Building Details

Building Size 2,400 SF

Year Renovated 2024

Buildings 2

Listing Agency: Batts Real Estate Group

Listed By: Lisa Batts Show Phone

Source: Battsrealestategroup

Added: Sep 23 Changed: Oct 22 Last Checked: Oct 22 at 2:17PM

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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 Batts Real Estate Group

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Investment Insights

Based on property information with market context.

This 2,400-square-foot workshop is configured for big and heavy truck repair and is zoned Agriculture. Renovations completed approximately 2 years ago added LED lighting, 2-inch spray-foam ceiling insulation, a 5-inch concrete floor, a bathroom, a wood stove, Wi-Fi, a water softener, and a water heater. The property also includes a large air compressor, a waste oil furnace that has not been connected, and an additional barn.

Gravel parking provides space around the property, and the site is 2 miles from I-70. The workshop is accessible to vehicle types ranging from passenger cars to heavy trucks.

Key Highlights

• 2,400‑square‑foot workshop used for big and heavy truck repair
• Renovated approximately 2 years ago
• LED lighting, 2‑inch spray‑foam ceiling insulation, and 5‑inch concrete floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,228

Cap Rate

5.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$284,560 $284.6K

Cap Rate 7%

$203,257 $203.3K

Cap Rate 9%

$158,089 $158.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$21.6K $9.00/SF

− Vacancy

−$1.3K −$0.53/SF

EGI

$20.3K $8.47/SF

− OpEx

−$6.1K −$2.54/SF

NOI

$14.2K $5.93/SF

Area

Hendricks County, IN

Vacancy

5.90%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$284,560

Cap Rate 7%

$203,257

Cap Rate 9%

$158,089

Alternative Uses

Best Use

Retail

$413.0K

$361.4K – $481.8K (±1% cap)

NOI $28,909 @ 7.0% cap · market cap 11.56%

Second Best

Industrial

$203.3K

$177.9K – $237.1K (±1% cap)

NOI $14,228 @ 7.0% cap · market cap 5.69%

Theoretical Best

Office A

$602.5K

$527.2K – $702.9K (±1% cap)

NOI $42,172 @ 7.0% cap · market cap 16.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 46180, IN

993

Population

465

Households

2.1

Avg Household Size

47

Median Age

21%

College-Educated

89%

High-School Grad

25.1 sq mi

ZIP Area

40

Density / Sq Mi

$79,886

Median Household Income

$44,306

Median Earnings

$788

Median Rent

$173,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Auto shop - Renovated service space includes a bathroom, insulated ceiling, and concrete floor for heavy-vehicle repair operations.

Where is this auto shop located?

The property is located at 9317 W S State Road 42 Road Stilesville, IN.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: 2,400‑square‑foot workshop used for big and heavy truck repair; Renovated approximately 2 years ago; LED lighting, 2‑inch spray‑foam ceiling insulation, and 5‑inch concrete floor