Industrial Distribution
For Sale
$9,854,000
927 N Emerson Ave, Greenwood, IN 46143
Large-format industrial facility on 17.95 acres, suited for warehousing and distribution operations.
Property Size125,000 SF
Lot Size17.95 Acres
Price / SF$78.83
Days on Market97
Property Features for 927 N Emerson Ave
General Information
Standard status
Active
Size
125,000 SF
Lot size
17.95 Acres
Property subtype
Commercial
Occupancy
100%
Lease Term
± 5 Years
Net Operating Income
$675,000
Building Details
Building Size
125,000 SF
Year Built
2016
Listing Agency:
Matthews Real Estate Investment Services
Listed By:
Alexander Harrold · License #02009656 (CA)
(310) 919-5790
Source:
Matthews
Added: Jun 3
Changed: Sep 5
Last Checked: Sep 7 at 4:35AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This offering is a distribution-center style industrial property with 125,000 square feet of space and sits on 17.95 acres. The listing is presented for sale and is associated with Goodwill Industries. The combination of a substantial building footprint and expansive site area supports a range of warehouse and distribution-focused uses.
The property is located at 927 North Emerson Avenue in Greenwood, Indiana. It is offered in a single asset configuration suitable for buyers evaluating an industrial footprint with both building area and outdoor acreage.
For operators and investors looking for industrial space, this property may fit teams that need warehousing capacity within a distribution-oriented envelope and benefit from a larger site for day-to-day logistics. Buyers should confirm the property’s intended use, operating requirements, and any tenant or occupancy considerations directly with the seller during diligence.
The property is located at 927 North Emerson Avenue in Greenwood, Indiana. It is offered in a single asset configuration suitable for buyers evaluating an industrial footprint with both building area and outdoor acreage.
For operators and investors looking for industrial space, this property may fit teams that need warehousing capacity within a distribution-oriented envelope and benefit from a larger site for day-to-day logistics. Buyers should confirm the property’s intended use, operating requirements, and any tenant or occupancy considerations directly with the seller during diligence.
Key Highlights
- Built in 2016
- 125,000 sq. ft. large‑format industrial facility
- 17.95 acres total land area
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
$678,524
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
6.89%
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%
$13,570,480
$13.6M
Cap Rate 7%
$9,693,200
$9.7M
Cap Rate 9%
$7,539,156
$7.5M
Market Conditions
NOI Build-Up for 125,000 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
$876.3K $7.01/SF
− Vacancy
−$78.0K −$0.62/SF
EGI
$798.3K $6.39/SF
− OpEx
−$119.7K −$0.96/SF
NOI
$678.5K $5.43/SF
Area
Johnson County, IN
Vacancy
8.90%
Lease Rate
$7.01 /SF/Yr
Expense Ratio
15.00%
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%
$13,570,480
Cap Rate 7%
$9,693,200
Cap Rate 9%
$7,539,156
Alternative Uses
Best Use
Warehouse
$9.69M
$8.48M – $11.31M
NOI $678,524 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.50M
$27.56M – $36.75M
NOI $2,205,000 @ 7.0% cap · market cap 22.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46143, IN
62,618
Population
23,417
Households
2.7
Avg Household Size
36
Median Age
36%
College-Educated
93%
High-School Grad
49.4 sq mi
ZIP Area
1,268
Density / Sq Mi
$89,401
Median Household Income
$51,213
Median Earnings
$1,427
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Greenwood Self Storage — 197 N Emerson Ave, Greenwood, IN 46143
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- RISE Commercial District — 545 Christy Dr, Greenwood, IN 46143
- Red Cheetah Moving — 545 christy dr #17, greenwood, in 46143
- RISE Commercial District - RISE Pro — 1240 Airport Pkwy, Greenwood, IN 46143
Frequently Asked Questions
What type of property is this?
Warehouse - Large-format industrial facility on 17.95 acres, suited for warehousing and distribution operations.
Where is this warehouse located?
The property is located at 927 N Emerson Ave Greenwood, IN.
What is the asking price?
The asking price for this property is $9,854,000.
What are key features of this property?
This property features: Built in 2016; 125,000 sq. ft. large‑format industrial facility; 17.95 acres total land area
