Freestanding Industrial Flex
For Sale
Contact for pricing
225 E 10th St, Indianapolis, IN 46202
Single-story masonry industrial flex offering 4 drive-in doors and vacant delivery with immediate occupancy.
Property Size7,300 SF
Price / SF$150.68
Days on Market66
Property Features for 225 E 10th St
General Information
Standard status
Active
Size
7,300 SF
Property subtype
FLEX_R_AND_D
Warehouse & Industrial
Drive-In Doors
4
Heavy Power
Yes
Building Details
Stories
1
Construction
masonry
Listing Agency:
Bradley Company - Corporate
(317) 663-6000
Listed By:
Benjamin Anderson
(419) 788-4906
Source:
Moodyscre
Added: Jul 10
Changed: Sep 10
Last Checked: Sep 12 at 10:21AM
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 - Corporate
Investment Insights
Based on property information with market context.
This freestanding masonry industrial flex building is single-story and totals 7,300 square feet. The space includes 4 drive-in doors and is offered vacant with immediate occupancy.
The property is positioned in a dense infill area with proximity to downtown.
A phase III power setup is noted, and the layout presents potential for a multi-tenancy configuration, giving an owner-user flexibility to lease surplus space to a co-tenant.
The property is positioned in a dense infill area with proximity to downtown.
A phase III power setup is noted, and the layout presents potential for a multi-tenancy configuration, giving an owner-user flexibility to lease surplus space to a co-tenant.
Key Highlights
- 7,300 RSF single‑story masonry industrial flex building
- 4 drive‑in doors for convenient loading and access
- Vacant delivery with immediate occupancy
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
$71,744
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
6.52%
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%
$1,434,880
$1.4M
Cap Rate 7%
$1,024,914
$1.0M
Cap Rate 9%
$797,156
$797.2K
Market Conditions
NOI Build-Up for 7,300 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
$122.6K $16.80/SF
− Vacancy
−$12.3K −$1.68/SF
EGI
$110.4K $15.12/SF
− OpEx
−$38.6K −$5.29/SF
NOI
$71.7K $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%
$1,434,880
Cap Rate 7%
$1,024,914
Cap Rate 9%
$797,156
Alternative Uses
Best Use
Flex RnD
$1.02M
$896.8K – $1.20M
NOI $71,744 @ 7.0% cap · market cap 6.52%
Second Best
Industrial
$519.9K
$454.9K – $606.5K
NOI $36,390 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,195 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 industrial flex offering 4 drive-in doors and vacant delivery with immediate occupancy.
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: 7,300 RSF single‑story masonry industrial flex building; 4 drive‑in doors for convenient loading and access; Vacant delivery with immediate occupancy
