Mixed-Use Property with
For Sale
$589,000
Pending
2558 E 55th Place, Indianapolis, IN 46220
Commercial Sale, Indianapolis, IN
Property Size4,126 SF
Lot Size0.41 Acres
Days on Market45
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
Pending
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
Listed By:
Sharon Stamper Thompson · License ##RB14044406
(317) 564-7100
Added: Sep 16
Changed: Oct 16
Last Checked: Oct 30 at 6:06PM
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.
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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 / Yr
$50,131
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Indianapolis, IN
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
