Retail Storefront
For Sale
$1,200,000
1043 N Girls School Rd, Indianapolis, IN 46214
Established retail setup with on-site parking and a prominent commercial storefront presence.
Property Size5,400 SF
Price / SF$222.22
Days on Market15
Property Features for 1043 N Girls School Rd
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Commercial
Listing Agency:
Highgarden Real Estate
Listed By:
Chukwudi Ikechukwu ()
(317) 515-3463
Source:
Fortwayneareahomesforsale
Added: Sep 12
Changed: Sep 21
Last Checked: Sep 24 at 11:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Highgarden Real Estate
Investment Insights
Based on property information with market context.
This 5,400-square-foot storefront property at 1043 N Girls School Rd in Indianapolis offers an established retail setup and on-site parking. The commercial building is configured for retail-oriented occupancy and is presented as suitable for a grocery market, restaurant, retail store, or another business use.
Key Highlights
- 5,400 square feet of commercial storefront space
- Established retail setup
- On‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,433
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,348,660
$1.3M
Cap Rate 7%
$963,329
$963.3K
Cap Rate 9%
$749,256
$749.3K
Market Conditions
NOI Build-Up for 5,400 SF
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.
Gross rent
$97.2K $18.00/SF
− Vacancy
−$7.3K −$1.35/SF
EGI
$89.9K $16.65/SF
− OpEx
−$22.5K −$4.16/SF
NOI
$67.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,348,660
Cap Rate 7%
$963,329
Cap Rate 9%
$749,256
Alternative Uses
Best Use
Specialty Retail
$963.3K
$842.9K – $1.12M
NOI $67,433 @ 7.0% cap · market cap 5.62%
Second Best
Retail
$830.1K
$726.3K – $968.4K
NOI $58,106 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,090 @ 7.0% cap · market cap 7.84%
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
282
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46214, IN
26,314
Population
11,228
Households
2.3
Avg Household Size
35
Median Age
27%
College-Educated
91%
High-School Grad
7.5 sq mi
ZIP Area
3,509
Density / Sq Mi
$58,863
Median Household Income
$40,688
Median Earnings
$1,116
Median Rent
$180,200
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
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Similar Off Market Nearby
- Petal Pushers — 1033 n girls school rd, indianapolis, in 46214
Frequently Asked Questions
What type of property is this?
Storefront property - Established retail setup with on-site parking and a prominent commercial storefront presence.
Where is this storefront property located?
The property is located at 1043 N Girls School Rd Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,400 square feet of commercial storefront space; Established retail setup; On‑site parking
