Corner Office
For Sale
$450,000
905 S Scatterfield Rd, Anderson, IN 46012
Open-plan commercial building with private management space, employee amenities, and parking access from two curb cuts.
Property Size2,433 SF
Price / SF$184.96
Days on Market39
Property Features for 905 S Scatterfield Rd
General Information
Standard status
Active
Size
2,433 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1979
Buildings
1
Building Size
2,433 SF
Listing Agency:
RE/MAX Real Estate Solutions
(765) 640-1900
Listed By:
Jim Bittner · License #RB14043091
Source:
Eveloteam
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 10:55AM
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 Solutions
Investment Insights
Based on property information with market context.
This 2,433-square-foot office building occupies the southwest corner of South Scatterfield Road and 9th Street. Constructed in 1979, the property includes a broad open office area, a manager’s office, break room, and two bathrooms. The existing layout supports general office operations while also accommodating retail, restaurant, and other business uses identified for the property.
An asphalt parking lot provides 20+ spaces, with two curb cuts serving the 9th Street frontage. The building previously operated as a bank branch and travel agency, offering a commercial configuration adaptable to a range of occupiers.
An asphalt parking lot provides 20+ spaces, with two curb cuts serving the 9th Street frontage. The building previously operated as a bank branch and travel agency, offering a commercial configuration adaptable to a range of occupiers.
Key Highlights
- 2,433‑square‑foot office building at the southwest corner of South Scatterfield Road and 9th Street
- Constructed in 1979
- 20+ spaces in the asphalt parking lot
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
$32,032
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
7.12%
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%
$640,640
$640.6K
Cap Rate 7%
$457,600
$457.6K
Cap Rate 9%
$355,911
$355.9K
Market Conditions
NOI Build-Up for 2,433 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
$47.3K $19.44/SF
− Vacancy
−$4.6K −$1.89/SF
EGI
$42.7K $17.55/SF
− OpEx
−$10.7K −$4.39/SF
NOI
$32.0K $13.17/SF
Area
Madison County, IN
Vacancy
9.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
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%
$640,640
Cap Rate 7%
$457,600
Cap Rate 9%
$355,911
Alternative Uses
Best Use
Office B
$457.6K
$400.4K – $533.9K
NOI $32,032 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.8K
$490.7K – $654.2K
NOI $39,254 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
363
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Open-plan commercial building with private management space, employee amenities, and parking access from two curb cuts.
Where is this office building located?
The property is located at 905 S Scatterfield Rd Anderson, IN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,433‑square‑foot office building at the southwest corner of South Scatterfield Road and 9th Street; Constructed in 1979; 20+ spaces in the asphalt parking lot
