Freestanding Industrial Building with
For Sale
Contact for pricing
1805 W 15th St, Indianapolis, IN 46202
Freestanding industrial building with 17' clear height, heavy 3-phase 200-amp power, and fenced storage/parking on-site.
Property Size6,320 SF
Lot Size0.50 Acres
Price / SF$110.76
Days on Market206
Property Features for 1805 W 15th St
General Information
Standard status
Active
Size
6,320 SF
Lot size
0.50 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
17 ft
Heavy Power
Yes
Listing Agency:
SVN | Northern Commercial
(317) 843-8448
Listed By:
Wade Wilson · License ##RB20000720
(317) 863-9271
Source:
Moodyscre
Added: Feb 13
Changed: Aug 14
Last Checked: Jul 22 at 1:45PM
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 SVN | Northern Commercial
Investment Insights
Based on property information with market context.
Freestanding industrial building offering approximately 6,500 square feet on a 0.5-acre site. The main warehouse provides 17' clear height, supported by heavy 3-phase 200-amp power. An on-site fenced storage and parking area adds practical space for equipment, staging, or vehicle storage.
The property is described as having excellent access to downtown Indianapolis and I-465, making it a convenient option for industrial users needing regional connectivity.
As reflected in the listing remarks, the property is positioned as a historic asset with deep Indianapolis racing history, providing character alongside functional warehouse features and power capacity for day-to-day operations.
The property is described as having excellent access to downtown Indianapolis and I-465, making it a convenient option for industrial users needing regional connectivity.
As reflected in the listing remarks, the property is positioned as a historic asset with deep Indianapolis racing history, providing character alongside functional warehouse features and power capacity for day-to-day operations.
Key Highlights
- ±6,500 SF freestanding industrial building on a 0.5‑acre lot
- 17' clear height in the main warehouse
- Heavy 3‑phase 200‑amp power
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,256
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$765,120
$765.1K
Cap Rate 7%
$546,514
$546.5K
Cap Rate 9%
$425,067
$425.1K
Market Conditions
NOI Build-Up for 6,320 SF
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.
Gross rent
$49.3K $7.80/SF
− Vacancy
−$4.3K −$0.68/SF
EGI
$45.0K $7.12/SF
− OpEx
−$6.8K −$1.07/SF
NOI
$38.3K $6.05/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$765,120
Cap Rate 7%
$546,514
Cap Rate 9%
$425,067
Alternative Uses
Best Use
Warehouse
$546.5K
$478.2K – $637.6K
NOI $38,256 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,120 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17 ft
Clear height
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Questions? Ask Rey
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Similar Off Market Nearby
- Downtown indy self storage — 1233 W 18th St, Indianapolis, IN 46202
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding industrial building with 17' clear height, heavy 3-phase 200-amp power, and fenced storage/parking on-site.
Where is this warehouse located?
The property is located at 1805 W 15th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: ±6,500 SF freestanding industrial building on a 0.5‑acre lot; 17' clear height in the main warehouse; Heavy 3‑phase 200‑amp power
