Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Space Near Grand Park Title is generated by Realmo AI

    S Union St & Jersey St Westfield IN 46074 USA, Westfield, IN 46074

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

    Retail property near Grand Park in Westfield, Indiana.

    Type:Retail
    Property size:
    1,945 SF
    Added:
    Nov 22, 2025
    Days on Market:
    181
    Last Refresh:
    May 19 at 9:17 pm

    Property Features for S Union St & Jersey St Westfield IN 46074 USA

    General Information

    Standard status
    Active
    Size
    1,945 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Diana Zagarzhevskiy

    Listing agent Diana Zagarzhevskiy

    Listing office

    Listing date Nov 22, 2025

    Source Cbre

    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 Diana Zagarzhevskiy

    HighLights

    • Westfield: #1 Best Suburb to Move to in 2021 (Homes.com)
    • Proximity to Grand Park
    • Opportunity for major retailers and restaurants
    • More than 1.8 million visitors to Grand Park annually
    • Location in Westfield
    • Access to amenities due to Grand Park's popularity

    Overview

    This 1945-square-foot retail space is located in Westfield, Indiana, near the intersection of South Union Street and Jersey Street. The property benefits from its proximity to Grand Park, which attracts over 1.8 million visitors annually. This high traffic provides significant opportunities for retailers and restaurants seeking a presence in the area. Westfield was named the #1 Best Suburb to Move to in 2021 by Homes.com.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1788
    Latitude
    40.0482

    Nearby Similar for Lease

    • $18 SF/Yr
      2,641 SF

      Westfield Office Space For Rent

      Office space available for lease in Westfield, Indiana.
      17827 Commerce Drive, Westfield, IN
      View Details
    • $8 SF/Yr
      40,000 SF

      Westfield Warehouse Space Available

      40,000 SF warehouse with easy access to U.S. 31.
      2000 E. 196th Street, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Office/Warehouse Flex Space

      Versatile flex space suitable for retail, office, or showroom.
      16462 Southpark Dr, Westfield, IN 46074
      View Details
    • Contact for pricing
      2,641 SF

      Office Space with Private Entrance

      Office space with private entrance available for lease in 2026.
      17827 Commerce Dr, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Warehouse Space Available

      Warehouse space available for lease in Westfield, Indiana.
      20340 Grassy Branch Road, Westfield, IN 46074
      View Details
    • Contact for pricing
      14,000 SF

      Westfield Commercial Property For Rent

      Commercial property available for rent, close to US 31.
      17408 Tiller Court, Westfield, IN, 46074
      View Details
    • Contact for pricing
      22,500 SF

      New Industrial Space, Westfield, IN

      New industrial building with suites available for lease in Westfield.
      16465 Southpark Drive, Westfield, IN
      View Details
    • Contact for pricing
      10,000 SF

      Class A Medical Office Development

      New medical office buildings in Westfield, Indiana, for lease.
      17415 Gray Rd, Westfield, IN 46062
      View Details
    • Contact for pricing
      1,732 SF

      Westfield Retail and Restaurant Space

      Retail and restaurant spaces in a neighborhood shopping destination.
      14631-14655 N Gray Rd, Westfield, IN
      View Details
    • Contact for pricing
      13,048 SF

      Westfield Mixed-Use Development Opportunity

      64-acre mixed-use development with retail, residential, medical, and hospitality components.
      Park St & Westfield Blvd, Westfield, IN 46074, USA, Westfield, IN, 46074
      View Details
    • Contact for pricing
      1,560 SF

      Retail Space Near Monon Trail

      1,560 SF retail space with multiple access points.
      829 E State Rd 32, Westfield, IN
      View Details
    • Contact for pricing
      17,000 SF

      Westfield Warehouse Space Available

      17,000 SF warehouse space for lease in Westfield, Indiana.
      20418 Commerce Park Dr, Westfield, IN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail property near Grand Park in Westfield, Indiana.
    Where is this retail space located?
    The property is located at S Union St & Jersey St Westfield IN 46074 USA Westfield, IN.
    What are key features of this property?
    This property features: Westfield: #1 Best Suburb to Move to in 2021 (Homes.com); Proximity to Grand Park; Opportunity for major retailers and restaurants
    (317) 518-6257
    We can help!
    Listing Contact
    Diana Zagarzhevskiy
    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
    S Union St & Jersey St, Westfield, IN 46074, USA, Westfield, IN, 46074
    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!