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Warehouse Facility Near I-70

406 Commerce Rd Richmond, IN 47374

406 Commerce Rd, Richmond, IN, 47374
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Warehouse near I-70 and US 40 in Richmond, Indiana.

Property Size5,820 SF
Price / SF$77.32
AddedMar 15, 2024
Days on Market853
Last RefreshMay 12 at 9:29 pm

Property Features for 406 Commerce Rd

General Information

Standard status
Active
Size
5,820 SF
Property subtype
Retail

Building Details

Year Built
1981

Listing office Coldwell Banker Lingle

Listing date Mar 15, 2024

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 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.

Local Financial Insights For Industrial

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $63.6k $10.92
− Vacancy −$6.9k −$1.19
EGI $56.6k $9.73
− OpEx −$17.0k −$2.92
NOI $39.6k $6.81
5,820 SF · lease $10.92/SF/yr · vacancy 10.90% · expense 30.00%

Alternative Uses

Best Use
Warehouse
$687.6K
$601.7K – $802.2K (±1% cap)
NOI $48,133 @ 7.0% cap · market cap 10.70%
Second Best
Industrial
$566.3K
$495.5K – $660.7K (±1% cap)
NOI $39,639 @ 7.0% cap · market cap 8.81%
Theoretical Best
Mixed Use
$729.6K
$638.4K – $851.2K (±1% cap)
NOI $51,071 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Georgia Direct Warehouse Warehouse & Storage

Suggested Use

Real Estate Agency Building Supply Law Firm Hair Salon Big Box & Wholesale Store Garden Center Locksmith Skin Care Clinic Carpet & Flooring Store Kitchen & Bath Showroom

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

Similar Off Market Nearby

  • Quaker City Storage — 220 Industrial Pkwy, Richmond, IN 47374
  • Ripp Records — 415 W Eaton Pike, 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

FAQs

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.
Contact an agent
(727) 771-8773 Call to check price and availability
More about this property
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