Standalone Bank Building with
For Sale
$270,000
525 Hartman Road, Anderson, IN 46012
Standalone former bank on a large corner lot with a drive-thru canopy and ample parking.
Property Size2,604 SF
Price / SF$103.69
Days on Market289
Property Features for 525 Hartman Road
General Information
Standard status
Active
Size
2,604 SF
Property subtype
Retail
Zoning
B-1
Amenities
3
Building Details
Year Built
1980
Listing Agency:
River to Ridge Rlty Associates
(317) 882-5900
Listed By:
Keller Williams Indy Metro Partners
Source:
Xome
Added: Oct 25, 2025
Changed: Aug 7
Last Checked: Aug 8 at 3:52AM
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 River to Ridge Rlty Associates
Investment Insights
Based on property information with market context.
Former bank building offered for sale on a large corner lot. The property is a stand-alone facility with a drive-thru canopy and ample parking. Zoned B-1, it may be suitable for a range of commercial uses including office, medical, retail service, and QSR.
Located at 525 E Hartman Road in Anderson, IN. The offering is presented with strong visibility and is intended to serve drive-up and walk-in customers.
With its prior bank configuration and B-1 zoning, the building provides a practical option for businesses looking for a drive-thru-capable site on a dedicated corner parcel.
Located at 525 E Hartman Road in Anderson, IN. The offering is presented with strong visibility and is intended to serve drive-up and walk-in customers.
With its prior bank configuration and B-1 zoning, the building provides a practical option for businesses looking for a drive-thru-capable site on a dedicated corner parcel.
Key Highlights
- Former bank building at 525 E Hartman Rd in Anderson, IN 46012
- Stand‑alone property with drive‑thru canopy
- Large corner lot with ample parking
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
$24,608
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
9.11%
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%
$492,160
$492.2K
Cap Rate 7%
$351,543
$351.5K
Cap Rate 9%
$273,422
$273.4K
Market Conditions
NOI Build-Up for 2,604 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
$39.1K $15.00/SF
− Vacancy
−$3.9K −$1.50/SF
EGI
$35.2K $13.50/SF
− OpEx
−$10.5K −$4.05/SF
NOI
$24.6K $9.45/SF
Area
Madison County, IN
Vacancy
10.00%
Lease Rate
$15.00 /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%
$492,160
Cap Rate 7%
$351,543
Cap Rate 9%
$273,422
Alternative Uses
Best Use
Specialty Retail
$520.0K
$455.0K – $606.7K
NOI $36,400 @ 7.0% cap · market cap 13.48%
Second Best
Retail
$351.5K
$307.6K – $410.1K
NOI $24,608 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$600.2K
$525.2K – $700.2K
NOI $42,013 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
50k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
McDonald's
Dining
23,073 visits/mo
0.4 miles
Speedway
Shops & Services
15,473 visits/mo
0.2 miles
Arby's
Dining
11,270 visits/mo
0.5 miles
Demographics for 46012, IN
19,108
Population
9,659
Households
2
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
32.0 sq mi
ZIP Area
597
Density / Sq Mi
$58,538
Median Household Income
$36,017
Median Earnings
$982
Median Rent
$149,400
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?
Bank - Standalone former bank on a large corner lot with a drive-thru canopy and ample parking.
Where is this bank located?
The property is located at 525 Hartman Road Anderson, IN.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Former bank building at 525 E Hartman Rd in Anderson, IN 46012; Stand‑alone property with drive‑thru canopy; Large corner lot with ample parking
