6301 400N Greenfield, IN 46140
- Industrial properties
- 10,000 SF
- 2.01 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 6301 400N
- Year built
- 1990
- Lot size
- 2.01 lot acres
- Property size
- 10,000 SF
- Property type
- Industrial properties
- Property subtype
- Flex space
Description
This fee-simple, single-tenant industrial flex building in Greenfield, Indiana presents a compelling investment opportunity. Located at 6301 W 400N, 46140, this 10,000-square-foot Class B property boasts a 100% occupancy rate with a strong, stabilized tenant under a NNN lease. The lease commenced July 1, 2022, and has a remaining term of 4.9 years, expiring September 30, 2029, with built-in 4% annual rent bumps. The building, constructed in 1990 and fully renovated in 2022, sits on a 2.01-acre lot zoned IBP (Industrial Business Park). One acre of the site is available for future expansion, potentially accommodating an additional 8,000-10,000 square feet of building space. The property features a 10-foot ceiling height and offers a current Net Operating Income (NOI) of $72,578, resulting in an attractive 7.02% cap rate. The asking price is $1,034,500, translating to $103.45 per square foot. This investment offers a blend of immediate cash flow and significant long-term potential for growth. The low vacancy rate for flex industrial space in the Hancock County submarket further underscores the property's value and stability. Lease options include a 1-5 year extension.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Greenfield
- County
- Hancock
- State
- Indiana
- Longitude
- -85.9214
- Latitude
- 39.8416
