Indianapolis Industrial Warehouse with
For Sale
$2,400,000
2051 Sherbrook Avenue, Indianapolis, IN 46218
Spacious warehouse with recent upgrades, convenient highway access.
Property Size41,932 SF
Price / SF$57.24
Days on Market341
Property Features for 2051 Sherbrook Avenue
General Information
Standard status
Active
Size
41,932 SF
Property subtype
Industrial
Site & Location
Neighborhood
Martindale - Brightwood
Building Details
Building Size
41,932 SF
Listing Agency:
SVN | Northern Commercial
Listed By:
Wade Wilson · License #IN #RB20000720
(317) 863-9271
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 26
Last Checked: Oct 28 at 7:22AM
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 SVN | Northern Commercial
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Investment Insights
Based on property information with market context.
This expansive 40,000 square foot industrial warehouse is located northeast of downtown Indianapolis, offering connectivity to Highway I-70 and I-465. Situated at the corner of Bloyd Avenue and Sherbrook Avenue, the property features convenient access to major transportation routes and downtown Indianapolis. The warehouse includes one 14-foot drive-in door and a total of five loading docks, with three measuring 8'x10' and two measuring 8'x9'. The clear height ranges from 11 feet 2 inches to 15 feet 6 inches. The property is equipped with 3-phase power at 800 amps with 240/120V and is fully sprinkled for fire protection. Recent capital improvements include new LED lighting throughout the entire warehouse, new drive-in and dock doors, new hanging heaters, new windows, full interior and exterior paint, and a security system with cameras. This property presents an ideal owner-user opportunity.
Key Highlights
- Expansive 40,000 SF industrial warehouse suitable for owner‑user
- Excellent connectivity to Highway I‑70, I‑465, and downtown Indianapolis
- Recent capital improvements including new LED lighting, drive‑in/dock doors, hanging heaters, windows, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$209,030
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,180,600
$4.2M
Cap Rate 7%
$2,986,143
$3.0M
Cap Rate 9%
$2,322,556
$2.3M
Market Conditions
NOI Build-Up for 41,932 SF
Gross rent
$327.1K $7.80/SF
− Vacancy
−$28.5K −$0.68/SF
EGI
$298.6K $7.12/SF
− OpEx
−$89.6K −$2.14/SF
NOI
$209.0K $4.98/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,180,600
Cap Rate 7%
$2,986,143
Cap Rate 9%
$2,322,556
Alternative Uses
Best Use
Warehouse
$3.63M
$3.17M – $4.23M
NOI $253,822 @ 7.0% cap · market cap 10.58%
Second Best
Industrial
$2.99M
$2.61M – $3.48M
NOI $209,030 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$10.44M
$9.13M – $12.18M
NOI $730,623 @ 7.0% cap · market cap 30.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 46218, IN
30,400
Population
15,343
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
9.5 sq mi
ZIP Area
3,200
Density / Sq Mi
$34,635
Median Household Income
$29,745
Median Earnings
$1,056
Median Rent
$90,200
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?
Warehouse - Spacious warehouse with recent upgrades, convenient highway access.
Where is this warehouse located?
The property is located at 2051 Sherbrook Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Expansive 40,000 SF industrial warehouse suitable for owner‑user; Excellent connectivity to Highway I‑70, I‑465, and downtown Indianapolis; Recent capital improvements including new LED lighting, drive‑in/dock doors, hanging heaters, windows, and paint
