221 Raymond St 24,000 SF Industrial Building Hope, IN 47246 $2,700,000 ($112.50/SF) 7.07% Cap Rate

RDC Commercial Real Estate is pleased to present 221 Raymond Street, a 24,000-square-foot industrial flex facility located within the established Hope Industrial Park in Hope, Indiana. This well-maintained single-tenant asset offers investors, owner-users, and industrial occupiers a rare opportunity to acquire a functional manufacturing and warehouse facility with immediate income and long-term upside. The property is currently occupied by Micronics/Cleanova Group, a globally recognized engineered filtration manufacturer, providing stable tenancy and operational credibility.
Constructed in phases between 1998 and 2005, the facility features approximately 22,676 SF of warehouse and production space, 16-foot clear heights, 3-phase power, two dock-high doors, four grade-level doors, and a flexible layout designed to support manufacturing, warehousing, assembly, and distribution operations. The building sits on approximately 5.98 acres, offering excess land for future expansion, outdoor storage, or additional development. One exterior wall was intentionally engineered to facilitate future building expansion, creating a unique opportunity for growth.
For investors, the offering provides a 7.0% cap rate supported by an NOI of $191,128 and an established industrial tenant. For owner-users, the property's versatile design, modern infrastructure, and expandable site position it as an attractive long-term operational facility. Located just minutes from Columbus, Indiana, the property benefits from excellent access to regional transportation corridors, a skilled manufacturing workforce, and the economic advantages of Southern Indiana's growing industrial market.
221 Raymond Street is strategically located within Hope Industrial Park, one of the region's established industrial business parks, just south of Columbus, Indiana. The property provides convenient access to major transportation routes serving Indianapolis, Louisville, Cincinnati, and the broader Midwest distribution network. The location offers a strong labor pool supported by the Columbus metropolitan area, known nationally for advanced manufacturing, engineering, and industrial employment.
Hope combines a business-friendly environment, competitive operating costs, and workforce stability with proximity to major industrial employers throughout Bartholomew County. The area's affordable cost of living and established manufacturing base continue to attract industrial users seeking efficient operations and long-term workforce retention.