Multi-Tenant Industrial
2043 E Minnesota St, Indianapolis, IN 46203
For Sale
New
$650,000
Three separately accessed suites support a combination of occupancy and rental income.
Property Size7,650 SF
Price / SF$84.97
Days on Market4
Property Features for 2043 E Minnesota St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Fenced Yard
Additional Details
Drive-In Doors
Tenant in Place
Property Use
Building Details
Year Built
Building Size
Tenancy
Listing Agency:
The Modglin Group
Listed By:
Streamlined Realty
(317) 721-2274
Source:
Streamlinedrealty
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 7:55AM
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 The Modglin Group
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Investment Insights
Based on property information with market context.
This 7,650-square-foot industrial building contains three suites, each with separate access. Two suites are vacant and total 4,850 square feet; the remaining suite has an existing tenant. Improvements include a new roof, structural repairs, electrical work, overhead doors, replacement windows, and selected interior updates. Eight drive-in doors, on-site parking, and a fenced, gated rear yard add to the property’s functional features. Built in 1950, the building is zoned C-5 for commercial and light industrial uses.
The property is located minutes from downtown Indianapolis and I-65 at 2043 E Minnesota St.
The property is located minutes from downtown Indianapolis and I-65 at 2043 E Minnesota St.
Key Highlights
- Three separately accessed suites in a 7,650‑square‑foot industrial building
- Two vacant suites total 4,850 square feet; one suite has an existing tenant
- Eight drive‑in doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,307
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$926,140
$926.1K
Cap Rate 7%
$661,529
$661.5K
Cap Rate 9%
$514,522
$514.5K
Market Conditions
NOI Build-Up for 7,650 SF
Gross rent
$59.7K $7.80/SF
− Vacancy
−$5.2K −$0.68/SF
EGI
$54.5K $7.12/SF
− OpEx
−$8.2K −$1.07/SF
NOI
$46.3K $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%
$926,140
Cap Rate 7%
$661,529
Cap Rate 9%
$514,522
Alternative Uses
Best Use
Warehouse
$661.5K
$578.8K – $771.8K
NOI $46,307 @ 7.0% cap · market cap 7.12%
Second Best
Industrial
$544.8K
$476.7K – $635.6K
NOI $38,135 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.90M
$1.67M – $2.22M
NOI $133,294 @ 7.0% cap · market cap 20.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Industrial properties in Indianapolis, IN
Properties on Market for Industrial properties in Indianapolis
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Industrial property - Three separately accessed suites support a combination of occupancy and rental income.
Where is this industrial property located?
The property is located at 2043 E Minnesota St Indianapolis, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three separately accessed suites in a 7,650‑square‑foot industrial building; Two vacant suites total 4,850 square feet; one suite has an existing tenant; Eight drive‑in doors
