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    Retail Property Near State Fairgrounds Title is generated by Realmo AI

    1834 E 38th St, Indianapolis, IN

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    Retail property with excellent visibility and on-site parking.

    Type:RETAIL
    Property size:
    3,200 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $171/SF
    Added:
    Jan 5, 2024
    Days on Market:
    899
    Last Refresh:
    May 20 at 10:03 pm

    Property Features for 1834 E 38th St

    General Information

    Standard status
    Active
    Size
    3,200 SF
    Lot size
    0.26 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Paul Rogozinski
    Paul Rogozinski

    Listing agent Paul Rogozinski License #RB14047100

    Listing office Veritas Realty

    Listing date Jan 5, 2024

    Source Moodyscre

    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 Veritas Realty

    HighLights

    • Ongoing business with meticulously maintained building
    • New roof, HVAC, hot water heater
    • Excellent street visibility with onsite parking
    • Equipment in like‑new condition
    • Easy access from 38th Street
    • Located near Indiana State Fairgrounds

    Overview

    This 3,200-square-foot retail property benefits from excellent street visibility and on-site parking. The building is meticulously maintained and features a new roof, HVAC system, and hot water heater. It offers easy access from 38th Street and is located near the Indiana State Fairgrounds. The property is currently operating as a business and includes equipment in like-new condition.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $53.8k $16.80
    − Vacancy −$4.6k −$1.43
    EGI $49.2k $15.37
    − OpEx −$14.8k −$4.61
    NOI $34.4k $10.76
    3,200 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $491.9K
    $430.4K – $573.9K (±1% cap)
    NOI $34,433 @ 7.0% cap · market cap 6.26%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $796.5K
    $697.0K – $929.3K (±1% cap)
    NOI $55,757 @ 7.0% cap · market cap 10.14%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Indy Auto Paint ... Auto Repair Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • So Petal Florist - Same Day Flower Delivery — 1920 E 38th St, Indianapolis, IN 46218

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1274
    Latitude
    39.8256

    FAQs

    What type of property is this?
    Storefront property - Retail property with excellent visibility and on-site parking.
    Where is this storefront property located?
    The property is located at 1834 E 38th St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Ongoing business with meticulously maintained building; New roof, HVAC, hot water heater; Excellent street visibility with onsite parking
    (317) 472-1800 Call to check price and availability
    More about this property
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