Freestanding Industrial
For Sale
$1,100,000
115 North 2nd Avenue, Beech Grove, IN 46107
Freestanding industrial building with climate-controlled warehouse space, office buildout, and C7 zoning permitting outdoor storage.
Property Size11,754 SF
Price / SF$91.67
Days on Market163
Property Features for 115 North 2nd Avenue
General Information
Standard status
Active
Size
11,754 SF
Total Parking Spaces
24
Property subtype
Industrial
Zoning
C7
Additional Details
Highway Access
Yes
Heavy Power
Yes
Building Details
Building Size
11,754 SF
Listing Agency:
SVN | Northern Commercial
Listed By:
Wade Wilson · License #IN #RB20000720
(317) 863-9271
Source:
Svn
Added: May 14
Changed: Oct 5
Last Checked: Oct 23 at 3:38AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$83,538
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,670,760
$1.7M
Cap Rate 7%
$1,193,400
$1.2M
Cap Rate 9%
$928,200
$928.2K
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$108.0K $9.00/SF
− Vacancy
−$9.7K −$0.81/SF
EGI
$98.3K $8.19/SF
− OpEx
−$14.7K −$1.23/SF
NOI
$83.5K $6.96/SF
Area
Marion County, IN
Vacancy
9.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,670,760
Cap Rate 7%
$1,193,400
Cap Rate 9%
$928,200
Alternative Uses
Best Use
Warehouse
$1.19M
$1.04M – $1.39M
NOI $83,538 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46107, IN
12,994
Population
5,755
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
3,938
Density / Sq Mi
$57,377
Median Household Income
$42,155
Median Earnings
$1,051
Median Rent
$166,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- SecurCare Self Storage — 4005 S Emerson Ave, Indianapolis, IN 46203
- Nick's Packing And Storage — 517 Main St, Beech Grove, IN 46107
Frequently Asked Questions
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)
