Downtown Indianapolis Commercial
For Sale
Contact for pricing
Pending
1058 S Ewing St, Indianapolis, IN 46203
1.13-acre site with building, garage, and parking.
Property Size2,400 SF
Lot Size1.13 Acres
Days on Market230
Property Features for 1058 S Ewing St
General Information
Standard status
Pending
Size
2,400 SF
Class
C
Lot size
1.13 Acres
Property subtype
Industrial
Zoning
D-5
Building Details
Year Built
1962
Buildings
1
Stories
1
Units
1
Listing Agency:
KW Commercial / Keller Williams Indy Metro NE
Listed By:
Sharon Thompson · License #IN #RB14044406
(317) 607-0884
Source:
Crexi
Added: Feb 26
Changed: Aug 28
Last Checked: Aug 14 at 7:24AM
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 KW Commercial / Keller Williams Indy Metro NE
Investment Insights
Based on property information with market context.
This commercial and industrial property is located in downtown Indianapolis' near southeast side. The 1.13-acre (49,267 SF) site includes a 2,400 SF single-story commercial building that features a drive-in door, a reception/office area, an updated full restroom with shower, and a shop half bathroom. A separate two-car garage with 572 square feet is located in the back, along with over 3,000 square feet of paved parking. The property is currently zoned D-5 or C-7 in Marion County Browser, with a comprehensive plan indicating potential for rezoning to Light Industrial. This property supports a variety of commercial, contractor, storage, and light industrial uses. Ample yard space, strong flexibility, and convenient access to downtown and major corridors make this a compelling value-add opportunity. It is suitable as an owner occupant offering or an expansion parcel for nearby businesses. Citizens is currently working on water services in this area and on this site. Zoning confirmation is needed for intended use.
Key Highlights
- 1.13‑acre (49,267 SF) site in downtown Indianapolis' near southeast side.
- Zoned D‑5 or C‑7 with comprehensive plan potential for rezoning to Light Industrial.
- 2,400 SF single‑story commercial building with drive‑in door, reception/office area, and updated restrooms.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,587
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,740
$471.7K
Cap Rate 7%
$336,957
$337.0K
Cap Rate 9%
$262,078
$262.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$40.3K $16.80/SF
− Vacancy
−$4.0K −$1.68/SF
EGI
$36.3K $15.12/SF
− OpEx
−$12.7K −$5.29/SF
NOI
$23.6K $9.83/SF
Area
Indianapolis, IN
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,740
Cap Rate 7%
$336,957
Cap Rate 9%
$262,078
Alternative Uses
Best Use
Flex RnD
$337.0K
$294.8K – $393.1K
NOI $23,587 @ 7.0% cap · market cap 8.58%
Second Best
Industrial
$170.9K
$149.6K – $199.4K
NOI $11,964 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$597.4K
$522.7K – $697.0K
NOI $41,818 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
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Similar Off Market Nearby
- Terri's Corner Kitchen — 2805 E Michigan St, Indianapolis, IN 46201
- Samora Red Catering LLC. — 4604 E 10th St, Indianapolis, IN 46201
Frequently Asked Questions
What type of property is this?
Flex space - 1.13-acre site with building, garage, and parking.
Where is this flex space located?
The property is located at 1058 S Ewing St Indianapolis, IN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1.13‑acre (49,267 SF) site in downtown Indianapolis' near southeast side.; Zoned D‑5 or C‑7 with comprehensive plan potential for rezoning to Light Industrial.; 2,400 SF single‑story commercial building with drive‑in door, reception/office area, and updated restrooms.**
