Brick Retail Space with
For Sale
$199,800
Pending
604 S Main Street, Edinburgh, IN 46124
Commercial Sale, Edinburgh, IN
Property Size1,440 SF
Lot Size0.20 Acres
Days on Market73
Property Features for 604 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial B1
Parking features
Alley
Elementary school
East Side Elementary School
Middle school
Edinburgh Comm Middle School
High school
Edinburgh Community High School
Elementary school district
Edinburgh Community School Corp
Middle school district
Edinburgh Community School Corp
High school district
Edinburgh Community School Corp
Directions
GPS Friendly
Subdivision
4109 - Johnson - Blue River
Standard status
Pending
APN
411234033125000002
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Main & County Line Admin Sub Replat - Lot 2A
Tax Annual Amount
2574
Legal Description
Main & County Line Admin Sub Replat - Lot 2A
Building Details
Year built
1930
Roof type
Metal
Listing Agency:
RE/MAX Tower · RE/MAX International
(812) 662-7878
Listed By:
Morgan Eden · License #RB21001346
(812) 614-9168
Added: Jul 6
Changed: Sep 15
Last Checked: Sep 16 at 1:06PM
MLS# 22112320
Copyright © 2026 Broker Listing Cooperative®. 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 1,440-square-foot brick retail building provides an adaptable interior with a broad main area, one private office, and a bathroom. The property carries B1 Commercial zoning and is configured for retail, office, studio, and service-based uses. Major building systems have been updated, including the roof, electrical service, and HVAC. A metal roof is in place, and the structure dates to 1930.
The property occupies 0.2 acres at 604 S Main Street in Edinburgh, Indiana. Alley access is listed among the parking features, providing an additional practical site element for the commercial property.
The property occupies 0.2 acres at 604 S Main Street in Edinburgh, Indiana. Alley access is listed among the parking features, providing an additional practical site element for the commercial property.
Key Highlights
- 1,440‑square‑foot brick commercial building
- B1 Commercial zoning
- Open main area with private office and bathroom
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
$15,749
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
7.88%
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%
$314,980
$315.0K
Cap Rate 7%
$224,986
$225.0K
Cap Rate 9%
$174,989
$175.0K
Market Conditions
NOI Build-Up for 1,440 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
$24.2K $16.80/SF
− Vacancy
−$1.7K −$1.18/SF
EGI
$22.5K $15.62/SF
− OpEx
−$6.7K −$4.69/SF
NOI
$15.7K $10.94/SF
Area
Johnson County, IN
Vacancy
7.00%
Lease Rate
$16.80 /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%
$314,980
Cap Rate 7%
$224,986
Cap Rate 9%
$174,989
Alternative Uses
Best Use
Retail
$225.0K
$196.9K – $262.5K
NOI $15,749 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.9K
$317.5K – $423.4K
NOI $25,402 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 46124, IN
7,891
Population
3,118
Households
2.5
Avg Household Size
41
Median Age
15%
College-Educated
89%
High-School Grad
73.6 sq mi
ZIP Area
107
Density / Sq Mi
$67,926
Median Household Income
$35,974
Median Earnings
$798
Median Rent
$184,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open commercial layout with a private office, bathroom, and B1 zoning for retail and service-oriented business uses.
Where is this retail space located?
The property is located at 604 S Main Street Edinburgh, IN.
What is the asking price?
The asking price for this property is $199,800.
What are key features of this property?
This property features: 1,440‑square‑foot brick commercial building; B1 Commercial zoning; Open main area with private office and bathroom
