Corner Office
For Sale
$450,000
905 S Scatterfield Road, Anderson, IN 46012
Commercial Sale, Anderson, IN
Property Size2,433 SF
Lot Size0.65 Acres
Price / SF$184.96
Days on Market241
Property Features for 905 S Scatterfield Road
General Information
Property type
Residential
Property subtype
Retail
Zoning
B-2
Elementary school district
Anderson Community School Corp
Middle school district
Anderson Community School Corp
High school district
Anderson Community School Corp
Directions
GPS Friendly
Subdivision
4810 - Madison - Anderson NW
Standard status
Active
APN
481207404058000003
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Se Se 0.6540Acres Str: 07198 Section: Plat: 21 In: Out:
Legal Description
Se Se 0.6540Acres Str: 07198 Section: Plat: 21 In: Out:
Utilities
Utilities
Cable Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1979
Floors in Building
1
Roof type
Asphalt
Listing Agency:
RE/MAX Real Estate Solutions · RE/MAX International
(765) 640-1900
Listed By:
Jim Bittner · License #RB14043091
(765) 425-1008
Added: Jan 14
Changed: Sep 11
Last Checked: Sep 12 at 1:06PM
MLS# 22080103
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,433-square-foot office property occupies a 0.65-acre corner site at South Scatterfield Road and 9th Street in Anderson. Constructed in 1979, the building includes a broad open work area, break room, manager’s office, and two bathrooms. The property previously operated as a bank branch and travel agency, and the existing layout is identified for retail, general office, restaurant, or other business uses.
An asphalt parking lot provides 20+ spaces, with two curb cuts on 9th Street. Building systems include natural gas and forced-air heat, central air conditioning, an asphalt roof, and cable availability. B-2 zoning applies to the property.
An asphalt parking lot provides 20+ spaces, with two curb cuts on 9th Street. Building systems include natural gas and forced-air heat, central air conditioning, an asphalt roof, and cable availability. B-2 zoning applies to the property.
Key Highlights
- 2,433‑square‑foot office building on a 0.65‑acre site
- B‑2 zoning with identified retail, office, restaurant, and business‑use possibilities
- Open office area with break room, manager’s office, and 2 bathrooms
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
Retail
$328.5K
$287.4K – $383.2K
NOI $22,992 @ 7.0% cap · market cap 5.11%
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - B-2-zoned property with open office space, break room, and manager’s office.
Where is this office building located?
The property is located at 905 S Scatterfield Road 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 on a 0.65‑acre site; B‑2 zoning with identified retail, office, restaurant, and business‑use possibilities; Open office area with break room, manager’s office, and 2 bathrooms
