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Property profile & analytics
FOR LEASE
Warehouses
5040 Progress Way Sellersburg, IN 47172
Entity Owned
1-yr Hold
Free & Clear
Property ID
US31-3227093
For Lease
1 / 51
Contact for pricing
5040 Progress Way, Sellersburg, IN 47172
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Property summary
AI-generated overview
This exceptional investment opportunity presents a nearly new (2019 construction) 9950+ square foot, two-story building ideally situated within the Sellersburg Industrial Park. The property boasts a spacious office area, highlighted by a 630 square foot executive suite complete with a private bathroom. A substantial clear-span warehouse complements the office space, providing ample room for various operational needs. Zoned I-2 Heavy Industrial, this location offers unparalleled access to transportation networks, being adjacent to the Clark Regional Airport and a mere 1.5 miles from Interstate 65. The 3.67-acre lot includes a significant 14,000 square foot paved parking area, partially enclosed by a chain link fence. Currently utilized by a cargo and freight trucking company, this property presents a unique chance to acquire a move-in ready building, eliminating the time and expense of new construction. The property's versatile design and prime location make it suitable for a wide range of businesses. Auction details and terms are available online. Don't miss this rare opportunity!
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Construction
TYPE NOT SPECIFIED
Total area
7,500 SF
Lot
3.67 ac (159,691 SF)
APN
10-17-08-900-633.000-031
UPID
US31-3227093
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Neace Hospitality - New Albany LLC · 1 yrs held
Neace Hospitality - New Albany LLC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sellersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sellersburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,336
Tax year 2023
Assessed value
$778,700
Assessed 2023
Previous assessed
$778,700
+0.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$201,600
Assessed improvement
$577,100
Land market value
$201,600
Improvement market value
$577,100
Total market value
$778,700
Applied tax rate
17.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2019
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
7,500 SF
Lot
3.67 ac (159,691 SF)
APN
10-17-08-900-633.000-031
UPID
US31-3227093
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2019
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
3.67 ac
Current owner
From public records · entity-resolved
Neace Hospitality - New Albany LLC
Entity
Free & Clear · 1 yrs held
Mailing address
5040 PROGRESS WAY STE #205, SELLERSBURG, IN 47172-2020
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2024
—
Neace Hospitality - New Albany LLC
Brooks Larry D Est
Personal Representative Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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