Listing Agency: F.C. Tucker Company

Listed By: Sarah Fishburn · License #RB19001567 Show Phone

Source: Megandusing

Added: Mar 27 Changed: Sep 14 Last Checked: Oct 4 at 2:11PM

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Investment Insights

Based on property information with market context.

This commercially zoned property, currently operating as a successful Airbnb, is located minutes from downtown. The updated two-bedroom, two-bath space features a flexible layout with a spacious loft and an expansive upper deck that offers city views. The interior has been renovated with modern finishes, including open-concept living areas, updated kitchen and baths, and abundant natural light. The large loft provides additional sleeping or lounge space. The private upper-level deck is suitable for entertaining or relaxing while enjoying skyline views. The property is located near downtown with walkability to restaurants, breweries, coffee shops, and entertainment. It also offers easy access to major highways, cultural districts, and local attractions. This property is suitable for investors seeking income potential, entrepreneurs wanting a live/work concept, or buyers looking for a commercial space in a prime urban location.

Key Highlights

• Active & Successful Short‑Term Rental: Immediate income potential.
• Prime Downtown Location: Walk to restaurants, breweries, coffee shops, and entertainment.
• Stunning City Views: Enjoy panoramic skyline views from the expansive upper deck.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,138

Cap Rate

3.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$242,760 $242.8K

Cap Rate 7%

$173,400 $173.4K

Cap Rate 9%

$134,867 $134.9K

Market Conditions

NOI Build-Up for 1,128 SF

Gross rent

$19.0K $16.80/SF

− Vacancy

−$1.6K −$1.43/SF

EGI

$17.3K $15.37/SF

− OpEx

−$5.2K −$4.61/SF

NOI

$12.1K $10.76/SF

Area

Indianapolis, IN

Vacancy

8.50%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$242,760

Cap Rate 7%

$173,400

Cap Rate 9%

$134,867

Alternative Uses

Best Use

Retail

$173.4K

$151.7K – $202.3K (±1% cap)

NOI $12,138 @ 7.0% cap · market cap 3.52%

Second Best

Apartment 5plus

$147.9K

$129.4K – $172.5K (±1% cap)

NOI $10,352 @ 7.0% cap · market cap 3.00%

Theoretical Best

Office A

$280.8K

$245.7K – $327.6K (±1% cap)

NOI $19,654 @ 7.0% cap · market cap 5.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Pharmacy Storage Facility HVAC Service (Bike/Boat/Book/etc) Store Locksmith Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,196

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46225, IN

6,503

Population

3,056

Households

2.1

Avg Household Size

35

Median Age

29%

College-Educated

81%

High-School Grad

4.0 sq mi

ZIP Area

1,626

Density / Sq Mi

$47,917

Median Household Income

$36,132

Median Earnings

$1,104

Median Rent

$123,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercially zoned property operating as a successful Airbnb near downtown.

Where is this storefront property located?

The property is located at 1041 S East St Indianapolis, IN.

What is the asking price?

The asking price for this property is $345,000.

What are key features of this property?

This property features: Active & Successful Short‑Term Rental: Immediate income potential.; Prime Downtown Location: Walk to restaurants, breweries, coffee shops, and entertainment.; Stunning City Views: Enjoy panoramic skyline views from the expansive upper deck.