Freestanding Single-Story Industrial
For Sale
Contact for pricing
225 E 10th St, Indianapolis, IN 46202
Single-story masonry flex building with four drive-in doors and Phase III power on an infill lot.
Property Size7,128 SF
Price / SF$154.32
Days on Market141
Property Features for 225 E 10th St
General Information
Standard status
Active
Size
7,128 SF
Property subtype
Industrial
Zoning
C-4
Warehouse & Industrial
Drive-In Doors
4
Heavy Power
Yes
Building Details
Buildings
1
Stories
1
Listing Agency:
Bradley Company Indianapolis
Listed By:
Ben Anderson · License #RB24001296
Source:
Crexi
Added: Apr 17
Changed: Aug 28
Last Checked: Sep 1 at 12:00PM
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 Bradley Company Indianapolis
Investment Insights
Based on property information with market context.
225 E. 10th St. offers a freestanding, single-story masonry industrial flex building totaling 7,300 rentable square feet on an 8,925 SF infill lot. The building includes four (4) drive-in doors and Phase III power, supporting a range of light industrial and service-oriented uses. The property is being delivered vacant with immediate occupancy, allowing an owner-user to take possession without lease encumbrances or holdover risk.
Located in the dense St. Joseph neighborhood of Marion County, the asset is positioned for connectivity to downtown Indianapolis, Monument Circle, and the Mass Ave Arts District. The configuration also offers the potential for multi-tenant use to lease surplus space during an ownership hold.
With its functional access, flexible flex layout, and drive-in door count, the property is suited for buyers seeking a straightforward, move-in-ready facility in an urban infill setting.
Located in the dense St. Joseph neighborhood of Marion County, the asset is positioned for connectivity to downtown Indianapolis, Monument Circle, and the Mass Ave Arts District. The configuration also offers the potential for multi-tenant use to lease surplus space during an ownership hold.
With its functional access, flexible flex layout, and drive-in door count, the property is suited for buyers seeking a straightforward, move-in-ready facility in an urban infill setting.
Key Highlights
- Freestanding single‑story masonry industrial/flex building totaling 7,300 rentable SF
- Located on an 8,925 SF infill lot
- Includes four (4) drive‑in doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,054
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,401,080
$1.4M
Cap Rate 7%
$1,000,771
$1.0M
Cap Rate 9%
$778,378
$778.4K
Market Conditions
NOI Build-Up for 7,128 SF
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.
Gross rent
$119.8K $16.80/SF
− Vacancy
−$12.0K −$1.68/SF
EGI
$107.8K $15.12/SF
− OpEx
−$37.7K −$5.29/SF
NOI
$70.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,401,080
Cap Rate 7%
$1,000,771
Cap Rate 9%
$778,378
Alternative Uses
Best Use
Flex RnD
$1.00M
$875.7K – $1.17M
NOI $70,054 @ 7.0% cap · market cap 6.37%
Second Best
Warehouse
$616.4K
$539.3K – $719.1K
NOI $43,147 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,198 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
3,995
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Flex space - Single-story masonry flex building with four drive-in doors and Phase III power on an infill lot.
Where is this flex space located?
The property is located at 225 E 10th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Freestanding single‑story masonry industrial/flex building totaling 7,300 rentable SF; Located on an 8,925 SF infill lot; Includes four (4) drive‑in doors
