Two-Building Mixed-Use
For Sale
$750,000
1915 Southeastern Avenue, Indianapolis, IN 46201
Commercial Sale, Indianapolis, IN
Property Size2,500 SF
Lot Size0.45 Acres
Price / SF$300
Days on Market326
Property Features for 1915 Southeastern Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
c-3
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Subdivision
4910 - Marion - Center
Standard status
Active
APN
491007205199000101
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
State Square Add L115 Thru L117 & 3' W Side L118 Also 63.85' S End L114
Tax Annual Amount
4800
Legal Description
State Square Add L115 Thru L117 & 3' W Side L118 Also 63.85' S End L114
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1905
Floors in Building
1
Roof type
Shingle
Listing Agency:
Doc Real Estate, Inc
(317) 888-7333
Listed By:
Heather Bottorff Harmon · License #RB14029195
(317) 908-0531
Added: Nov 24, 2025
Changed: Oct 8
Last Checked: Oct 16 at 2:06AM
MLS# 22074689
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property consists of two commercial buildings on a 0.45-acre parcel. One building contains approximately 7,200 square feet across multiple suites, with professional office areas, reception, conference and breakroom space, along with warehouse, retail or service areas. The second building is an approximately 2,500-square-foot restaurant that is currently leased. C-3 zoning applies to the property. The larger building has one occupied space, while the restaurant lease runs through July 2026; the tenant has indicated interest in renewal.
The site is in Indianapolis, less than one mile from I-65 and approximately 1.5 miles from downtown. Fountain Square and the Community Justice Campus are among the nearby destinations. The buildings have previously accommodated a range of commercial uses, including offices, daycare, restaurant and auto repair, subject to applicable approvals for future uses.
The site is in Indianapolis, less than one mile from I-65 and approximately 1.5 miles from downtown. Fountain Square and the Community Justice Campus are among the nearby destinations. The buildings have previously accommodated a range of commercial uses, including offices, daycare, restaurant and auto repair, subject to applicable approvals for future uses.
Key Highlights
- Two commercial buildings on a 0.45‑acre parcel
- Approximately 7,200‑square‑foot building with multiple suites and office, warehouse, retail, or service areas
- Approximately 2,500‑square‑foot restaurant building is leased through July 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,219
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,380
$624.4K
Cap Rate 7%
$445,986
$446.0K
Cap Rate 9%
$346,878
$346.9K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$45.0K $18.00/SF
− Vacancy
−$3.4K −$1.35/SF
EGI
$41.6K $16.65/SF
− OpEx
−$10.4K −$4.16/SF
NOI
$31.2K $12.49/SF
Area
Indianapolis, IN
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,380
Cap Rate 7%
$445,986
Cap Rate 9%
$346,878
Alternative Uses
Best Use
Specialty Retail
$446.0K
$390.2K – $520.3K
NOI $31,219 @ 7.0% cap · market cap 4.16%
Second Best
Mixed Use
$433.9K
$379.7K – $506.3K
NOI $30,375 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$622.3K
$544.5K – $726.0K
NOI $43,560 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate buildings offer restaurant, office, and warehouse or service space on a single parcel.
Where is this mixed-use property located?
The property is located at 1915 Southeastern Avenue 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 on a 0.45‑acre parcel; Approximately 7,200‑square‑foot building with multiple suites and office, warehouse, retail, or service areas; Approximately 2,500‑square‑foot restaurant building is leased through July 2026
