Listing Agency: Colliers Show Phone

Listed By: Mike Lubbers, SIOR Show Phone

Source: Moodyscre

Added: Aug 22, 2024 Changed: Oct 25 Last Checked: Oct 28 at 12:25PM

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Investment Insights

Based on property information with market context.

This industrial property, located in Indianapolis, Indiana, offers 10,250 square feet of space. The property is suitable for industrial use.

Key Highlights

• 10,250 SF industrial property available for sale.
• Industrial property.
• Property.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,096

Cap Rate

4.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,021,920 $1.0M

Cap Rate 7%

$729,943 $729.9K

Cap Rate 9%

$567,733 $567.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,250 SF

Gross rent

$80.0K $7.80/SF

− Vacancy

−$7.0K −$0.68/SF

EGI

$73.0K $7.12/SF

− OpEx

−$21.9K −$2.14/SF

NOI

$51.1K $4.98/SF

Area

Indianapolis, IN

Vacancy

8.70%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,021,920

Cap Rate 7%

$729,943

Cap Rate 9%

$567,733

Alternative Uses

Best Use

Industrial

$729.9K

$638.7K – $851.6K (±1% cap)

NOI $51,096 @ 7.0% cap · market cap 4.19%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.55M

$2.23M – $2.98M (±1% cap)

NOI $178,596 @ 7.0% cap · market cap 14.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Holt Construction Group Construction Company Purge General Contractor

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Pharmacy Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

401

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Indianapolis, IN

4.3% 2019

5.4% 2020

4.1% 2021

5.3% 2022

9.9% 2023

10.5% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - 10,250 SF industrial property available for sale.

Where is this industrial property located?

The property is located at 8846 E 33rd St Indianapolis, IN.

What is the asking price?

The asking price for this property is $1,220,000.

What are key features of this property?

This property features: 10,250 SF industrial property available for sale.; Industrial property.; Property.