Office/Warehouse Flex
For Sale
$369,000
2115 E 45th St, Indianapolis, IN 46205
Functional office and warehouse areas include gas heat and municipal water and sewer service.
Property Size3,030 SF
Price / SF$121.78
Days on Market72
Property Features for 2115 E 45th St
General Information
Standard status
Active
Size
3,030 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1980
Buildings
1
Building Size
3,030 SF
Listing Agency:
HSI Commercial & Residential Group, Inc
Listed By:
Samuel Henen · License #MBR42662
Source:
Mcwatersrealestate
Added: Aug 3
Changed: Sep 10
Last Checked: Oct 7 at 5:32PM
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 HSI Commercial & Residential Group, Inc
Investment Insights
Based on property information with market context.
This 3,030-square-foot flex building combines office accommodations with warehouse space in a practical commercial layout. The property was built in 1980 and offers a 16-foot clear height, one grade-level overhead door, and gas heating. City water and sewer serve the building.
The property is located at 2115 E 45th Street in Indianapolis, providing access across the city. Its configuration can support an owner-user, contractor, light manufacturing operation, storage use, or an expanding business.
The property is located at 2115 E 45th Street in Indianapolis, providing access across the city. Its configuration can support an owner-user, contractor, light manufacturing operation, storage use, or an expanding business.
Key Highlights
- 3,030SF flex building with office and warehouse areas
- 16‑foot clear ceiling height
- One grade‑level overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,779
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,580
$595.6K
Cap Rate 7%
$425,414
$425.4K
Cap Rate 9%
$330,878
$330.9K
Market Conditions
NOI Build-Up for 3,030 SF
Gross rent
$50.9K $16.80/SF
− Vacancy
−$5.1K −$1.68/SF
EGI
$45.8K $15.12/SF
− OpEx
−$16.0K −$5.29/SF
NOI
$29.8K $9.83/SF
Area
Indianapolis, IN
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,580
Cap Rate 7%
$425,414
Cap Rate 9%
$330,878
Alternative Uses
Best Use
Office B
$571.5K
$500.1K – $666.8K
NOI $40,005 @ 7.0% cap · market cap 10.84%
Second Best
Flex RnD
$425.4K
$372.2K – $496.3K
NOI $29,779 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$754.2K
$659.9K – $879.9K
NOI $52,795 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46205, IN
27,531
Population
14,756
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,440
Density / Sq Mi
$65,756
Median Household Income
$48,138
Median Earnings
$1,087
Median Rent
$278,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Flex space - Functional office and warehouse areas include gas heat and municipal water and sewer service.
Where is this flex space located?
The property is located at 2115 E 45th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 3,030SF flex building with office and warehouse areas; 16‑foot clear ceiling height; One grade‑level overhead door
