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    2121 Hillside Ave Indianapolis, IN 46218

    For Sale
    $3,900,000

    Industrial - Indianapolis, IN

    Type:Industrial
    Property size:
    43,000 SF
    Lot size:
    5.50 Acres
    Days on Market:
    159
    Last Refresh:
    Dec 15 at 4:06 am

    Property Features for 2121 Hillside Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Industrial
    Standard status
    Active
    Zoning
    I3
    APN
    490731188243000101
    Parking features
    Garage
    Exterior features
    Fencing
    Fencing
    Fenced
    Size
    43,000 SF
    Lot size
    5.50 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1973
    Roof type
    Rubber
    Architectural style
    Other

    SGA Enterprises, Inc (317) 255-7285 [email protected]

    Listing agent Randall Reichmann (317) 216-8800 License #RB17001517

    Listing date Jul 10, 2025

    MLS# 21984523 Listing URL

    Copyright © 2025 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Indianapolis Industrial Investment Opportunity

    This industrial property, located close to downtown Indianapolis, features a 40,000 sq ft building on 5.5 acres. The property is currently leased to a financially strong manufacturing company with a 5-year lease and a 5-year extension option. The base rent is $20,833 per month, with a 3% increase each year. The tenant is responsible for insurance, while the landlord is responsible for the roof and taxes. The site is completely fenced with chainlink. The property includes over 1200 sq ft of heated and cooled office space with separate bathrooms. Originally used as an industrial dry-cleaning facility from the 1960s until 2003, the property was classified as a "Brownfield Site" and maintains a Sub-Slab Depressurization system. On July 24, 2020, IDEM indicated all corrective action was complete. The property has been meticulously maintained.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Terrecorp, A Cooper Machinery ... Bearing Supplier

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.127113
    Latitude
    39.79617

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    FAQs

    What type of property is this?
    Manufacturing property - 40,000 SF building on 5.5 acres with long-term tenant.
    Where is this manufacturing property located?
    The property is located at 2121 Hillside Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: - Strong tenant with a 5-year lease and a 5-year extension option.; - **High-income investment property** with $20,833/month base rent and 3% annual increases.; - Large 40,000 sq ft building on 5.5 acres near downtown Indianapolis.
    (317) 216-8800
    Request Owner's contact information
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    Indianapolis, IN 46218
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2121 Hillside Ave Indianapolis, IN 46218
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