East End Retail
For Sale
Contact for pricing
Pending
514 Vincennes St, New Albany, IN 47150
Freestanding building with drive-thru in New Albany, Indiana.
Property Size1,350 SF
Days on Market109
Property Features for 514 Vincennes St
General Information
Standard status
Pending
Size
1,350 SF
Property subtype
Retail, Hospitality
Zoning
MC - Mixed Use Corridor Commercial
Building Details
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
KW Commercial Southern Indiana
Listed By:
Brian Haeseley · License #KY b3113
Source:
Crexi
Added: May 12
Changed: Aug 13
Last Checked: Aug 26 at 11:48AM
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 KW Commercial Southern Indiana
Investment Insights
Based on property information with market context.
This 1,350-square-foot freestanding building is located in the east end of New Albany, Indiana. The property features a drive-thru window and a large parking lot in the rear. It is suitable for retail or office use. The property was previously used as a doughnut shop. A hood system and freezers are present and can remain at no added value. This location presents an opportunity to reopen a restaurant or establish a new business.
Key Highlights
- High‑traffic location ideal for retail or office use.
- Free‑standing building offering flexibility.
- Large parking lot in the rear.
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
$12,928
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
3.69%
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%
$258,560
$258.6K
Cap Rate 7%
$184,686
$184.7K
Cap Rate 9%
$143,644
$143.6K
Market Conditions
NOI Build-Up for 1,350 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
$19.4K $14.40/SF
− Vacancy
−$972 −$0.72/SF
EGI
$18.5K $13.68/SF
− OpEx
−$5.5K −$4.10/SF
NOI
$12.9K $9.58/SF
Area
Floyd County, IN
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$258,560
Cap Rate 7%
$184,686
Cap Rate 9%
$143,644
Alternative Uses
Best Use
Specialty Retail
$975.8K
$853.8K – $1.14M
NOI $68,305 @ 7.0% cap · market cap 19.52%
Second Best
Retail
$184.7K
$161.6K – $215.5K
NOI $12,928 @ 7.0% cap · market cap 3.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
White Castle
Dining
16,544 visits/mo
0.1 miles
Rally's
Dining
6,068 visits/mo
0.2 miles
Demographics for 47150, IN
49,395
Population
22,834
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
45.0 sq mi
ZIP Area
1,098
Density / Sq Mi
$62,212
Median Household Income
$40,837
Median Earnings
$984
Median Rent
$191,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Freestanding building with drive-thru in New Albany, Indiana.
Where is this retail space located?
The property is located at 514 Vincennes St New Albany, IN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High‑traffic location ideal for retail or office use.; Free‑standing building offering flexibility.; Large parking lot in the rear.
