Two-Building Mixed-Use
New
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 Market2
Property Features for 1915 Southeastern Ave
General Information
Standard status
Active
Size
9,720 SF
Additional Details
Asking Price
$750,000
Highway Access
Yes
Building Details
Year Built
1905
Buildings
2
Listing Agency:
Doc Real Estate, Inc
Listed By:
Heather Bottorff Harmon · License #RB14029195
(317) 888-7333
Source:
Megandusing
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 5:08PM
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 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 = 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
$58,837
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
7.84%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
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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
