Indianapolis Industrial Warehouse with
For Sale
$2,400,000
2051 Sherbrook Avenue, Indianapolis, IN 46218
Spacious warehouse with recent upgrades, convenient highway access.
Property Size41,932 SF
Price / SF$57.24
Days on Market256
Property Features for 2051 Sherbrook Avenue
General Information
Standard status
Active
Size
41,932 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: Nov 21, 2025
Changed: Jul 10
Last Checked: Aug 4 at 5:53AM
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 expansive 40,000 square foot industrial warehouse is located northeast of downtown Indianapolis, offering connectivity to Highway I-70 and I-465. Situated at the corner of Bloyd Avenue and Sherbrook Avenue, the property features convenient access to major transportation routes and downtown Indianapolis. The warehouse includes one 14-foot drive-in door and a total of five loading docks, with three measuring 8'x10' and two measuring 8'x9'. The clear height ranges from 11 feet 2 inches to 15 feet 6 inches. The property is equipped with 3-phase power at 800 amps with 240/120V and is fully sprinkled for fire protection. Recent capital improvements include new LED lighting throughout the entire warehouse, new drive-in and dock doors, new hanging heaters, new windows, full interior and exterior paint, and a security system with cameras. This property presents an ideal owner-user opportunity.
Key Highlights
- Expansive 40,000 SF industrial warehouse suitable for owner‑user
- Excellent connectivity to Highway I‑70, I‑465, and downtown Indianapolis
- Recent capital improvements including new LED lighting, drive‑in/dock doors, hanging heaters, windows, and paint
Financial Insights For Industrial
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 | $327.1k | $7.80 |
| − Vacancy | −$28.5k | −$0.68 |
| EGI | $298.6k | $7.12 |
| − OpEx | −$89.6k | −$2.14 |
| NOI | $209.0k | $4.98 |
41,932 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$3.63M
$3.17M – $4.23M
NOI $253,822 @ 7.0% cap · market cap 10.58%
Second Best
Industrial
$2.99M
$2.61M – $3.48M
NOI $209,030 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$10.44M
$9.13M – $12.18M
NOI $730,623 @ 7.0% cap · market cap 30.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46218, IN
30,400
Population
15,343
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
9.5 sq mi
ZIP Area
3,200
Density / Sq Mi
$34,635
Median Household Income
$29,745
Median Earnings
$1,056
Median Rent
$90,200
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Spacious warehouse with recent upgrades, convenient highway access.
Where is this warehouse located?
The property is located at 2051 Sherbrook Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Expansive 40,000 SF industrial warehouse suitable for owner‑user; Excellent connectivity to Highway I‑70, I‑465, and downtown Indianapolis; Recent capital improvements including new LED lighting, drive‑in/dock doors, hanging heaters, windows, and paint
