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8000 Hardy Way, Sellersburg, IN 47172
Fully leased commercial building in high-demand Southern Indiana corridor.
Property Size9,200 SF
Price / SF$157.07
Days on Market87
Property Features for 8000 Hardy Way
General Information
Standard status
Active
Size
9,200 SF
Property subtype
Retail, Industrial
Zoning
TC
Occupancy
100%
Building Details
Year Built
2024
Buildings
1
Tenancy
Multi
Listing Agency:
Lopp Realtors
(502) 599-4522
Listed By:
Staci Flispart · License #IN RB16000808
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Jun 26 at 5:46PM
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 Lopp Realtors
Investment Insights
Based on property information with market context.
This newly constructed commercial building, completed in 2024, offers a fully leased investment opportunity. The property contains over 9,000 square feet of space and is located with direct access off Charlestown Road, with proximity to Interstate 65. The location benefits from the regional trade area and growth of the Louisville metro market. The building features multiple individual multi-use spaces suitable for professional offices, service providers, retail, and light commercial operations. Ample on-site parking is available. The property is currently at 100% occupancy, offering in-place cash flow and long-term upside in a high-demand market. It is designed for a variety of commercial uses. Square footage, taxes, flood zone and school systems are to be verified by the buyer(s) or Buyer's Agent if critical to the buyer(s).
Key Highlights
- Fully leased, newly constructed (2024) commercial building providing immediate, stable income.
- Prime location with direct access off Charlestown Road and exceptional proximity to Interstate 65, offering outstanding visibility.**
- Located in a high‑demand market within a strong and growing regional trade area near the Louisville metro.
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
$111,051
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
7.69%
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%
$2,221,020
$2.2M
Cap Rate 7%
$1,586,443
$1.6M
Cap Rate 9%
$1,233,900
$1.2M
Market Conditions
NOI Build-Up for 9,200 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
$165.6K $18.00/SF
− Vacancy
−$7.0K −$0.76/SF
EGI
$158.6K $17.24/SF
− OpEx
−$47.6K −$5.17/SF
NOI
$111.1K $12.07/SF
Area
Clark County, IN
Vacancy
4.20%
Lease Rate
$18.00 /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%
$2,221,020
Cap Rate 7%
$1,586,443
Cap Rate 9%
$1,233,900
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,051 @ 7.0% cap · market cap 7.69%
Second Best
Industrial
$526.5K
$460.7K – $614.2K
NOI $36,854 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,238 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 47172, IN
19,821
Population
8,537
Households
2.3
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
24.3 sq mi
ZIP Area
816
Density / Sq Mi
$80,525
Median Household Income
$48,560
Median Earnings
$1,152
Median Rent
$249,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Fully leased commercial building in high-demand Southern Indiana corridor.
Where is this retail property located?
The property is located at 8000 Hardy Way Sellersburg, IN.
What is the asking price?
The asking price for this property is $1,445,000.
What are key features of this property?
This property features: Fully leased, newly constructed (2024) commercial building providing immediate, stable income.; Prime location with direct access off Charlestown Road and exceptional proximity to Interstate 65, offering outstanding visibility.**; Located in a high‑demand market within a strong and growing regional trade area near the Louisville metro.
