Mixed-Use Commercial
New
For Sale
$275,000
809 E 8th St, Anderson, IN 46012
The 2,430-square-foot property has updated LED lighting, a canopy-covered parking area, and access from two streets.
Property Size2,430 SF
Price / SF$113.17
Days on Market5
Property Features for 809 E 8th St
General Information
Standard status
Active
Size
2,430 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Building Size
2,430 SF
Construction
brick
Listing Agency:
JNW Real Estate LLC
Listed By:
Jim Wood
(765) 617-7611
Source:
Exprealty
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 1:56PM
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 JNW Real Estate LLC
Investment Insights
Based on property information with market context.
This 2,430-square-foot mixed-use property has a brick exterior, newer roof and HVAC, updated interior finishes, and LED lighting. Ceiling tiles may be removed to reveal wooden cathedral ceilings. The site also includes a large parking area with a canopy and a freestanding metal pylon sign.
Access is available from two streets, with routes to downtown Anderson, State Road 32, Scatterfield Road, and Interstate 69. Anderson University is nearby. A narrow portion of one parcel lies within a floodplain; the building itself is outside the floodplain.
Access is available from two streets, with routes to downtown Anderson, State Road 32, Scatterfield Road, and Interstate 69. Anderson University is nearby. A narrow portion of one parcel lies within a floodplain; the building itself is outside the floodplain.
Key Highlights
- 2,430 square feet of mixed‑use commercial space
- Newer roof and HVAC, with LED lighting
- Wooden cathedral ceilings are concealed above removable ceiling tiles
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
$24,057
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
8.75%
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%
$481,140
$481.1K
Cap Rate 7%
$343,671
$343.7K
Cap Rate 9%
$267,300
$267.3K
Market Conditions
NOI Build-Up for 2,430 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
$43.7K $18.00/SF
− Vacancy
−$5.2K −$2.16/SF
EGI
$38.5K $15.84/SF
− OpEx
−$14.4K −$5.94/SF
NOI
$24.1K $9.90/SF
Area
Madison County, IN
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$481,140
Cap Rate 7%
$343,671
Cap Rate 9%
$267,300
Alternative Uses
Best Use
Mixed Use
$343.7K
$300.7K – $401.0K
NOI $24,057 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.1K
$490.1K – $653.4K
NOI $39,206 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 46012, IN
19,108
Population
9,659
Households
2
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
32.0 sq mi
ZIP Area
597
Density / Sq Mi
$58,538
Median Household Income
$36,017
Median Earnings
$982
Median Rent
$149,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The 2,430-square-foot property has updated LED lighting, a canopy-covered parking area, and access from two streets.
Where is this mixed-use property located?
The property is located at 809 E 8th St Anderson, IN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,430 square feet of mixed‑use commercial space; Newer roof and HVAC, with LED lighting; Wooden cathedral ceilings are concealed above removable ceiling tiles
