Brick Mixed-Use Property with
For Sale
$409,000
8140 Castleton Rd, Indianapolis, IN 46250
One-level layout includes multiple offices, a kitchen, separate bathrooms, and on-site parking.
Property Size1,949 SF
Price / SF$209.85
Days on Market52
Property Features for 8140 Castleton Rd
General Information
Standard status
Active
Size
1,949 SF
Total Parking Spaces
21
Zoning
C4
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Building Details
Year Built
1920
Buildings
1
Stories
1
Construction
brick
Listing Agency:
Roberts Realty LLC
Listed By:
Andrew Roberts · License #RB15001499
(317) 214-0845
Source:
Eveloteam
Added: Aug 17
Changed: Sep 18
Last Checked: Oct 7 at 4:30PM
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 Roberts Realty LLC
Investment Insights
Based on property information with market context.
This brick mixed-use property is configured as an office and retail duplex on a single level. The interior includes a spacious entry, multiple offices, a kitchen, and two separate bathrooms. Built in 1920, the property contains 1,949 SF. C4 zoning supports professional services, customer services, and retail uses.
The property is immediately off 82nd St. in the Castleton / I-69 Corridor, within minutes of I-465 and I-69 at Exit 201. A 21-vehicle parking lot serves the building, with additional land identified for expansion. The site also offers access to Indianapolis and northern suburbs.
The property is immediately off 82nd St. in the Castleton / I-69 Corridor, within minutes of I-465 and I-69 at Exit 201. A 21-vehicle parking lot serves the building, with additional land identified for expansion. The site also offers access to Indianapolis and northern suburbs.
Key Highlights
- Brick office and retail duplex with a single‑level floor plan
- 1,949 SF property built in 1920
- C4 zoning supports professional services, customer services, and retail uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,733
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,660
$514.7K
Cap Rate 7%
$367,614
$367.6K
Cap Rate 9%
$285,922
$285.9K
Market Conditions
NOI Build-Up for 1,949 SF
Gross rent
$42.1K $21.60/SF
− Vacancy
−$7.8K −$4.00/SF
EGI
$34.3K $17.60/SF
− OpEx
−$8.6K −$4.40/SF
NOI
$25.7K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,660
Cap Rate 7%
$367,614
Cap Rate 9%
$285,922
Alternative Uses
Best Use
Office B
$367.6K
$321.7K – $428.9K
NOI $25,733 @ 7.0% cap · market cap 6.29%
Second Best
Mixed Use
$338.3K
$296.0K – $394.7K
NOI $23,680 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$485.1K
$424.5K – $566.0K
NOI $33,959 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 46250, IN
19,156
Population
9,815
Households
2
Avg Household Size
35
Median Age
53%
College-Educated
96%
High-School Grad
7.7 sq mi
ZIP Area
2,488
Density / Sq Mi
$69,591
Median Household Income
$45,696
Median Earnings
$1,293
Median Rent
$288,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Mixed-use property - One-level layout includes multiple offices, a kitchen, separate bathrooms, and on-site parking.
Where is this mixed-use property located?
The property is located at 8140 Castleton Rd Indianapolis, IN.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Brick office and retail duplex with a single‑level floor plan; 1,949 SF property built in 1920; C4 zoning supports professional services, customer services, and retail uses
