Mixed-Use Property with
New
For Sale
$589,000
2558 E 55th Place, Indianapolis, IN 46220
Commercial Sale, Indianapolis, IN
Property Size4,126 SF
Lot Size0.41 Acres
Price / SF$142.75
Days on Market3
Property Features for 2558 E 55th Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Light Industrial I-1, I-2
Parking features
Garage
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Subdivision
4903 - Marion - Washington
Standard status
Active
APN
490708116001000801
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
There are 3 separate parcels being sold together. 49-07-08-116-001.000-801 (Parcel 1) Residential, 49-07-08-116-001.000-801 (Parcel 2), 49-07-08-125-072.000-801 (Parcel 3).
Tax Annual Amount
7676
Legal Description
There are 3 separate parcels being sold together. 49-07-08-116-001.000-801 (Parcel 1) Residential, 49-07-08-116-001.000-801 (Parcel 2), 49-07-08-125-072.000-801 (Parcel 3).
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1956
Floors in Building
1
Listing Agency:
Keller Williams Indy Metro NE · Keller Williams Realty
(317) 564-7100
Listed By:
Sharon Stamper Thompson · License ##RB14044406
(317) 607-0884
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 18 at 5:06AM
MLS# 22125151
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use offering includes a 4,126+ SF warehouse and a separate limestone house across three parcels totaling 0.41 acres. The warehouse contains an office suite with a private office, break area with kitchenette, and bathroom, along with three 14-foot doors and HVAC installed in 2022. Industrial I-1 and I-2 zoning supports the existing commercial configuration, with warehouse availability noted for November 2026.
The residence provides 1,624 SF on the main level with three bedrooms, a fireplace-equipped living room, and a finished breezeway or bonus room. A finished 1,624 SF basement adds a separate entrance, kitchenette, and bathroom. Additional features include central heating and air conditioning, an attached one-car garage, and two exterior parking spaces. The property is within walking distance of Meier Grocery, public transportation, and the Nickel Plate Trail.
The residence provides 1,624 SF on the main level with three bedrooms, a fireplace-equipped living room, and a finished breezeway or bonus room. A finished 1,624 SF basement adds a separate entrance, kitchenette, and bathroom. Additional features include central heating and air conditioning, an attached one-car garage, and two exterior parking spaces. The property is within walking distance of Meier Grocery, public transportation, and the Nickel Plate Trail.
Key Highlights
- 4,126+ SF warehouse with three 14‑foot doors and HVAC installed in 2022
- Separate limestone house with 1,624 SF main level and 1,624 SF finished basement
- Three parcels totaling 0.41 acres
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
$50,131
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
8.51%
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%
$1,002,620
$1.0M
Cap Rate 7%
$716,157
$716.2K
Cap Rate 9%
$557,011
$557.0K
Market Conditions
NOI Build-Up for 4,126 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
$89.1K $21.60/SF
− Vacancy
−$8.9K −$2.16/SF
EGI
$80.2K $19.44/SF
− OpEx
−$30.1K −$7.29/SF
NOI
$50.1K $12.15/SF
Area
Indianapolis, IN
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,002,620
Cap Rate 7%
$716,157
Cap Rate 9%
$557,011
Alternative Uses
Best Use
Office B
$778.2K
$681.0K – $907.9K
NOI $54,476 @ 7.0% cap · market cap 9.25%
Second Best
Mixed Use
$716.2K
$626.6K – $835.5K
NOI $50,131 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$1.03M
$898.6K – $1.20M
NOI $71,891 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 46220, IN
36,078
Population
17,524
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,084
Density / Sq Mi
$103,735
Median Household Income
$58,867
Median Earnings
$1,330
Median Rent
$329,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Industrial-zoned property combines warehouse operations with a separate residence and flexible live-work functionality.
Where is this mixed-use property located?
The property is located at 2558 E 55th Place Indianapolis, IN.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 4,126+ SF warehouse with three 14‑foot doors and HVAC installed in 2022; Separate limestone house with 1,624 SF main level and 1,624 SF finished basement; Three parcels totaling 0.41 acres
