8-Unit Apartment
For Sale
$869,900
8436 E State Road 32, Anderson, IN 46017
Residential income property with eight units at an Anderson address.
Property Size10,000 SF
Price / SF$86.99
Days on Market60
Property Features for 8436 E State Road 32
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
8
Building Details
Year Built
1975
Listing Agency:
Starr Real Estate LLC
Listed By:
Heather Clemmons · License #RB14039183
(765) 748-5066
Source:
Callcriswell
Added: Aug 15
Changed: Oct 2
Last Checked: Oct 7 at 3:43PM
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 Starr Real Estate LLC
Investment Insights
Based on property information with market context.
This apartment property includes 8 residential units and is located at 8436 E State Road 32, Anderson, IN 46017.
Key Highlights
- 8 residential units
- Located at 8436 E State Road 32, Anderson, IN 46017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,715
Cap Rate
8.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,534,300
$1.5M
Cap Rate 7%
$1,095,929
$1.1M
Cap Rate 9%
$852,389
$852.4K
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$147.6K $14.76/SF
− Vacancy
−$8.1K −$0.81/SF
EGI
$139.5K $13.95/SF
− OpEx
−$62.8K −$6.28/SF
NOI
$76.7K $7.67/SF
Area
Madison County, IN
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,534,300
Cap Rate 7%
$1,095,929
Cap Rate 9%
$852,389
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$958.9K – $1.28M
NOI $76,715 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,341 @ 7.0% cap · market cap 18.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 46017, IN
5,930
Population
2,386
Households
2.5
Avg Household Size
44
Median Age
19%
College-Educated
94%
High-School Grad
17.7 sq mi
ZIP Area
335
Density / Sq Mi
$72,468
Median Household Income
$40,140
Median Earnings
$972
Median Rent
$138,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Residential income property with eight units at an Anderson address.
Where is this apartment building located?
The property is located at 8436 E State Road 32 Anderson, IN.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: 8 residential units; Located at 8436 E State Road 32, Anderson, IN 46017
