Retail Office Building with
1209 East 46th Street, Indianapolis, IN 46205
For Sale
$499,999
Well-appointed office or retail building with ample parking and strong signage visibility.
Property Size3,072 SF
Days on Market106
Property Features for 1209 East 46th Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Listing Agency:
Coombes Real Estate
Listed By:
Robert Coombes · License #RB17000978
Source:
Commercialcafe
Added: Jul 27
Changed: Nov 9
Last Checked: Nov 8 at 2:48AM
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 Coombes Real Estate
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Investment Insights
Based on property information with market context.
A well-appointed office or retail asset designed for customer-facing convenience, featuring ample parking and signage opportunities intended to support visibility from the street. The property is presented with strong curb appeal and a commanding street presence suitable for a range of retail or office uses.
Located in the South Broad Ripple "SoBro" submarket, the property neighbors the popular Monon bike/run/walk trail and sits just north of the Indiana State Fairgrounds. Access to Indianapolis is described as straightforward via College Ave and Keystone Ave a few blocks either side of the property.
Overall, it offers a practical build-out for either office or retail occupancy, supported by on-site parking and dedicated frontage-focused exposure.
Located in the South Broad Ripple "SoBro" submarket, the property neighbors the popular Monon bike/run/walk trail and sits just north of the Indiana State Fairgrounds. Access to Indianapolis is described as straightforward via College Ave and Keystone Ave a few blocks either side of the property.
Overall, it offers a practical build-out for either office or retail occupancy, supported by on-site parking and dedicated frontage-focused exposure.
Key Highlights
- Well‑appointed office or retail building
- Strong street presence with strong curb appeal
- Ample on‑site parking for convenient customer access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,056
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,120
$661.1K
Cap Rate 7%
$472,229
$472.2K
Cap Rate 9%
$367,289
$367.3K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$51.6K $16.80/SF
− Vacancy
−$4.4K −$1.43/SF
EGI
$47.2K $15.37/SF
− OpEx
−$14.2K −$4.61/SF
NOI
$33.1K $10.76/SF
Area
Indianapolis, IN
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,120
Cap Rate 7%
$472,229
Cap Rate 9%
$367,289
Alternative Uses
Best Use
Retail
$472.2K
$413.2K – $550.9K
NOI $33,056 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$764.7K
$669.1K – $892.1K
NOI $53,527 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
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Business Placement
Demographics for 46205, IN
27,531
Population
14,756
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,440
Density / Sq Mi
$65,756
Median Household Income
$48,138
Median Earnings
$1,087
Median Rent
$278,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Retail space in Indianapolis
Vacancy Rate% for Retail in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Retail space - Well-appointed office or retail building with ample parking and strong signage visibility.
Where is this retail space located?
The property is located at 1209 East 46th Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Well‑appointed office or retail building; Strong street presence with strong curb appeal; Ample on‑site parking for convenient customer access
