Warehouse and Office Flex
For Sale
$324,900
615 Walnut Street, Jeffersonville, IN 47130
Warehouse space with one 12' garage door plus dedicated office, conference, kitchen, and two-bath facilities.
Property Size5,000 SF
Price / SF$64.98
Days on Market3273
Property Features for 615 Walnut Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Zoning
C-2
Additional Details
Clear Height
22.5 ft
Taxes and HOA fees
Annual Taxes
$7,296
Amenities
3
5 Parking Spaces.
Building Details
Year Built
1905
Listing Agency:
Lincoln Crum Realty
(812) 282-6043
Listed By:
Lincoln Crum
(812) 557-1700
Source:
Xome
Added: Sep 23, 2017
Changed: Sep 1
Last Checked: Sep 8 at 3:29AM
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 Lincoln Crum Realty
Investment Insights
Based on property information with market context.
This warehouse and office flex space is currently set up to combine a functional distribution area with dedicated interior office use. The warehouse includes 22.5' high to center and features one 12' commercial bay garage door. The building also includes approximately 1,300+ square feet of office, conference, and kitchen area, along with two bathrooms.
Located in the Downtown Commercial District of Jeffersonville, the property is about one block from the Clark County Courthouse and a new downtown elementary school. The Downtown Commercial District permitted uses include, but are not limited to, residential (single or multi-family), general business, office/professional, recreation, retail, and food service/sales.
Property taxes shown reflect the total building amount prior to recent separation, when approximately two-thirds of the space was sold off. The future property taxes should be based on the current one-third of the previous total space. All measurements and square footage are approximate.
Located in the Downtown Commercial District of Jeffersonville, the property is about one block from the Clark County Courthouse and a new downtown elementary school. The Downtown Commercial District permitted uses include, but are not limited to, residential (single or multi-family), general business, office/professional, recreation, retail, and food service/sales.
Property taxes shown reflect the total building amount prior to recent separation, when approximately two-thirds of the space was sold off. The future property taxes should be based on the current one-third of the previous total space. All measurements and square footage are approximate.
Key Highlights
- Warehouse and office space in Jeffersonville’s Downtown Commercial District, currently set up as warehouse and office
- Over 5,000 total SF with 1,300+ SF dedicated to office, conference, and kitchen area
- Warehouse includes 22.5' high‑to‑center clearance and one 12' commercial bay garage door
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
$24,321
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
7.49%
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%
$486,420
$486.4K
Cap Rate 7%
$347,443
$347.4K
Cap Rate 9%
$270,233
$270.2K
Market Conditions
NOI Build-Up for 5,000 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
$30.8K $6.16/SF
− Vacancy
−$2.2K −$0.44/SF
EGI
$28.6K $5.72/SF
− OpEx
−$4.3K −$0.86/SF
NOI
$24.3K $4.86/SF
Area
Clark County, IN
Vacancy
7.10%
Lease Rate
$6.16 /SF/Yr
Expense Ratio
15.00%
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%
$486,420
Cap Rate 7%
$347,443
Cap Rate 9%
$270,233
Alternative Uses
Best Use
Office B
$1.09M
$954.0K – $1.27M
NOI $76,320 @ 7.0% cap · market cap 23.49%
Second Best
Flex RnD
$623.1K
$545.2K – $727.0K
NOI $43,618 @ 7.0% cap · market cap 13.43%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,760 @ 7.0% cap · market cap 31.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,640
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47130, IN
48,481
Population
22,602
Households
2.1
Avg Household Size
39
Median Age
25%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
1,430
Density / Sq Mi
$68,412
Median Household Income
$40,941
Median Earnings
$1,090
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse space with one 12' garage door plus dedicated office, conference, kitchen, and two-bath facilities.
Where is this flex space located?
The property is located at 615 Walnut Street Jeffersonville, IN.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Warehouse and office space in Jeffersonville’s Downtown Commercial District, currently set up as warehouse and office; Over 5,000 total SF with 1,300+ SF dedicated to office, conference, and kitchen area; Warehouse includes 22.5' high‑to‑center clearance and one 12' commercial bay garage door
