Multi-Tenant Industrial
New
For Sale
$650,000
2043 E Minnesota Street, Indianapolis, IN 46203
Commercial Sale, Indianapolis, IN
Property Size7,650 SF
Lot Size0.36 Acres
Price / SF$84.97
Days on Market2
Property Features for 2043 E Minnesota Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C5
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
491018157131000101
Lot size
0.36 Acres
Additional Details
Tenant in Place
Yes
Property Use
Industrial
Taxes and HOA fees
Tax Year
2025
Tax Description
Factory Place L126 L127 & L128
Tax Annual Amount
6980
Legal Description
Factory Place L126 L127 & L128
Building Details
Year built
1950
Buildings
1
Listing Agency:
Keller Williams Indpls Metro N · Keller Williams Realty
Listed By:
Josie Lavey · License #RB20001480,INDIANA
(317) 846-6300
Added: Nov 3
Last Checked: Nov 4 at 1:06AM
MLS# 22134763
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 7,650-square-foot industrial property contains three suites, each with separate access. Two suites totaling 4,850 square feet are vacant, while a tenant occupies the remaining space. Improvements include a new roof, structural work, electrical updates, overhead doors, replacement windows, and selected interior updates. The building also has eight drive-in doors and on-site parking.
A fenced, gated yard sits behind the building at 2043 E Minnesota Street in Indianapolis. The property is zoned C5 and occupies a 0.36-acre site.
A fenced, gated yard sits behind the building at 2043 E Minnesota Street in Indianapolis. The property is zoned C5 and occupies a 0.36-acre site.
Key Highlights
- 7,650 SF industrial building with three separately accessed suites
- Two vacant suites total 4,850 SF; one suite is tenant‑occupied
- Eight drive‑in doors and on‑site parking
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
8
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Similar Off Market Nearby
- self storage place — Indianapolis, IN 46203
Frequently Asked Questions
What type of property is this?
Warehouse - Three independently accessed suites include vacant space and an existing tenant, with C5 zoning.
Where is this warehouse located?
The property is located at 2043 E Minnesota Street 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: 7,650 SF industrial building with three separately accessed suites; Two vacant suites total 4,850 SF; one suite is tenant‑occupied; Eight drive‑in doors and on‑site parking
