Mixed-Use
For Sale
$1,350,000
609 Commerce Road, Richmond, IN 47374
Commercial property constructed in the late 1980s.
Property Size13,375 SF
Days on Market48
Property Features for 609 Commerce Road
General Information
Standard status
Active
Size
13,375 SF
Total Parking Spaces
40
Property subtype
Mixed Use
Building Details
Building Size
13,375 SF
Year Built
1987
Listing Agency:
Coldwell Banker Lingle
Listed By:
Alan Stamper · License #RB16001438
(765) 994-8822
Source:
Cbcworldwide
Added: Aug 21
Changed: Sep 14
Last Checked: Oct 5 at 3:02PM
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 Coldwell Banker Lingle
Investment Insights
Based on property information with market context.
This mixed-use commercial property was constructed in 1987. The asset is located at 609 Commerce Road in Richmond, Indiana, with the property information identifying it for sale.
Key Highlights
- Constructed in 1987
- Located at 609 Commerce Road, Richmond, IN 47374
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,366
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,347,320
$2.3M
Cap Rate 7%
$1,676,657
$1.7M
Cap Rate 9%
$1,304,067
$1.3M
Market Conditions
NOI Build-Up for 13,375 SF
Gross rent
$208.7K $15.60/SF
− Vacancy
−$20.9K −$1.56/SF
EGI
$187.8K $14.04/SF
− OpEx
−$70.4K −$5.27/SF
NOI
$117.4K $8.77/SF
Area
Wayne County, IN
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,347,320
Cap Rate 7%
$1,676,657
Cap Rate 9%
$1,304,067
Alternative Uses
Best Use
Mixed Use
$1.68M
$1.47M – $1.96M
NOI $117,366 @ 7.0% cap · market cap 8.69%
Second Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,615 @ 7.0% cap · market cap 8.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 47374, IN
45,304
Population
21,553
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
119.8 sq mi
ZIP Area
378
Density / Sq Mi
$52,566
Median Household Income
$34,168
Median Earnings
$816
Median Rent
$121,800
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 Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property constructed in the late 1980s.
Where is this mixed-use property located?
The property is located at 609 Commerce Road Richmond, IN.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Constructed in 1987; Located at 609 Commerce Road, Richmond, IN 47374
