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    Office Suite with Lobby and Restroom Title is generated by Realmo AI

    5150 Charlestown Road, New Albany, IN 47150

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    COMMERCIAL - New Albany, IN

    Property size:
    1,012 SF
    Price / SF:
    $1.73/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for 5150 Charlestown Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    220508600167004007
    Size
    1,012 SF

    Taxes and HOA fees

    Tax Year
    4051
    Tax Description
    COBBLER'S STATION OFFICE PARK PLAT 1123 UNIT 4 1019 SF AND 1018 SF & 992 SF PARE NT PARCEL #2850-067
    Tax Annual Amount
    5822

    Building Details

    Year built
    1997

    We can help!

    Listing Contact
    Mike Kopp

    Listing agent Mike Kopp License #RB14037481

    Listing office RE/MAX FIRST-Commercial Group 2123 Veterans Pkwy, Suite C, Jeffersonville, IN

    Listing date Jun 3, 2026

    MLS# 202608715

    Copyright © 2026 Southern Indiana REALTORS Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Office space built in 1997 with 1,012 SF
    • Monthly rent listed as $1,750/month; includes utilities (water, sewer & electric)
    • Includes entry and lobby area, four individual offices, and a restroom
    • Two offices feature sliding doors for an adjoining office setup if desired
    • Vacant and ready for occupancy
    • More than ample parking available

    Overview

    This vacant office suite offers a welcoming entry and lobby area plus four individual offices designed for focused work. Two of the offices feature sliding doors, allowing the space to be opened up for an adjoining configuration when desired. A restroom is included, and the unit is offered with utilities (water, sewer and electricity) included. With landlord support and ongoing maintenance, the suite is positioned to be straightforward for a new tenant to move into and operate.

    Located on Charlestown Road in a highly popular business service area, the property is surrounded by nearby retail and service activity. The tenant environment is complemented by surrounding shopping, retail, restaurants, banking, and medical services, which can be beneficial for client-facing businesses.

    The layout and included amenities make this suite a practical fit for professional users who want private rooms with some flexibility to connect spaces. With ample parking and an accessible, locally managed landlord, it’s well suited for an owner-operator or small team seeking a ready-to-occupy office in a service-oriented location.
    Property Profile Location Intelligence

    Current Use by Public Records

    John G Brinkworth, ... Land Surveyor Dollar Reverse Phone ... (Bike/Boat/Book/etc) Store OneStop Health Brokers Insurance Agency The Wheatley Group Consultant Shepherd Insurance Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.777634
    Latitude
    38.366124

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    FAQs

    What type of property is this?
    Office units - Vacant office suite with multiple private offices, restroom, and utilities included for a plug-and-play setup.
    Where is this office units located?
    The property is located at 5150 Charlestown Road New Albany, IN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Office space built in 1997 with 1,012 SF; Monthly rent listed as $1,750/month; includes utilities (water, sewer & electric); Includes entry and lobby area, four individual offices, and a restroom
    (812) 283-4778
    We can help!
    Listing Contact
    Mike Kopp
    Real Estate License ID: RB14037481
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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