1028 Vandeman Street, Indianapolis, IN 46203
COMMERCIAL - Indianapolis, IN
- Added:
- Nov 18, 2025
- Days on Market:
- 206
- Last Refresh:
- Jun 12 at 8:06 am
Property Features for 1028 Vandeman Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- I4
- Standard status
- Active
- APN
- 491008100004000101
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Vandemans Prospect St Add L4
Utilities
- Utilities
- Natural Gas Available
Building Details
- Year built
- 1920
- Number of units
- 6
Listing agent Marcia Souers License #RB14034797 (812) 734-6048
Listing office eXp Realty, LLC Counselors Row Ste 200 9465, IN (888) 611-3912
Listing date Nov 18, 2025
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
- Building includes 1,320 SF of ground‑floor space plus 300+ SF of utility area on the second level
- Quonset setup with two large overhead doors and one smaller overhead door, suitable for storage or a workshop
- Utilities: natural gas available
- Package sale includes 3324 Prospect St and 1028 Vandeman St totaling 0.2 acres
- Marion County zoning allows numerous potential uses per the Marion County Zoning Ordinance
- Located just minutes from the interstate and central Indianapolis area
Overview
The sale is for both 3324 Prospect St and 1028 Vandeman St, totaling 0.2 acres of land. The location is noted as just minutes from the interstate and the central Indianapolis area.
With zoning designated as I4 and the remarks indicating multiple potential uses permitted by the Marion County Zoning Ordinance, the building may fit a range of small-scale industrial and service-oriented operations that need direct overhead door access and additional utility space. The offering is structured as a package, so buyers should review both parcels as part of their intended use.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.6k | $7.80 |
| − Vacancy | −$1.1k | −$0.68 |
| EGI | $11.5k | $7.12 |
| − OpEx | −$1.7k | −$1.07 |
| NOI | $9.8k | $6.05 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- ADM Beech Grove — 1901 S Sherman Dr, Indianapolis, IN 46203
- self storage place — Indianapolis, IN 46203
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.1098233
- Latitude
- 39.7528692