Two-Story Mixed-Use
For Sale
Contact for pricing
1628 S East, Indianapolis, IN 46225
Finished warehouse space and rear garage access accommodate loading and storage.
Property Size6,300 SF
Price / SF$1.08
Days on Market45
Property Features for 1628 S East
General Information
Standard status
Active
Size
6,300 SF
Property subtype
Mixed Use
Site & Location
Neighborhood
Near Southside
Highway Access
Yes
Mixed-Use Components
office, warehouse
Additional Details
Property Use
Flex/Mixed-Use
Amenities
Kitchen
Building Details
Year Built
2021
Buildings
1
Stories
2
Building Size
6,300 SF
Listing Agency:
F.C. Tucker Company
(317) 686-0612
Listed By:
Alexa Schutz
Source:
Locksteprealty
Added: Sep 15
Changed: Oct 28
Last Checked: Oct 28 at 1:26PM
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 F.C. Tucker Company
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Investment Insights
Based on property information with market context.
Built in 2021, this 6,300-square-foot mixed-use property spans two floors and combines office and flexible work areas with finished warehouse space. Contemporary finishes and abundant natural light complement a large kitchen on the upper level. Rear garage access provides a route for loading and storage, and parking is available on site.
The property is on East Street in Indianapolis, near Bates-Hendricks, Fountain Square, Garfield Park, and downtown. I-65 and I-70 provide regional connections. The layout supports a range of stated possibilities, including office, creative workspace, showroom, retail, studio, service, and office-warehouse use.
The property is on East Street in Indianapolis, near Bates-Hendricks, Fountain Square, Garfield Park, and downtown. I-65 and I-70 provide regional connections. The layout supports a range of stated possibilities, including office, creative workspace, showroom, retail, studio, service, and office-warehouse use.
Key Highlights
- 6,300 SF across two stories
- Built in 2021
- Finished warehouse area with rear garage access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,405
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,100
$628.1K
Cap Rate 7%
$448,643
$448.6K
Cap Rate 9%
$348,944
$348.9K
Market Conditions
NOI Build-Up for 6,300 SF
Gross rent
$49.1K $7.80/SF
− Vacancy
−$4.3K −$0.68/SF
EGI
$44.9K $7.12/SF
− OpEx
−$13.5K −$2.14/SF
NOI
$31.4K $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%
$628,100
Cap Rate 7%
$448,643
Cap Rate 9%
$348,944
Alternative Uses
Best Use
Mixed Use
$1.09M
$956.8K – $1.28M
NOI $76,545 @ 7.0% cap · market cap 1,125.66%
Second Best
Flex RnD
$884.5K
$774.0K – $1.03M
NOI $61,916 @ 7.0% cap · market cap 910.53%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,771 @ 7.0% cap · market cap 1,614.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
Explore this area
Business Placement
Demographics for 46225, IN
6,503
Population
3,056
Households
2.1
Avg Household Size
35
Median Age
29%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
1,626
Density / Sq Mi
$47,917
Median Household Income
$36,132
Median Earnings
$1,104
Median Rent
$123,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Mixed-use property - Finished warehouse space and rear garage access accommodate loading and storage.
Where is this mixed-use property located?
The property is located at 1628 S East Indianapolis, IN.
What are key features of this property?
This property features: 6,300 SF across two stories; Built in 2021; Finished warehouse area with rear garage access
