Retail Office Building with
1209 East 46th Street Indianapolis, IN 46205
New
For Sale
Contact for pricing
Well-appointed office or retail building with ample parking and strong signage visibility.
Property Size3,072 SF
Price / SF$162.76
Days on Market7
Property Features for 1209 East 46th Street
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Retail
Listing Agency:
Coombes Real Estate
Listed By:
Robert Coombes · License #RB17000978
Source:
Crexi
Added: Jul 23
Changed: Jul 28
Last Checked: Jul 28 at 5:48AM
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
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 For Retail
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 | $51.6k | $16.80 |
| − Vacancy | −$4.4k | −$1.43 |
| EGI | $47.2k | $15.37 |
| − OpEx | −$14.2k | −$4.61 |
| NOI | $33.1k | $10.76 |
3,072 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
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.
Property Analytics
Location Intelligence
Current Use
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
