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    Westfield Industrial Garage Space Title is generated by Realmo AI

    17745 Motor District Circle, Westfield, IN 46074

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    Claim this Listing
    New
    For Sale
    $625,000

    Industrial - Westfield, IN

    Type:Industrial
    Property size:
    2,400 SF
    Price / SF:
    $260/SF
    Added:
    May 28, 2026
    Days on Market:
    3
    Last Refresh:
    May 30 at 2:06 pm

    Property Features for 17745 Motor District Circle

    General Information

    Property type
    Commercial Sale
    Property subtype
    Industrial
    Zoning
    Industrial/For Sale
    Parking features
    Garage, Guest, Heated, RV
    Security features
    Gated Community, Security System, Smoke Detector(s)
    Fencing
    Gate
    Standard status
    Active
    APN
    290533008020000015
    Size
    2,400 SF

    Utilities

    Heating system
    Electric (Heating), Radiant, Radiant Floor
    Cooling system
    Multi Units, Wall Unit(s)

    Building Details

    Year built
    2020
    Architectural style
    Other

    We can help!

    Listing Contact
    Derek Gutting
    Derek Gutting

    Listing agent Derek Gutting License #RB14024424

    Listing office Keller Williams Indpls Metro N N Meridian St Ste 200, Carmel, IN

    Listing date May 28, 2026

    MLS# 22104434 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2,400 sq. ft. heated garage space in Westfield's Motor District.
    • Second‑floor mezzanine with full kitchen (quartz tops, stainless appliances) and living/workspace with electric fireplace.
    • Room to fit 11 cars with a lift.
    • 24/7 surveillance for security.
    • Desirable end unit with large windows overlooking the vibrant event plaza.
    • Utilities included in HOA dues (except electricity).

    Overview

    This 2,400 sq. ft. heated garage space is located in the heart of Westfield's Motor District. The unit is suitable for collectors, enthusiasts, or businesses seeking a versatile space. The property features 24/7 surveillance. The unit includes a large overhead garage door and a spacious main floor suitable for vehicle storage, a workshop, or a private showroom. The space can fit 11 cars with a lift. There are two bathrooms. The property has clean, industrial styling and an open layout. The second-floor mezzanine overlooks the main garage and is designed for comfort and style, featuring a full kitchen with quartz tops, stainless appliances, dark cabinets, a tiled backsplash, and a large living/workspace area, complete with an electric fireplace. The end unit offers large windows with a view of the community's vibrant event plaza. The space blends utility with luxury in a prime location. Utilities are included in the annual HOA dues, except electricity, which is the owner's expense. The property is located in Westfield, Indiana, in Hamilton County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Kitchen & Bath Showroom Food Market Storage Facility Electrical Service Clothing & Fashion Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1788
    Latitude
    40.0482

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    FAQs

    What type of property is this?
    Flex space - 2,400 sq ft heated garage in Westfield's Motor District.
    Where is this flex space located?
    The property is located at 17745 Motor District Circle Westfield, IN.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: 2,400 sq. ft. heated garage space in Westfield's Motor District.; Second‑floor mezzanine with **full kitchen (quartz tops, stainless appliances) and living/workspace with electric fireplace.**; **Room to fit 11 cars with a lift.**
    (317) 679-6767
    We can help!
    Listing Contact
    Derek Gutting
    Derek Gutting
    Real Estate License ID: RB14024424
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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