Indianapolis Industrial Warehouse with
2051 Sherbrook Avenue Indianapolis, IN 46218
For Sale
$2,400,000
Spacious warehouse with recent upgrades, convenient highway access.
Property Size41,932 SF
Price / SF$57.24
Days on Market250
Property Features for 2051 Sherbrook Avenue
General Information
Standard status
Active
Size
41,932 SF
Property subtype
Industrial
Listing Agency:
SVN | Northern Commercial
(317) 863-9271
Listed By:
Wade Wilson · License #IN #RB20000720
(317) 863-9271
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 10
Last Checked: Jul 29 at 6:16AM
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
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 For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $327.1k | $7.80 |
| − Vacancy | −$28.5k | −$0.68 |
| EGI | $298.6k | $7.12 |
| − OpEx | −$89.6k | −$2.14 |
| NOI | $209.0k | $4.98 |
41,932 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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
