Industrial Warehouse with Secured
New
For Sale
$2,100,000
2490 N Graham Ave, Indianapolis, IN 46218
An I-2-zoned property with an IOS variance combines warehouse space and a fenced outdoor area.
Property Size21,000 SF
Lot Size3.25 Acres
Price / SF$100
Days on Market6
Property Features for 2490 N Graham Ave
General Information
Standard status
Active
Size
21,000 SF
Lot size
3.25 Acres
Property subtype
Warehouse
Zoning
I-2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
20.7 ft
Drive-In Doors
3
Three-Phase Power
Yes
Additional Details
Cap Rate
7.75%
Amenities
LAND-RICH IOS A 21,000-square-foot building situated on 3.25 acres creates a low-coverage industrial site with flexibility for building and outdoor operational requirements.
FUNCTIONAL INDUSTRIAL IMPROVEMENTS The facility features 20'8" clear height, three drive-in doors and three-phase power—practical specifications for a variety of industrial and service-oriented users.
FENCED OUTDOOR STORAGE POTENTIAL The secured site and approved IOS variance position the property for users requiring outdoor storage or staging in conjunction with an existing industrial building.
I-2 INDUSTRIAL ZONING The property's I-2 zoning reinforces its industrial positioning and complements the existing warehouse improvements and land-intensive configuration.
OWNER-USER OPTIONALITY The combination of building area, secured yard, loading, power and highway connectivity creates a flexible acquisition profile for contractors, service companies, fleet operators and other industrial users.
Building Details
Building Size
21,000 SF
Year Built
2001
Buildings
1
Listing Agency:
Marcus & Millichap - Indianapolis
Listed By:
Gus Poulos · License #License(s): IN: RB18000371
(317) 218-5348
Source:
Marcusmillichap
Added: Oct 1
Last Checked: Oct 5 at 3:04PM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
This Indianapolis industrial property includes a 21,000-square-foot facility on 3.25 acres. Built in 2001, the building has 20'8" clear height, three drive-in doors, and three-phase power. The site is fenced and secured, with an IOS variance and substantial outdoor area alongside the warehouse improvements.
Located at 2490 N Graham Ave on the city’s east side, the property has access to I-70. That interstate connects with I-465, I-65, I-69, and I-74, linking the site to the wider Indianapolis highway network.
Located at 2490 N Graham Ave on the city’s east side, the property has access to I-70. That interstate connects with I-465, I-65, I-69, and I-74, linking the site to the wider Indianapolis highway network.
Key Highlights
- 21,000‑square‑foot industrial building on 3.25 acres
- I‑2 zoning with an IOS variance
- Fenced, secured yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,117
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,542,340
$2.5M
Cap Rate 7%
$1,815,957
$1.8M
Cap Rate 9%
$1,412,411
$1.4M
Market Conditions
NOI Build-Up for 21,000 SF
Gross rent
$163.8K $7.80/SF
− Vacancy
−$14.3K −$0.68/SF
EGI
$149.5K $7.12/SF
− OpEx
−$22.4K −$1.07/SF
NOI
$127.1K $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%
$2,542,340
Cap Rate 7%
$1,815,957
Cap Rate 9%
$1,412,411
Alternative Uses
Best Use
Warehouse
$1.82M
$1.59M – $2.12M
NOI $127,117 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.23M
$4.57M – $6.10M
NOI $365,904 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20 ft
Clear height
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46218, IN
30,400
Population
15,343
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
9.5 sq mi
ZIP Area
3,200
Density / Sq Mi
$34,635
Median Household Income
$29,745
Median Earnings
$1,056
Median Rent
$90,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Warehouse - An I-2-zoned property with an IOS variance combines warehouse space and a fenced outdoor area.
Where is this warehouse located?
The property is located at 2490 N Graham Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 21,000‑square‑foot industrial building on 3.25 acres; I‑2 zoning with an IOS variance; Fenced, secured yard
