Insulated Flex Shop with 400-Amp
For Sale
$469,900
8550 N Fish Rd, Bloomington, IN 47408
Finished workshop with industrial power, storage racking, security, and utility infrastructure.
Property Size3,200 SF
Lot Size15.75 Acres
Price / SF$146.84
Days on Market13
Property Features for 8550 N Fish Rd
General Information
Standard status
Active
Size
3,200 SF
Lot size
15.75 Acres
Property subtype
Land/Lot
Warehouse & Industrial
Clear Height
12 ft
Power
400 amps
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Land Use
recreational, commercial, forest, hunting
Amenities
electric furnace
half bath
city water
Presby septic system
industrial storage racking
Smithville security system
LeafFilter gutter system
Building Details
Buildings
1
Building Size
3,200 SF
Listing Agency:
Keller Williams - Indy Metro South LLC
(812) 305-4663
Listed By:
Micah Heath micah.heath@kw.com
Source:
Northeastindianahomefinder
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 25 at 7:23AM
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 Keller Williams - Indy Metro South LLC
Investment Insights
Based on property information with market context.
This flex-space property includes a finished, fully insulated 40' x 80' shop with 12' ceilings, sheet-metal interior walls, fluorescent lighting, and 400-amp electrical service. Power capabilities include 220V single-phase, 220V three-phase, and 440V three-phase, supported by a 40 HP rotary motor, phase converter, and step-up transformer. The building also has an electric furnace, half bath, city water, Presby septic, and two sets of industrial storage racking.
The 15.75-acre property at 8550 N Fish Road includes wooded acreage, recreational land, and approximately four acres of certified forest. Two potential homesites have utilities readily accessible. Additional improvements include a monitored security system with door monitoring and two motion sensors, plus a LeafFilter gutter system installed in 2025 with a transferable lifetime warranty. Professional termite treatment was completed in April 2024 with a five-year warranty.
The 15.75-acre property at 8550 N Fish Road includes wooded acreage, recreational land, and approximately four acres of certified forest. Two potential homesites have utilities readily accessible. Additional improvements include a monitored security system with door monitoring and two motion sensors, plus a LeafFilter gutter system installed in 2025 with a transferable lifetime warranty. Professional termite treatment was completed in April 2024 with a five-year warranty.
Key Highlights
- 40' x 80' fully insulated and finished shop with 12' ceilings
- 400‑amp service with 220V single‑phase, 220V three‑phase, and 440V three‑phase capabilities
- 40 HP rotary motor, phase converter, and step‑up transformer included
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
$28,704
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
6.11%
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%
$574,080
$574.1K
Cap Rate 7%
$410,057
$410.1K
Cap Rate 9%
$318,933
$318.9K
Market Conditions
NOI Build-Up for 3,200 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
$48.0K $15.00/SF
− Vacancy
−$3.8K −$1.20/SF
EGI
$44.2K $13.80/SF
− OpEx
−$15.5K −$4.83/SF
NOI
$28.7K $8.97/SF
Area
Monroe County, IN
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$574,080
Cap Rate 7%
$410,057
Cap Rate 9%
$318,933
Alternative Uses
Best Use
Flex RnD
$410.1K
$358.8K – $478.4K
NOI $28,704 @ 7.0% cap · market cap 6.11%
Second Best
Warehouse
$328.2K
$287.2K – $382.9K
NOI $22,975 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$625.4K
$547.2K – $729.6K
NOI $43,778 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47408, IN
22,917
Population
10,456
Households
2.2
Avg Household Size
28
Median Age
59%
College-Educated
98%
High-School Grad
64.4 sq mi
ZIP Area
356
Density / Sq Mi
$45,584
Median Household Income
$15,819
Median Earnings
$1,177
Median Rent
$304,600
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?
Flex space - Finished workshop with industrial power, storage racking, security, and utility infrastructure.
Where is this flex space located?
The property is located at 8550 N Fish Rd Bloomington, IN.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 40' x 80' fully insulated and finished shop with 12' ceilings; 400‑amp service with 220V single‑phase, 220V three‑phase, and 440V three‑phase capabilities; 40 HP rotary motor, phase converter, and step‑up transformer included
