Industrial Lot with Three
For Sale
$2,200,000
2000 Dr Martin Luther King Jr St, Indianapolis, IN 46202
Large industrial lot with three buildings, suitable for industrial or commercial.
Property Size35,900 SF
Price / SF$61.28
Days on Market254
Property Features for 2000 Dr Martin Luther King Jr St
General Information
Standard status
Active
Size
35,900 SF
Building Details
Year Built
1914
Listing Agency:
Midland Realty Group, Inc.
Listed By:
Jhirmal Singh · License #RB20002065
(317) 702-8049
Source:
Eveloteam
Added: Jan 26
Changed: Oct 2
Last Checked: Oct 5 at 8:18PM
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 Midland Realty Group, Inc.
Investment Insights
Based on property information with market context.
This large industrial lot features three buildings and is zoned I-4, making it suitable for industrial or commercial use. The property includes multiple high doors and has been recently renovated. Its location offers nearby interstate access and benefits from substantial local traffic. The property is suited for various light or medium industrial applications, as well as commercial opportunities.
Key Highlights
- Large industrial lot featuring three buildings.
- Zoned I‑4, making it suitable for a range of industrial or commercial applications.
- Multiple high doors provide easy access for various operations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,961
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,579,220
$3.6M
Cap Rate 7%
$2,556,586
$2.6M
Cap Rate 9%
$1,988,456
$2.0M
Market Conditions
NOI Build-Up for 35,900 SF
Gross rent
$280.0K $7.80/SF
− Vacancy
−$24.4K −$0.68/SF
EGI
$255.7K $7.12/SF
− OpEx
−$76.7K −$2.14/SF
NOI
$179.0K $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%
$3,579,220
Cap Rate 7%
$2,556,586
Cap Rate 9%
$1,988,456
Alternative Uses
Best Use
Industrial
$2.56M
$2.24M – $2.98M
NOI $178,961 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.94M
$7.82M – $10.43M
NOI $625,522 @ 7.0% cap · market cap 28.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Industrial property - Large industrial lot with three buildings, suitable for industrial or commercial.
Where is this industrial property located?
The property is located at 2000 Dr Martin Luther King Jr St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Large industrial lot featuring three buildings.; Zoned I‑4, making it suitable for a range of industrial or commercial applications.; Multiple high doors provide easy access for various operations.
