Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Fully Occupied Strip Center For Sale Title is generated by Realmo AI

    11594 Whistle Dr, Fishers, IN 46037

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    29,984 SF strip center with a 9.6 year WALT.

    Type:Retail
    Property size:
    29,984 SF
    Added:
    Dec 5, 2025
    Days on Market:
    158
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 11594 Whistle Dr

    General Information

    Standard status
    Active
    Size
    29,984 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Michael Nieder

    Listing agent Michael Nieder License #IL475.189942

    Listing office JLL Chicago | North Riverside Plaza

    Listing date Dec 5, 2025

    Source Crexi

    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 JLL Chicago | North Riverside Plaza

    HighLights

    • Newly constructed (2024), fully occupied 29,984 SF strip center in Fishers, IN.
    • Robust Year 1 NOI of +\/-$1,080,000 and a WALT of 9.6 years, indicating stable cash flow.
    • Located in a rapidly growing trade area with a population projected to reach 135,000 by 2040.
    • Strategic location at 116th and I‑69 with high visibility and accessibility.
    • Low retail vacancy rate of 1.3% in the area.
    • ABR exceeding $30/PSF across a diverse tenant base, ensuring stable income.

    Overview

    Located at 11594 Whistle Drive, Fishers, IN, this 29,984 SF strip center is fully occupied and features a mix of national tenants and dynamic retail concepts. The property has a Year 1 NOI of +\/-$1,080,000 and a WALT of 9.6 years. The ABR exceeds $30\/PSF across a diverse tenant base. The property is located within a submarket that has experienced a population climb of 38% since 2010, with forecasts indicating an increase to 135,000 by 2040. Fishers’ strategic location at the intersection of 116th and I-69 affords visibility and accessibility, enhanced by a thriving multifamily and hotel unit influx of over +7,000 and +2,000 units respectively within a 3-mile radius. Benefiting from Fishers’ robust capital investments exceeding $3.3 billion since 2014, including the transformative $550 million Fishers District expansion, this asset is positioned for rental growth aligned with regional developments. The retail vacancy is at 1.3% and is set to dip further.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fishers
    County
    Hancock
    State
    Indiana
    Longitude
    -85.975
    Latitude
    39.9479

    Nearby Similar for Sale

    • $559,900
      1,456 SF

      Fishers Ranch with Development Potential

      2.49 acres in Fishers with home and horse barn.
      12853 Cyntheanne Road, Fishers, IN 46037
      View Details
    • $185,000
      611 SF

      Fishers Office Suite For Sale

      Professionally managed office suite with excellent visibility and access.
      10412 Allisonville Rd, Fishers, IN 46038
      View Details
    • Contact for pricing
      2,426 SF

      Class A Office Building

      Office building in Fishers' trendiest district.
      11100 USA Pkwy, Fishers, IN 46037
      View Details
    • $1,250,000
      4,868 SF

      Updated Office Space in Fishers

      Well-maintained office building with contemporary finishes and ample parking.
      9904 N By Northeast Blvd, Fishers, IN
      View Details
    • $10,350,236
      15,676 SF

      New Retail Investment Opportunity

      New retail center in Fishers, Indiana, fully leased.
      8711 E 106th St, Fishers, IN 46037
      View Details
    • $3,801,582
      2,806 SF

      Absolute NNN Lease Investment

      NNN lease property with 1.5% annual rental increases.
      13778 Olivia Way, Fishers, IN 46038
      View Details
    • $3,300,000
      7,100 SF

      Office Flex Building For Sale

      Office flex building with immediate occupancy in prime location.
      10022 Lantern Rd, Fishers, IN
      View Details
    • Contact for pricing
      7,375 SF

      Retail Space on Allisonville Road

      7,375 SF retail space with high visibility in Fishers.
      11578 Allisonville Rd, Fishers, IN
      View Details
    • Contact for pricing
      42,859 SF

      42,859 SF Flex/Industrial Property

      Flex/Industrial property with 100% occupancy and in-place NOI.
      12000 Exit 5 Pkwy, Fishers, IN
      View Details
    • Contact for pricing
      15,320 SF

      Allisonville Road Freestanding Building

      Freestanding building suitable for school, church, daycare, or medical conversion.
      11965 Allisonville Rd, Fishers, IN 46038
      View Details
    • Contact for pricing
      62,426 SF

      Former Kroger Building For Sale

      62,426 SF former Kroger building on 10.60 acres.
      7264 Fishers Crossing Dr, Fishers, IN
      View Details
    • $3,300,000
      20,669 SF

      Office Flex Building For Sale

      Office flex building with immediate occupancy in prime location.
      10022 Lantern Rd, Fishers, IN 46037
      View Details

    FAQs

    What type of property is this?
    Strip mall - 29,984 SF strip center with a 9.6 year WALT.
    Where is this strip mall located?
    The property is located at 11594 Whistle Dr Fishers, IN.
    What are key features of this property?
    This property features: Newly constructed (2024), fully occupied 29,984 SF strip center in Fishers, IN.; Robust Year 1 NOI of +\/-$1,080,000 and a WALT of 9.6 years, indicating stable cash flow.; Located in a rapidly growing trade area with a population projected to reach 135,000 by 2040.
    (312) 300-7291 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Nieder
    Real Estate License ID: IL475.189942
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    11594 Whistle Dr, Fishers, IN 46037
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!