High-Traffic Corner Commercial
For Sale
Contact for pricing
900 S A St, Richmond, IN 47374
Prime corner lot with commercial building in Richmond's downtown.
Property Size2,859 SF
Lot Size0.39 Acres
Price / SF$174.54
Days on Market666
Property Features for 900 S A St
General Information
Standard status
Active
Size
2,859 SF
Total Parking Spaces
25
Lot size
0.39 Acres
Property subtype
Mixed Use, Retail, Special Purpose
Occupancy
100%
Building Details
Year Built
1950
Year Renovated
2000
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Lingle
Listed By:
Alan Stamper · License #IN RB16001438
(727) 771-8773
Source:
Crexi
Added: Nov 8, 2024
Changed: Aug 24
Last Checked: Sep 2 at 9:49AM
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 Coldwell Banker Lingle
Investment Insights
Based on property information with market context.
This property features a high-traffic corner site, available on the open market for the first time since the 1950s. The approximately 0.39-acre corner site is located at a busy intersection in Richmond, with two stop lights on Chester Blvd. and North A Street/US 40 Corridor. A 2,900 square foot commercial building is situated on the lot. Located in Richmond's downtown area, the property is just minutes from I-70, Reid Health, and other high-traffic commercial businesses. This building and lot present a unique opportunity in Richmond. The current owner will relocate upon sale.
Key Highlights
- High‑traffic corner location at a busy intersection with two stop lights.
- +/- .39 acre corner site in Richmond's downtown area.
- 2,900 SF commercial building included on the property.
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
$25,088
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
5.03%
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%
$501,760
$501.8K
Cap Rate 7%
$358,400
$358.4K
Cap Rate 9%
$278,756
$278.8K
Market Conditions
NOI Build-Up for 2,859 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
$44.6K $15.60/SF
− Vacancy
−$4.5K −$1.56/SF
EGI
$40.1K $14.04/SF
− OpEx
−$15.1K −$5.27/SF
NOI
$25.1K $8.77/SF
Area
Wayne County, IN
Vacancy
10.00%
Lease Rate
$15.60 /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%
$501,760
Cap Rate 7%
$358,400
Cap Rate 9%
$278,756
Alternative Uses
Best Use
Mixed Use
$358.4K
$313.6K – $418.1K
NOI $25,088 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
Explore this area
Business Placement
Demographics for 47374, IN
45,304
Population
21,553
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
119.8 sq mi
ZIP Area
378
Density / Sq Mi
$52,566
Median Household Income
$34,168
Median Earnings
$816
Median Rent
$121,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime corner lot with commercial building in Richmond's downtown.
Where is this mixed-use property located?
The property is located at 900 S A St Richmond, IN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: High‑traffic corner location at a busy intersection with two stop lights.; +/- .39 acre corner site in Richmond's downtown area.; 2,900 SF commercial building included on the property.
