Warehouse Facility Near
For Sale
Contact for pricing
406 Commerce Rd, Richmond, IN 47374
Warehouse near I-70 and US 40 in Richmond, Indiana.
Property Size5,820 SF
Price / SF$77.32
Days on Market898
Property Features for 406 Commerce Rd
General Information
Standard status
Active
Size
5,820 SF
Property subtype
Retail
Lease Type
NNN
Building Details
Year Built
1981
Buildings
1
Stories
1
Units
1
Listing Agency:
Coldwell Banker Lingle
(727) 771-8773
Listed By:
Alan Stamper · License #IN RB16001438
Source:
Crexi
Added: Mar 15, 2024
Changed: Aug 26
Last Checked: Aug 24 at 7:34AM
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 warehouse facility, encompassing 5,820 square feet, features a generously sized door. It is located moments away from I-70 and US 40 in Richmond, Indiana. The property offers opportunities for utilization. The adjacent property is also available for a custom-built option, with existing structures able to be cleared. This location is situated on Richmond's East Side.
Key Highlights
- Prime location on Richmond's East Side near I‑70 and US 40.
- Generously sized door for warehouse access.
- Abundant opportunities for imaginative utilization.
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
$39,639
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
8.81%
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%
$792,780
$792.8K
Cap Rate 7%
$566,271
$566.3K
Cap Rate 9%
$440,433
$440.4K
Market Conditions
NOI Build-Up for 5,820 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
$63.6K $10.92/SF
− Vacancy
−$6.9K −$1.19/SF
EGI
$56.6K $9.73/SF
− OpEx
−$17.0K −$2.92/SF
NOI
$39.6K $6.81/SF
Area
Wayne County, IN
Vacancy
10.90%
Lease Rate
$10.92 /SF/Yr
Expense Ratio
30.00%
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%
$792,780
Cap Rate 7%
$566,271
Cap Rate 9%
$440,433
Alternative Uses
Best Use
Warehouse
$687.6K
$601.7K – $802.2K
NOI $48,133 @ 7.0% cap · market cap 10.70%
Second Best
Industrial
$566.3K
$495.5K – $660.7K
NOI $39,639 @ 7.0% cap · market cap 8.81%
Theoretical Best
Mixed Use
$729.6K
$638.4K – $851.2K
NOI $51,071 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Ripp Records — 415 W Eaton Pike, Richmond, IN 47374
- Quaker City Storage — 220 Industrial Pkwy, Richmond, IN 47374
- Self-Storage at U-Haul — 5900 National Rd E, Richmond, IN 47374
- Stronghold Self-Storage - Richmond — 535 Commerce Rd, Richmond, IN 47374
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse near I-70 and US 40 in Richmond, Indiana.
Where is this warehouse located?
The property is located at 406 Commerce Rd Richmond, 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: Prime location on Richmond's East Side near I‑70 and US 40.; Generously sized door for warehouse access.; Abundant opportunities for imaginative utilization.
