Multi-Tenant Mixed-Use
1915 Southeastern Avenue Indianapolis, IN 46201
For Sale
$899,900
Two income-producing buildings on one parcel offer a leased restaurant and additional space with multiple prior leasing configurations.
Property Size9,720 SF
Price / SF$92.58
Days on Market295
Property Features for 1915 Southeastern Avenue
General Information
Standard status
Active
Size
9,720 SF
Property subtype
Office
Building Details
Year Built
1905
Listing Agency:
Doc Real Estate, Inc
(317) 908-0531
Listed By:
Heather Bottorff Harmon · License #RB14029195
(317) 908-0531
Source:
Xome
Added: Oct 6, 2025
Changed: Jul 23
Last Checked: Jul 27 at 3:00AM
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 Doc Real Estate, Inc
Investment Insights
Based on property information with market context.
This offering includes two income-producing buildings on a single parcel, and the owner will not divide the properties for sale. One building is leased to a restaurant, with the tenant responsible for paying all utilities. The restaurant lease is set to expire in July 2026, and the tenant has indicated interest in staying.
The second building provides multiple areas that can be leased. One prior arrangement included a daycare center paying $3,500 per month, and another configuration includes private offices, a reception/front desk area, and a large conference room with a breakroom, which has been leased at $3,500 per month in the past. A third area is described as a warehouse or auto supply area and has been leased for $2,500 per month.
The location is described as a high-traffic area and is very near to the Fountain Sq. development and the Justice Department development. The property is approximately 1.5 miles from downtown Indianapolis and less than 1 mile from I-65 access.
The second building provides multiple areas that can be leased. One prior arrangement included a daycare center paying $3,500 per month, and another configuration includes private offices, a reception/front desk area, and a large conference room with a breakroom, which has been leased at $3,500 per month in the past. A third area is described as a warehouse or auto supply area and has been leased for $2,500 per month.
The location is described as a high-traffic area and is very near to the Fountain Sq. development and the Justice Department development. The property is approximately 1.5 miles from downtown Indianapolis and less than 1 mile from I-65 access.
Key Highlights
- Two income‑producing buildings on one parcel (sold together; owner will not divide).
- Restaurant building leased for $3,500/month; tenant pays all utilities; lease up July 2026.
- Second building includes multiple leasable areas, including a former $3,500/month daycare configuration.
Financial Insights For Warehouse
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 | $75.8k | $7.80 |
| − Vacancy | −$6.6k | −$0.68 |
| EGI | $69.2k | $7.12 |
| − OpEx | −$10.4k | −$1.07 |
| NOI | $58.8k | $6.05 |
9,720 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 15.00%
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.14M
NOI $128,333 @ 7.0% cap · market cap 14.26%
Second Best
Specialty Retail
$1.73M
$1.52M – $2.02M
NOI $121,379 @ 7.0% cap · market cap 13.49%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,361 @ 7.0% cap · market cap 18.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Two income-producing buildings on one parcel offer a leased restaurant and additional space with multiple prior leasing configurations.
Where is this office units located?
The property is located at 1915 Southeastern Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Two income‑producing buildings on one parcel (sold together; owner will not divide).; Restaurant building leased for $3,500/month; tenant pays all utilities; lease up July 2026.; Second building includes multiple leasable areas, including a former $3,500/month daycare configuration.
