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    Warehouse Space Near 16 Tech Title is generated by Realmo AI

    1175 W 16th St, Indianapolis, IN

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    15,900 SF warehouse adjacent to the 16 Tech District.

    Type:INDUSTRIAL
    Property size:
    15,900 SF
    Lot size:
    0.93 Acres
    Price / SF:
    $119/SF
    Added:
    Dec 28, 2023
    Days on Market:
    899
    Last Refresh:
    May 20 at 9:03 pm

    Property Features for 1175 W 16th St

    General Information

    Standard status
    Active
    Size
    15,900 SF
    Lot size
    0.93 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Spero G. Pulos
    Spero G. Pulos

    Listing agent Dan Root License #INST200755

    Listing office Lee & Associates | Indianapolis

    Listing date Dec 28, 2023

    Source Moodyscre

    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 Lee & Associates | Indianapolis

    HighLights

    • Directly adjacent to the New 16 Tech Innovation District
    • +/- 15,900 SF available on .93 AC
    • Benefit from 5 high bay overhead doors
    • Features +/-3,100 SF office space
    • Secured with a 6' security fence
    • Masonry building with concrete floors

    Overview

    This property features approximately 15,900 square feet of space situated on 0.93 acres. The available space includes around 3,100 square feet of office area. The main building is of masonry construction and has concrete floors. It is equipped with five high bay overhead doors and three bathrooms. A 6-foot security fence surrounds the property. An additional warehouse on the premises features steel construction. The property is zoned C-7 and is located directly adjacent to the New 16 Tech Innovation District.

    Local Financial Insights For Flex RnD

    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 $267.1k $16.80
    − Vacancy −$26.7k −$1.68
    EGI $240.4k $15.12
    − OpEx −$84.1k −$5.29
    NOI $156.3k $9.83
    15,900 SF · lease $16.80/SF/yr · vacancy 10.00% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $2.23M
    $1.95M – $2.60M (±1% cap)
    NOI $156,265 @ 7.0% cap · market cap 8.25%
    Second Best
    Warehouse
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,246 @ 7.0% cap · market cap 5.08%
    Theoretical Best
    Office A
    $3.96M
    $3.46M – $4.62M (±1% cap)
    NOI $277,042 @ 7.0% cap · market cap 14.62%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Granite Depot of Indianapolis Kitchen & Bath Showroom

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Dental Office Nail Salon

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

    Similar Places Nearby

    • Downtown indy self storage — 1233 W 18th St, Indianapolis, IN 46202
    • Lombard Auto Clinic LLc — 2232 montcalm st, indianapolis, in 46208

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1831
    Latitude
    39.7884

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    FAQs

    What type of property is this?
    Warehouse - 15,900 SF warehouse adjacent to the 16 Tech District.
    Where is this warehouse located?
    The property is located at 1175 W 16th St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: Directly adjacent to the New 16 Tech Innovation District; +/- 15,900 SF available on .93 AC; Benefit from 5 high bay overhead doors
    (317) 844-2700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Spero G. Pulos
    Spero G. Pulos
    Real Estate License ID: INST200755
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