Freestanding Industrial Building with Outdoor
For Sale
$950,000
2845 Tobey Dr, Indianapolis, IN 46219
Freestanding industrial building with outdoor storage, heavy power, and excess north acreage for parking or storage.
Property Size7,602 SF
Lot Size1.22 Acres
Price / SF$118.75
Days on Market95
Property Features for 2845 Tobey Dr
General Information
Standard status
Active
Size
7,602 SF
Lot size
1.22 Acres
Property subtype
Industrial
Zoning
I-3
Site & Location
Neighborhood
Washington Place
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Heavy Power
Yes
Building Details
Building Size
7,602 SF
Year Built
1966
Year Renovated
2024
Listing Agency:
SVN | Northern Commercial
Listed By:
Wade Wilson · License #IN #RB20000720
(317) 863-9271
Source:
Svn
Added: Jul 22
Changed: Oct 2
Last Checked: Oct 23 at 4:44AM
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 SVN | Northern Commercial
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Investment Insights
Based on property information with market context.
2845 Tobey Drive is a +/- 8,000 SF freestanding industrial building situated on 1.22 acres in Indianapolis. The property is supported by I-3 zoning that permits outdoor storage and includes heavy 3-phase power (240/120V). A new roof replacement was completed in 2024, helping to support ongoing building performance.
The site also features excess acreage to the north that can be used for parking and/or additional storage. The property is described as offering excellent connectivity to I-465 and I-70. A tenant is in place through 12/31/26.
This offering combines a functional industrial structure with outdoor storage capacity and flexible use of additional exterior land.
The site also features excess acreage to the north that can be used for parking and/or additional storage. The property is described as offering excellent connectivity to I-465 and I-70. A tenant is in place through 12/31/26.
This offering combines a functional industrial structure with outdoor storage capacity and flexible use of additional exterior land.
Key Highlights
- ±8,000 SF freestanding industrial building on 1.22 acres in Indianapolis, IN
- I‑3 zoning with outdoor storage permitted
- Heavy 3‑phase power (240/120V)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,426
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,520
$968.5K
Cap Rate 7%
$691,800
$691.8K
Cap Rate 9%
$538,067
$538.1K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$62.4K $7.80/SF
− Vacancy
−$5.4K −$0.68/SF
EGI
$57.0K $7.12/SF
− OpEx
−$8.5K −$1.07/SF
NOI
$48.4K $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%
$968,520
Cap Rate 7%
$691,800
Cap Rate 9%
$538,067
Alternative Uses
Best Use
Warehouse
$691.8K
$605.3K – $807.1K
NOI $48,426 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,392 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
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
Similar Off Market Nearby
- Closetbox — 2521 Planes Dr, Indianapolis, IN 46219
- Stacey Moving & Storage — 2635 Planes Dr, Indianapolis, IN 46219
- Extra Space Storage — 3380 N Post Rd, Indianapolis, IN 46226
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding industrial building with outdoor storage, heavy power, and excess north acreage for parking or storage.
Where is this warehouse located?
The property is located at 2845 Tobey Dr Indianapolis, IN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: ±8,000 SF freestanding industrial building on 1.22 acres in Indianapolis, IN; I‑3 zoning with outdoor storage permitted; Heavy 3‑phase power (240/120V)
