Multi-Use Gas Station Retail
5982 W State Road 32 Anderson, IN 46011
For Sale
$875,000
Pending
COMMERCIAL - Anderson, IN
Property Size5,400 SF
Lot Size1.66 Acres
Days on Market112
Property Features for 5982 W State Road 32
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Standard status
Pending
APN
481118200011000031
Lot size
1.66 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Nw Nw 0.729 Acres Str: 18197
Building Details
Floors in Building
2
Listing Agency:
RE/MAX Realty Services
(317) 842-4747
Listed By:
Chris Schulhof · License #RB14031306
(317) 585-7653
Added: Apr 9
Changed: Jun 26
Last Checked: Jul 29 at 6:06AM
MLS# 22085978
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-use commercial building was formerly operated as a gas station and is offered with no tanks on site. The property includes over 5,400 square feet of space with multiple bays, along with upstairs living quarters that can support an additional income component. The site is comprised of two parcels and totals approximately 1.66 acres, providing room for a variety of redevelopment or operating strategies.
The property is positioned for easy access with high visibility and straightforward ingress/egress. It is located near major corridors, including I-69 and State Roads 32, 9, and 13, which can support day-to-day customer flow and convenient access for vehicles.
Given the existing bay configuration and the building’s retail storefront potential, the space may fit users seeking an automotive maintenance or service concept, a convenience-oriented operation, or a multi-tenant storefront approach (subject to applicable requirements). With upstairs living quarters already in place, owner-operators may also consider options where a residential component complements a service or retail use.
The property is positioned for easy access with high visibility and straightforward ingress/egress. It is located near major corridors, including I-69 and State Roads 32, 9, and 13, which can support day-to-day customer flow and convenient access for vehicles.
Given the existing bay configuration and the building’s retail storefront potential, the space may fit users seeking an automotive maintenance or service concept, a convenience-oriented operation, or a multi-tenant storefront approach (subject to applicable requirements). With upstairs living quarters already in place, owner-operators may also consider options where a residential component complements a service or retail use.
Key Highlights
- Multi‑use building formerly used as a gas station; no tanks on site
- Over 5,400 SF with multiple bays
- Upstairs living quarters for additional income
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.5k | $20.64 |
| − Vacancy | −$10.8k | −$2.00 |
| EGI | $100.6k | $18.64 |
| − OpEx | −$25.2k | −$4.66 |
| NOI | $75.5k | $13.98 |
5,400 SF · lease $20.64/SF/yr · vacancy 9.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.08M
$943.6K – $1.26M
NOI $75,484 @ 7.0% cap · market cap 8.63%
Second Best
Retail
$729.0K
$637.9K – $850.5K
NOI $51,030 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,124 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Gas station - Former gas station building with multiple bays, retail flex space, and upstairs living on two parcels.
Where is this gas station located?
The property is located at 5982 W State Road 32 Anderson, IN.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Multi‑use building formerly used as a gas station; no tanks on site; Over 5,400 SF with multiple bays; Upstairs living quarters for additional income
