Flex Building with Geothermal
616A-622 Main Street, Hebron, IN 46341
For Sale
Contact for pricing
Industrial flex property combining conditioned production space with multi-level office improvements and conference areas.
Property Size30,000 SF
Price / SF$113
Days on Market108
Property Features for 616A-622 Main Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Lease Type
Additional Details
Conditioned Warehouse
Amenities
Conference Rooms
Break Rooms
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Building Size
Listing Agency:
Commercial In-Sites LLC
Listed By:
Jeff Brennan · License IN RB20001982
Source:
Crexi
Added: Jul 31
Changed: Nov 4
Last Checked: Nov 14 at 3:41AM
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 Commercial In-Sites LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 30,000-square-foot flex property, built in 1974, combines industrial production or warehouse space with office improvements. The front section includes a two-story office component, multiple conference and break rooms, and a two-story entrance and reception area. A loft office is positioned within the warehouse area.
Geothermal heating and cooling serves the entire building, while radiant heating and cooling extends across the floors. Insulated walls and ceilings support temperature control throughout the facility, including the warehouse and production areas. The property is located at 616A-622 Main Street in Hebron, Indiana, and carries I-1/C-2 zoning.
Geothermal heating and cooling serves the entire building, while radiant heating and cooling extends across the floors. Insulated walls and ceilings support temperature control throughout the facility, including the warehouse and production areas. The property is located at 616A-622 Main Street in Hebron, Indiana, and carries I-1/C-2 zoning.
Key Highlights
- 30,000 square feet of usable flex space
- Geothermal heating and cooling throughout the building
- Radiant heat and cooling in floors throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,275
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,565,500
$3.6M
Cap Rate 7%
$2,546,786
$2.5M
Cap Rate 9%
$1,980,833
$2.0M
Market Conditions
NOI Build-Up for 30,000 SF
Gross rent
$298.8K $9.96/SF
− Vacancy
−$24.5K −$0.82/SF
EGI
$274.3K $9.14/SF
− OpEx
−$96.0K −$3.20/SF
NOI
$178.3K $5.94/SF
Area
Porter County, IN
Vacancy
8.21%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,565,500
Cap Rate 7%
$2,546,786
Cap Rate 9%
$1,980,833
Alternative Uses
Best Use
Office B
$5.15M
$4.50M – $6.01M
NOI $360,396 @ 7.0% cap · market cap 10.63%
Second Best
Flex RnD
$2.55M
$2.23M – $2.97M
NOI $178,275 @ 7.0% cap · market cap 5.26%
Theoretical Best
Healthcare Medical
$11.37M
$9.95M – $13.27M
NOI $795,917 @ 7.0% cap · market cap 23.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46341, IN
10,518
Population
4,179
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
94%
High-School Grad
95.5 sq mi
ZIP Area
110
Density / Sq Mi
$99,444
Median Household Income
$55,298
Median Earnings
$897
Median Rent
$248,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- The House of Garlic — 105 W Sigler St, Hebron, IN 46341
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property combining conditioned production space with multi-level office improvements and conference areas.
Where is this flex space located?
The property is located at 616A-622 Main Street Hebron, IN.
What is the asking price?
The asking price for this property is $3,390,000.
What are key features of this property?
This property features: 30,000 square feet of usable flex space; Geothermal heating and cooling throughout the building; Radiant heat and cooling in floors throughout
