Multi-Tenant Strip Center
808 3rd Street Columbus, IN 47201
808 3rd Street, Columbus, IN, 47201
$1,100,000
For Sale
$1,100,000
Fully occupied 5-unit strip center with about 27 parking spaces and MTM leases near downtown Columbus.
Property Size6,021 SF
Price / SF$182.69
Days on Market93
Property Features for 808 3rd Street
General Information
- Standard status
- Active
- Size
- 6,021 SF
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 1989
Listing agency
RE/MAX Real Estate Prof
(812) 372-2200
Listed by
Carrie Abfall · License #RB14022856
(812) 372-2200
Source
Compass
Added: Apr 21 Updated: Jul 21 at 9:32PM Checked: Jul 21 at 9:32PM
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 RE/MAX Real Estate Prof
Investment Insights
Based on property information with market context.
This fully occupied 5-unit strip center offers approximately 6,000 SF of retail and office-oriented space. The property includes about 27 parking spaces, with approximately 15 front customer-facing spaces, plus additional side-street and rear parking areas to support day-to-day access. Current leasing is described as month-to-month (MTM).
The center is located along 3rd Street in Columbus, IN, with the public remarks citing approximately 15,000+ vehicles per day (2021 data). It is described as having corner accessibility and broad tenant appeal, with nearby bus routes 4 and 5 providing additional walking traffic. The remarks also state the property is three blocks south of downtown Columbus/Washington Street and approximately 0.1 mile west of the Cummins Engine Plant.
The tenant mix is described as including an owner-operated business and a range of flexible suites, supporting diversified occupancy including retail, office, boutique medical, personal service, cafe, and specialty commercial users. The remarks further state the property is not located within a flood zone or historic district.
The center is located along 3rd Street in Columbus, IN, with the public remarks citing approximately 15,000+ vehicles per day (2021 data). It is described as having corner accessibility and broad tenant appeal, with nearby bus routes 4 and 5 providing additional walking traffic. The remarks also state the property is three blocks south of downtown Columbus/Washington Street and approximately 0.1 mile west of the Cummins Engine Plant.
The tenant mix is described as including an owner-operated business and a range of flexible suites, supporting diversified occupancy including retail, office, boutique medical, personal service, cafe, and specialty commercial users. The remarks further state the property is not located within a flood zone or historic district.
Key Highlights
- Fully occupied 5‑unit, 6,000 SF strip center with MTM leases
- Approximately 27 parking spaces, including about 15 customer‑facing front spaces
- Located on 3rd Street with approximately 15,000+ vehicles per day (2021 data)
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.7k | $25.20 |
| − Vacancy | −$15.9k | −$2.65 |
| EGI | $135.8k | $22.55 |
| − OpEx | −$54.3k | −$9.02 |
| NOI | $81.5k | $13.53 |
6,021 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.16M
$1.02M – $1.36M
NOI $81,479 @ 7.0% cap · market cap 7.41%
Second Best
Office B
$581.0K
$508.4K – $677.8K
NOI $40,669 @ 7.0% cap · market cap 3.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
PIP Marketing, Signs, ...
Marketing & Advertising
Snipp It The Salon
Cosmetic Store
The Nutrition Lounge
Cafe & Coffee Shop
South Central Indiana ...
Medical Clinic
Office Pride
Commercial Cleaning Service
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Fully occupied 5-unit strip center with about 27 parking spaces and MTM leases near downtown Columbus.
Where is this strip mall located?
The property is located at 808 3rd Street Columbus, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully occupied 5‑unit, 6,000 SF strip center with MTM leases; Approximately 27 parking spaces, including about 15 customer‑facing front spaces; Located on 3rd Street with approximately 15,000+ vehicles per day (2021 data)
