Building Details

Building Size 49,000 SF

Year Built 1967

Listing Agency: Keller Williams Indy South

Listed By: James Storey · License #RB17001849 Show Phone

Source: Evrealestate

Added: Feb 18 Changed: Oct 23 Last Checked: Oct 23 at 7:15AM

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Investment Insights

Based on property information with market context.

The property is an industrial warehouse building totaling 48,896 SF on an approximately 3.34-acre site. Constructed in 1971, the facility carries I-3 zoning and is positioned for industrial use within Indianapolis.

I-465 is located less than one mile from the property, providing direct proximity to a major regional transportation route. The address is 2334 Production Drive, Indianapolis, IN 46241.

Key Highlights

• 48,896 SF industrial warehouse building
• I‑3 zoning
• Less than one mile from I‑465

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$295,977

Cap Rate

6.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,919,540 $5.9M

Cap Rate 7%

$4,228,243 $4.2M

Cap Rate 9%

$3,288,633 $3.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 48,896 SF

Gross rent

$381.4K $7.80/SF

− Vacancy

−$33.2K −$0.68/SF

EGI

$348.2K $7.12/SF

− OpEx

−$52.2K −$1.07/SF

NOI

$296.0K $6.05/SF

Area

Indianapolis, IN

Vacancy

8.70%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,919,540

Cap Rate 7%

$4,228,243

Cap Rate 9%

$3,288,633

Alternative Uses

Best Use

Warehouse

$4.23M

$3.70M – $4.93M (±1% cap)

NOI $295,977 @ 7.0% cap · market cap 6.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$12.17M

$10.65M – $14.20M (±1% cap)

NOI $851,964 @ 7.0% cap · market cap 19.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Power Train Auto Parts Store TruckPro Auto Parts Store

Suggested Use

Top Pick Dental Office Spa & Massage Center Hair Salon (Bike/Boat/Book/etc) Store Grocery & Convenience Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

741

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 46241, IN

33,568

Population

12,414

Households

2.7

Avg Household Size

33

Median Age

15%

College-Educated

73%

High-School Grad

23.9 sq mi

ZIP Area

1,405

Density / Sq Mi

$51,598

Median Household Income

$33,477

Median Earnings

$1,118

Median Rent

$111,500

Median Home Value

Market

Vacancy Rate% for Industrial in Indianapolis, IN

4.3% 2019

5.4% 2020

4.1% 2021

5.3% 2022

9.9% 2023

10.5% 2024

7.6% 2025

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Similar Off Market Nearby

• K&N warehouse — US-40, Indianapolis, IN 46241
• Self Storage — 5730 Fortune Cir W, Indianapolis, IN 46241
• MQ Learning Center — 2301 Executive Dr, Indianapolis, IN 46241
• All My Sons Moving & Storage — 1936 S Lynhurst Dr, Indianapolis, IN 46241
• Enterprise Holdings H Lot — 1602 S High School Rd, Indianapolis, IN 46241

Frequently Asked Questions

What type of property is this?

Warehouse - Industrial building with I-3 zoning and access to I-465 within one mile.

Where is this warehouse located?

The property is located at 2334 Production Drive Indianapolis, IN.

What is the asking price?

The asking price for this property is $4,350,000.

What are key features of this property?

This property features: 48,896 SF industrial warehouse building; I‑3 zoning; Less than one mile from I‑465