Two-Building Mixed-Use
For Sale
$750,000
1915 Southeastern Ave, Indianapolis, IN 46201
Includes a leased restaurant building and a larger multi-suite commercial building.
Property Size9,720 SF
Price / SF$77.16
Days on Market50
Property Features for 1915 Southeastern Ave
General Information
Standard status
Active
Size
9,720 SF
Site & Location
Neighborhood
Fountain Square
Highway Access
Yes
Additional Details
Asking Price
$750,000
Building Details
Year Built
1905
Buildings
2
Listing Agency:
Doc Real Estate, Inc
Listed By:
Heather Bottorff Harmon · License #RB14029195
(317) 908-0531
Source:
Megandusing
Added: Sep 16
Changed: Oct 25
Last Checked: Oct 7 at 2:04PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property consists of two commercial buildings on one parcel at 1915 Southeastern Ave. The approximately 7,200-square-foot building contains multiple suites with a reception area, conference room, breakroom, and warehouse, retail, and service areas. The approximately 2,500-square-foot restaurant building is currently leased, with the lease scheduled to expire in July 2026. A survey supports the potential for separate building sales, subject to applicable approvals.
The property is approximately 1.5 miles from downtown Indianapolis, less than one mile from I-65, and near Fountain Square and the Community Justice Campus. Previous uses across the buildings have included restaurant, church, daycare, professional office, auto repair, convenience store, and clothing store operations.
The property is approximately 1.5 miles from downtown Indianapolis, less than one mile from I-65, and near Fountain Square and the Community Justice Campus. Previous uses across the buildings have included restaurant, church, daycare, professional office, auto repair, convenience store, and clothing store operations.
Key Highlights
- Two commercial buildings situated on one parcel
- Approximately 7,200 sq. ft. multi‑suite building with office, warehouse, retail, and service areas
- Approximately 2,500 sq. ft. restaurant building currently leased through July 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,837
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,176,740
$1.2M
Cap Rate 7%
$840,529
$840.5K
Cap Rate 9%
$653,744
$653.7K
Market Conditions
NOI Build-Up for 9,720 SF
Gross rent
$75.8K $7.80/SF
− Vacancy
−$6.6K −$0.68/SF
EGI
$69.2K $7.12/SF
− OpEx
−$10.4K −$1.07/SF
NOI
$58.8K $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 Rate 5%
$1,176,740
Cap Rate 7%
$840,529
Cap Rate 9%
$653,744
Alternative Uses
Best Use
Specialty Retail
$1.73M
$1.52M – $2.02M
NOI $121,379 @ 7.0% cap · market cap 16.18%
Second Best
Mixed Use
$1.69M
$1.48M – $1.97M
NOI $118,098 @ 7.0% cap · market cap 15.75%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,361 @ 7.0% cap · market cap 22.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a leased restaurant building and a larger multi-suite commercial building.
Where is this mixed-use property located?
The property is located at 1915 Southeastern Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two commercial buildings situated on one parcel; Approximately 7,200 sq. ft. multi‑suite building with office, warehouse, retail, and service areas; Approximately 2,500 sq. ft. restaurant building currently leased through July 2026
