Mixed-Use Property with Office
For Sale
Contact for pricing
516 East Main Street, Brownsburg, IN 46112
C-2 zoning combines leased storefront space with a renovated rear office configuration.
Property Size4,884 SF
Price / SF$174.04
Days on Market15
Property Features for 516 East Main Street
General Information
Standard status
Active
Size
4,884 SF
Property subtype
Retail, Office
Zoning
C-2
Occupancy
100%
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Year Built
1967
Year Renovated
2022
Buildings
1
Units
3
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Carpenter Hills O'Brown
Listed By:
Dave DeSutter · License #IN RB20000578
Source:
Crexi
Added: Jul 23
Changed: Aug 3
Last Checked: Aug 6 at 3:25AM
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 Carpenter Hills O'Brown
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 = 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
$71,446
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
8.41%
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%
$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
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
$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 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%
$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 8.41%
Second Best
Retail
$840.4K
$735.4K – $980.5K
NOI $58,831 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,821 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
762
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
Market
Vacancy Rate% for Office 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?
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 East Main Street Brownsburg, IN.
What is the asking price?
The asking price for this property is $850,000.
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
