Commercial Shopping
For Sale
$1,850,000
2915 N German Church Road, Indianapolis, IN 46229
Commercial Sale, Indianapolis, IN
Property Size12,000 SF
Lot Size3.48 Acres
Price / SF$154.17
Days on Market54
Property Features for 2915 N German Church Road
General Information
Property type
Residential
Property subtype
Retail
Zoning
DP
Elementary school district
MSD Warren Township
Middle school district
MSD Warren Township
High school district
MSD Warren Township
Directions
GPS Friendly
Subdivision
4905 - Marion - Warren
Standard status
Active
APN
490827129012000700
Lot size
3.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt Nw1/4 S27 T16 R5 Beg 370' E & 70' S & 218.50' S Of Nw Cor P.O.B. S501.50' W300' N501.50' E300' To Beg 3.5Ac
Legal Description
Pt Nw1/4 S27 T16 R5 Beg 370' E & 70' S & 218.50' S Of Nw Cor P.O.B. S501.50' W300' N501.50' E300' To Beg 3.5Ac
Building Details
Year built
2005
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Martha Hernandez · License #RB22001159
(812) 734-6048
Added: Aug 15
Changed: Aug 28
Last Checked: Oct 7 at 12:06PM
MLS# 22120712
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property was built in 2005 and sits on 3.48 acres at 2915 N German Church Road in Indianapolis. Its established retail-corridor setting and visible position support consideration for retail, service, restaurant, or other commercial applications, subject to DP zoning and applicable approvals.
The property is positioned within the Far Eastside trade area, surrounded by retail, dining, residential, and transportation amenities. Its location along N German Church Road provides convenient access to the surrounding commercial corridor. Showings are available by appointment.
The property is positioned within the Far Eastside trade area, surrounded by retail, dining, residential, and transportation amenities. Its location along N German Church Road provides convenient access to the surrounding commercial corridor. Showings are available by appointment.
Key Highlights
- 3.48‑acre commercial property
- DP zoning
- Built in 2005
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,850
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,997,000
$3.0M
Cap Rate 7%
$2,140,714
$2.1M
Cap Rate 9%
$1,665,000
$1.7M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$216.0K $18.00/SF
− Vacancy
−$16.2K −$1.35/SF
EGI
$199.8K $16.65/SF
− OpEx
−$50.0K −$4.16/SF
NOI
$149.9K $12.49/SF
Area
Indianapolis, IN
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,997,000
Cap Rate 7%
$2,140,714
Cap Rate 9%
$1,665,000
Alternative Uses
Best Use
Specialty Retail
$2.14M
$1.87M – $2.50M
NOI $149,850 @ 7.0% cap · market cap 8.10%
Second Best
Retail
$1.84M
$1.61M – $2.15M
NOI $129,125 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$2.99M
$2.61M – $3.48M
NOI $209,088 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46229, IN
29,252
Population
12,046
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
2,589
Density / Sq Mi
$62,982
Median Household Income
$40,407
Median Earnings
$1,020
Median Rent
$170,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Commercial property with corridor visibility and convenient access along N German Church Road.
Where is this shopping center located?
The property is located at 2915 N German Church Road Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 3.48‑acre commercial property; DP zoning; Built in 2005
