Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Versatile Retail/Office/Restaurant Space Available Title is generated by Realmo AI

    403 Erie Pass, Auburn, IN 46706

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    2,016 SF space suitable for office, restaurant, or retail.

    Type:Retail
    Property size:
    2,016 SF
    Added:
    Oct 2, 2023
    Days on Market:
    973
    Last Refresh:
    May 12 at 10:01 pm

    Property Features for 403 Erie Pass

    General Information

    Standard status
    Active
    Size
    2,016 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1996

    Spaces For Lease

    at 403 Erie Pass Contact us

    $22/Mo

    Size
    2,016 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Karl Behrens, CCIM, SIOR

    Listing agent Karl Behrens, CCIM, SIOR License #IN RB14027572

    Listing office BND Commercial Real Estate

    Listing date Oct 2, 2023

    Source Crexi

    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 BND Commercial Real Estate

    HighLights

    • Prime location directly across from Parkview DeKalb Hospital.
    • Versatile 2,016 square foot space suitable for office, restaurant, or retail use.
    • Drive‑up window with three lanes for convenient customer access.
    • Ample parking, including ADA‑designated spaces.
    • Abundant natural light throughout the building.
    • Includes private offices, a large conference room, and a secure vault.

    Overview

    This 2,016 square foot property is suitable for office, restaurant, or retail use. It is located across from Parkview DeKalb Hospital. The building features a drive-up window with three lanes and ample parking, including ADA-designated spaces. The interior includes private offices, a large conference room, a secure vault, and a spacious lobby area with abundant natural light.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    DeKalb
    State
    Indiana
    Longitude
    -85.035805
    Latitude
    41.37035

    Nearby Similar for Lease

    • $12 SF/Yr
      4,816 SF

      Retail/Warehouse Space Available For Rent

      4,816 SF suite with retail and warehouse space.
      253 N Grandstaff Dr, Auburn, IN 46706
      View Details
    • $8 SF/Yr
      4,816 SF

      Retail Space Near I-69

      Professionally managed retail space with ample parking and signage.
      1016 W Seventh St, Auburn, IN
      View Details
    • $25 SF/Yr
      1,488 SF

      New Retail Space in Auburn

      New construction retail space with high visibility and traffic.
      523 W 7th St, Auburn, IN
      View Details
    • $7 SF/Yr
      24,000 SF

      New Industrial Building Pre-Leasing

      New 24,000 SF industrial building available for lease.
      1687 W Auburn Dr, Auburn, IN
      View Details
    • $13 SF/Yr
      3,168 SF

      Retail Space Near I-69

      Retail space in well-trafficked corridor near I-69 and major retailers.
      1031-1077 Smaltz Way, Auburn, IN
      View Details
    • Contact for pricing
      115,974 SF

      115,974 SF Shopping Center

      115,974 square foot shopping center available for rent.
      346 North Grandstaff Drive | Auburn, IN 46706
      View Details
    • $14 SF/Yr
      15,000 SF

      Retail Space in Auburn, Indiana

      Retail property with high visibility and access to I-69.
      1030 W 7th St, Auburn, IN
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in Kroger Plaza

      Retail spaces available in Kroger anchored Auburn Plaza.
      1015-1047 W Seventh St, Auburn, IN
      View Details
    • $25 SF/Yr
      6,000 SF

      New Construction Retail Space Available

      New construction retail space with drive-thru in Auburn, Indiana.
      1570 Shook Dr, Auburn, IN
      View Details
    • Contact for pricing
      1,798 SF

      New Retail Space Available

      New construction retail space with customizable finishes and high traffic.
      1520 Shook Drive, Auburn, IN
      View Details
    • Contact for pricing
      1,140 SF

      Retail Space in Updated Center

      Retail space available in well-maintained shopping center near downtown.
      201-293 N Duesenberg Dr, Auburn, IN
      View Details
    • $7 SF/Yr
      5,000 SF

      Industrial Flex Space For Rent

      Clean, climate-controlled industrial flex space with flexible leasing options.
      1908 Wayne St, Auburn, IN
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,016 SF space suitable for office, restaurant, or retail.
    Where is this retail space located?
    The property is located at 403 Erie Pass Auburn, IN.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Prime location directly across from Parkview DeKalb Hospital.; Versatile 2,016 square foot space suitable for office, restaurant, or retail use.; Drive‑up window with three lanes for convenient customer access.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Karl Behrens, CCIM, SIOR
    Real Estate License ID: IN RB14027572
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    403 Erie Pass, Auburn, IN 46706
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!