Flex Space with Drive-In
New
For Sale
$625,000
2229 E New York St, Indianapolis, IN 46201
East-side Indianapolis property offers multiple drive-in doors, on-site parking, and access to I-65 and I-70.
Property Size5,208 SF
Days on Market1
Property Features for 2229 E New York St
General Information
Standard status
Active
Size
5,208 SF
Property subtype
Industrial - Flex - Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
5,208 SF
Listing Agency:
Coombes Real Estate
Listed By:
Robert Coombes · License #RB17000978
Source:
Commercialcafe
Added: Oct 19
Last Checked: Oct 19 at 2:24PM
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 Coombes Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,208-square-foot flex property has a functional layout suited to warehouse, storage, or other flex use. Multiple drive-in doors and on-site parking support its practical configuration.
The property is on East New York Street, east of Downtown Indianapolis. I-65, I-70, and major east-side thoroughfares provide regional access; nearby retail, dining, and established neighborhoods are also part of the surrounding area.
The property is on East New York Street, east of Downtown Indianapolis. I-65, I-70, and major east-side thoroughfares provide regional access; nearby retail, dining, and established neighborhoods are also part of the surrounding area.
Key Highlights
- 5,208 SF flex/industrial property
- Multiple drive‑in doors
- On‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,184
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,680
$1.0M
Cap Rate 7%
$731,200
$731.2K
Cap Rate 9%
$568,711
$568.7K
Market Conditions
NOI Build-Up for 5,208 SF
Gross rent
$87.5K $16.80/SF
− Vacancy
−$8.7K −$1.68/SF
EGI
$78.7K $15.12/SF
− OpEx
−$27.6K −$5.29/SF
NOI
$51.2K $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%
$1,023,680
Cap Rate 7%
$731,200
Cap Rate 9%
$568,711
Alternative Uses
Best Use
Flex RnD
$731.2K
$639.8K – $853.1K
NOI $51,184 @ 7.0% cap · market cap 8.19%
Second Best
Warehouse
$450.4K
$394.1K – $525.4K
NOI $31,525 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,744 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Similar Off Market Nearby
- Terri's Corner Kitchen — 2805 E Michigan St, Indianapolis, IN 46201
Frequently Asked Questions
What type of property is this?
Flex space - East-side Indianapolis property offers multiple drive-in doors, on-site parking, and access to I-65 and I-70.
Where is this flex space located?
The property is located at 2229 E New York St Indianapolis, IN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 5,208 SF flex/industrial property; Multiple drive‑in doors; On‑site parking
