmarks. Business Historic zoning is identified for the property.
Key Highlights
- 1,032‑square‑foot office building
- Brick construction dating to 1880
- Currently houses the New Harmony Gazette office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,557
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,140
$251.1K
Cap Rate 7%
$179,386
$179.4K
Cap Rate 9%
$139,522
$139.5K
Market Conditions
NOI Build-Up for 1,032 SF
Gross rent
$19.8K $19.20/SF
− Vacancy
−$3.1K −$2.98/SF
EGI
$16.7K $16.22/SF
− OpEx
−$4.2K −$4.06/SF
NOI
$12.6K $12.17/SF
Area
Posey County, IN
Vacancy
15.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,140
Cap Rate 7%
$179,386
Cap Rate 9%
$139,522
Alternative Uses
Best Use
Office B
$179.4K
$157.0K – $209.3K
NOI $12,557 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.2K
$224.2K – $298.9K
NOI $17,934 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 47631, IN
1,908
Population
1,001
Households
1.9
Avg Household Size
51
Median Age
26%
College-Educated
93%
High-School Grad
59.4 sq mi
ZIP Area
32
Density / Sq Mi
$60,509
Median Household Income
$39,611
Median Earnings
$875
Median Rent
$184,300
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
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Frequently Asked Questions
What type of property is this?
Office building - Built in 1880, the property currently houses the New Harmony Gazette office near shops, restaurants, and cultural landmarks.
Where is this office building located?
The property is located at 505 Main Street New Harmony, IN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,032‑square‑foot office building; Brick construction dating to 1880; Currently houses the New Harmony Gazette office
