Freestanding Industrial
115 North 2nd Avenue Beech Grove, IN 46107
For Sale
$1,100,000
Freestanding industrial building with climate-controlled warehouse space, office buildout, and C7 zoning permitting outdoor storage.
Property Size12,000 SF
Price / SF$91.67
Days on Market71
Property Features for 115 North 2nd Avenue
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Industrial
Listing Agency:
SVN⎮Northern Commercial
(317) 863-9271
Listed By:
Wade Wilson · License #IN #RB20000720
(317) 863-9271
Source:
Svn
Added: May 14
Changed: Jul 23
Last Checked: Jul 23 at 3:58AM
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 SVN⎮Northern Commercial
Investment Insights
Based on property information with market context.
This freestanding industrial building includes a fully climate-controlled warehouse with flexible layout and two separate warehouse bays. The property also features an ample office buildout with six offices, a breakroom, and three bathrooms. For industrial operations, it offers heavy 3-phase power rated at 400 amps.
The property is zoned C7, which permits outdoor storage. The site includes on-site parking for approximately 24 vehicles and has received recent capital improvements, including a new roof in 2021, HVAC-related equipment in 2024, and a parking lot upgrade in 2025.
Access is supported by connectivity to I-465, I-65, and downtown Indianapolis.
The property is zoned C7, which permits outdoor storage. The site includes on-site parking for approximately 24 vehicles and has received recent capital improvements, including a new roof in 2021, HVAC-related equipment in 2024, and a parking lot upgrade in 2025.
Access is supported by connectivity to I-465, I-65, and downtown Indianapolis.
Key Highlights
- +/- 12,000 SF freestanding industrial building with fully climate‑controlled warehouse space
- C7 zoning permits outdoor storage, with heavy 3‑phase 400‑amp power for industrial use
- Recent capital improvements include new roof (2021), HVAC/furnace (2024), and parking lot (2025)
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 | $108.0k | $9.00 |
| − Vacancy | −$9.7k | −$0.81 |
| EGI | $98.3k | $8.19 |
| − OpEx | −$14.7k | −$1.23 |
| NOI | $83.5k | $6.96 |
12,000 SF · lease $9.00/SF/yr · vacancy 9.00% · expense 15.00%
Alternative Uses
Best Use
Office B
$2.26M
$1.97M – $2.63M
NOI $157,989 @ 7.0% cap · market cap 14.36%
Second Best
Warehouse
$1.19M
$1.04M – $1.39M
NOI $83,538 @ 7.0% cap · market cap 7.59%
Theoretical Best
Specialty Retail
$3.07M
$2.68M – $3.58M
NOI $214,756 @ 7.0% cap · market cap 19.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
AADCO Inc.
Security Service
Similar Off Market Nearby
- Nick's Packing And Storage — 517 Main St, Beech Grove, IN 46107
- SecurCare Self Storage — 4005 S Emerson Ave, Indianapolis, IN 46203
FAQs
What type of property is this?
Warehouse - Freestanding industrial building with climate-controlled warehouse space, office buildout, and C7 zoning permitting outdoor storage.
Where is this warehouse located?
The property is located at 115 North 2nd Avenue Beech Grove, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: +/- 12,000 SF freestanding industrial building with fully climate‑controlled warehouse space; C7 zoning permits outdoor storage, with heavy 3‑phase 400‑amp power for industrial use; Recent capital improvements include new roof (2021), HVAC/furnace (2024), and parking lot (2025)
