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    Indianapolis Retail Auto Sales Lot Title is generated by Realmo AI

    911 Oliver Avenue, Indianapolis, IN 46221

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    Claim this Listing
    For Lease
    $3,000/Mo $72 SF/Yr (calc)

    Retail - Indianapolis, IN

    Type:Retail
    Property size:
    500 SF
    Lot size:
    0.13 Acres
    Added:
    Feb 15, 2026
    Days on Market:
    96
    Last Refresh:
    May 22 at 3:06 am

    Property Features for 911 Oliver Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    C-1 W/Auto Sales Variance
    Standard status
    Active
    APN
    491111193006000101
    Size
    500 SF
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Cooling system
    Multi Units, Wall Unit(s)

    Building Details

    Year built
    1950
    Architectural style
    Other

    We can help!

    Listing Contact
    Jumha Shatara

    Listing agent Jumha Shatara License #RB14046317

    Listing office Keller Williams Indy Metro NE River Rd Ste 200, Indianapolis, IN

    Listing date Feb 15, 2026

    MLS# 22084207 Listing URL

    Copyright © 2026 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.

    HighLights

    • Prime location in the Near West Side of Indianapolis.
    • Strategically located auto sales lot available for lease.
    • Right across from the Elanco development site and close to the Indy Eleven site.
    • Exceptional visibility and accessibility to potential customers.
    • Close to Indianapolis Central Business District.
    • Close to Indy Zoo (W Washington).

    Overview

    This strategically located auto sales lot is available for lease on the Near West Side of Indianapolis. The property is in the heart of the Elanco and upcoming Indy Eleven mixed-use development site, offering visibility and accessibility. The location is near the Indianapolis Central Business District, directly across from the Elanco Development Site, and close to the Indy Zoo (W Washington) and Indy Eleven Site. The property is zoned C-1 with an auto sales variance. The property size is 500 square feet and the lot size is 0.13 acres. The intended use is for auto sales.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    911 Oliver Ave ... Parking Lot & Garage

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop

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

    Similar Places Nearby

    • Airport Automotive — 4408 W Morris St, Indianapolis, IN 46241
    • J & S Complete Driveline Inc. — 4190 W Morris St, Indianapolis, IN 46241
    • Capital City Truck & Trailer — 4711 W Morris St, Indianapolis, IN 46241
    • TOWING SOLUTIONS AND RECOVERY LLC — 3908 W Morris St, Indianapolis, IN 46241
    • MAUSERVICE, LLC. — 4860 W Morris St, Indianapolis, IN 46241

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.175761
    Latitude
    39.758358

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    FAQs

    What type of property is this?
    Auto shop - Strategically located auto sales lot near Elanco development site.
    Where is this auto shop located?
    The property is located at 911 Oliver Avenue Indianapolis, IN.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Prime location in the Near West Side of Indianapolis.; Strategically located auto sales lot available for lease.; Right across from the Elanco development site and close to the Indy Eleven site.
    (317) 832-2800
    We can help!
    Listing Contact
    Jumha Shatara
    Real Estate License ID: RB14046317
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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