Listing Agency: Commercial Kentucky, Inc.

Listed By: Stephan Gray · License #KY 29130 Show Phone

Source: Kcrea.resimplifi

Added: Jul 15, 2023 Changed: Oct 25 Last Checked: Oct 28 at 4:47AM

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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 / Yr

$119,919

Cap Rate

9.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,398,380 $2.4M

Cap Rate 7%

$1,713,129 $1.7M

Cap Rate 9%

$1,332,433 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 29,936 SF

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 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. How Realmo checks its estimates

Property Analytics

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

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

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