Mixed-Use Property with Office
For Sale
$799,999
516 E Main St, Brownsburg, IN 46112
C-2 zoning combines leased storefront space with a renovated rear office configuration.
Property Size4,884 SF
Price / SF$163.80
Days on Market84
Property Features for 516 E Main St
General Information
Standard status
Active
Size
4,884 SF
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Carpenter, REALTORS
Listed By:
David DeSutter
Source:
Megandusing
Added: Aug 2
Changed: Oct 8
Last Checked: Oct 7 at 5:23PM
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 Carpenter, REALTORS
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Investment Insights
Based on property information with market context.
This 4,884-square-foot mixed-use property combines an occupied front commercial space with a substantial rear office suite. The 858sf front space is leased under a recently extended agreement and includes use of a 546sf pole barn and wash bay. The rear office area includes 3,366sf on the main level and 660sf upstairs and is currently used by the owner.
The office suite has been comprehensively remodeled with updated electrical systems, LED lighting, plumbing, insulation, windows, exterior doors, HVAC, and three renovated bathrooms. Exposed ceiling rafters and a revised layout create an open office arrangement. The rear suite can be leased separately, and the owner is open to a short-term lease with a purchaser. Furniture, fixtures, and equipment may also be negotiated. The property is located at 516 East Main Street in Brownsburg, Indiana, and carries C-2 zoning.
The office suite has been comprehensively remodeled with updated electrical systems, LED lighting, plumbing, insulation, windows, exterior doors, HVAC, and three renovated bathrooms. Exposed ceiling rafters and a revised layout create an open office arrangement. The rear suite can be leased separately, and the owner is open to a short-term lease with a purchaser. Furniture, fixtures, and equipment may also be negotiated. The property is located at 516 East Main Street in Brownsburg, Indiana, and carries C-2 zoning.
Key Highlights
- 4,884‑square‑foot mixed‑use property at 516 East Main Street, Brownsburg, IN 46112
- 858sf front space occupied by a tenant with a recently extended lease
- 546sf pole barn and wash bay included with the front space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,446
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,428,920
$1.4M
Cap Rate 7%
$1,020,657
$1.0M
Cap Rate 9%
$793,844
$793.8K
Market Conditions
NOI Build-Up for 4,884 SF
Gross rent
$105.5K $21.60/SF
− Vacancy
−$10.2K −$2.10/SF
EGI
$95.3K $19.50/SF
− OpEx
−$23.8K −$4.88/SF
NOI
$71.4K $14.63/SF
Area
Hendricks County, IN
Vacancy
9.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,428,920
Cap Rate 7%
$1,020,657
Cap Rate 9%
$793,844
Alternative Uses
Best Use
Office B
$1.02M
$893.1K – $1.19M
NOI $71,446 @ 7.0% cap · market cap 8.93%
Second Best
Retail
$840.4K
$735.4K – $980.5K
NOI $58,831 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,821 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 46112, IN
41,562
Population
15,790
Households
2.6
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
42.1 sq mi
ZIP Area
987
Density / Sq Mi
$113,293
Median Household Income
$57,619
Median Earnings
$1,394
Median Rent
$295,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - C-2 zoning combines leased storefront space with a renovated rear office configuration.
Where is this mixed-use property located?
The property is located at 516 E Main St Brownsburg, IN.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 4,884‑square‑foot mixed‑use property at 516 East Main Street, Brownsburg, IN 46112; 858sf front space occupied by a tenant with a recently extended lease; 546sf pole barn and wash bay included with the front space
