Four-Unit Renovated Retail
For Sale
$1,100,000
Pending
518 W Main Street, Newburgh, IN 47630
COMMERCIAL, Newburgh, IN
Property Size5,845 SF
Lot Size0.62 Acres
Days on Market52
Property Features for 518 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City
Directions
East on 69, Exit on Covert, Right on Covert, Left on W Main St
Subdivision
Warrick County
Standard status
Pending
APN
87-15-03-100-002.000-014
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
PT FRAC. S3 T7 R9 PT SW S34 T6 R9 .62 A.
Tax Annual Amount
6381
Legal Description
PT FRAC. S3 T7 R9 PT SW S34 T6 R9 .62 A.
Utilities
Cooling system
Central Air, Multi Units
Building Details
Year built
1963
Flooring type
Mixed
Roof type
Metal
Listing Agency:
KELLER WILLIAMS CAPITAL REALTY · Keller Williams Realty
(812) 422-4096
Listed By:
Andros L'Grand · License #RB21001061
(812) 270-8747
Added: Aug 26
Changed: Sep 4
Last Checked: Oct 16 at 6:06AM
MLS# 202635083
Copyright © 2026 Southwest Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This retail property contains 5,845 square feet arranged across four units on a 0.62-acre parcel. Renovation work by LA+D updated the building while retaining its established presence in Newburgh. Interior finishes include mixed flooring, and climate control is provided through central air and multiple cooling units.
Built in 1963, the property is located at 518 W Main Street in Newburgh, Indiana, within the historic downtown area. Its position near the downtown entrance places the building among the first properties encountered when arriving in that district. A metal roof completes the primary building improvements.
Built in 1963, the property is located at 518 W Main Street in Newburgh, Indiana, within the historic downtown area. Its position near the downtown entrance places the building among the first properties encountered when arriving in that district. A metal roof completes the primary building improvements.
Key Highlights
- 5,845‑square‑foot retail property configured as four units
- 0.62‑acre parcel at 518 W Main Street, Newburgh, IN 47630
- Renovated by LA+D
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,558
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,511,160
$1.5M
Cap Rate 7%
$1,079,400
$1.1M
Cap Rate 9%
$839,533
$839.5K
Market Conditions
NOI Build-Up for 5,845 SF
Gross rent
$110.8K $18.96/SF
− Vacancy
−$2.9K −$0.49/SF
EGI
$107.9K $18.47/SF
− OpEx
−$32.4K −$5.54/SF
NOI
$75.6K $12.93/SF
Area
Warrick County, IN
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,511,160
Cap Rate 7%
$1,079,400
Cap Rate 9%
$839,533
Alternative Uses
Best Use
Retail
$1.08M
$944.5K – $1.26M
NOI $75,558 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,955 @ 7.0% cap · market cap 7.36%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 47630, IN
38,309
Population
15,620
Households
2.5
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
47.0 sq mi
ZIP Area
815
Density / Sq Mi
$101,462
Median Household Income
$53,105
Median Earnings
$1,108
Median Rent
$255,200
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Renovated commercial space offers flexible multi-unit occupancy with central air and mixed flooring.
Where is this retail space located?
The property is located at 518 W Main Street Newburgh, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,845‑square‑foot retail property configured as four units; 0.62‑acre parcel at 518 W Main Street, Newburgh, IN 47630; Renovated by LA+D
