Listing Agency: Commercial Kentucky, Inc.

Listed By: Stephan Gray · License #29130 Show Phone

Source: Kcrea.resimplifi

Added: Jul 15, 2023 Changed: Sep 8 Last Checked: Sep 12 at 4:05AM

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Investment Insights

Based on property information with market context.

The property features a building offering approximately 29,936 square feet on a 13.3-acre lot. Additionally, there is a three-sided steel frame metal-sided building located on the site.

Key Highlights

• 29,936 +/- sf building
• 13.3 acre lot
• 3‑sided steel frame metal sided building on site

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

$119,919

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

9.03%

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%

$2,398,380 $2.4M

Cap Rate 7%

$1,713,129 $1.7M

Cap Rate 9%

$1,332,433 $1.3M

Market Conditions

NOI Build-Up for 29,936 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

$184.4K $6.16/SF

− Vacancy

−$13.1K −$0.44/SF

EGI

$171.3K $5.72/SF

− OpEx

−$51.4K −$1.72/SF

NOI

$119.9K $4.01/SF

Area

Clark County, IN

Vacancy

7.10%

Lease Rate

$6.16 /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%

$2,398,380

Cap Rate 7%

$1,713,129

Cap Rate 9%

$1,332,433

Alternative Uses

Best Use

Warehouse

$2.08M

$1.82M – $2.43M (±1% cap)

NOI $145,616 @ 7.0% cap · market cap 10.97%

Second Best

Industrial

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,919 @ 7.0% cap · market cap 9.03%

Theoretical Best

Office A

$8.70M

$7.62M – $10.15M (±1% cap)

NOI $609,257 @ 7.0% cap · market cap 45.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Warehouses

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 47147, IN

1,022

Population

580

Households

1.8

Avg Household Size

41

Median Age

6%

College-Educated

91%

High-School Grad

32.5 sq mi

ZIP Area

31

Density / Sq Mi

$84,318

Median Household Income

$42,316

Median Earnings

$1,424

Median Rent

$227,500

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Warehouse - 29,936 +/- SF industrial building on 13.3 acres.

Where is this warehouse located?

The property is located at 9722 Barker Drive Nabb, IN.

What is the asking price?

The asking price for this property is $1,328,000.

What are key features of this property?

This property features: 29,936 +/- sf building; 13.3 acre lot; 3‑sided steel frame metal sided building on site