Freestanding Industrial Building with Outdoor
2845 Tobey Dr Indianapolis, IN 46219
New
For Sale
$950,000
Freestanding industrial building with outdoor storage, heavy power, and excess north acreage for parking or storage.
Property Size8,000 SF
Lot Size1.22 Acres
Price / SF$118.75
Days on Market2
Property Features for 2845 Tobey Dr
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Lot size
- 1.22 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1966
Listing Agency:
SVN⎮Northern Commercial
(317) 863-9271
Listed By:
Wade Wilson · License #IN #RB20000720
(317) 863-9271
Source:
Svn
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 3:13AM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.4k | $7.80 |
| − Vacancy | −$5.4k | −$0.68 |
| EGI | $57.0k | $7.12 |
| − OpEx | −$8.5k | −$1.07 |
| NOI | $48.4k | $6.05 |
8,000 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 15.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Transcat Indianapolis, Indiana ...
(Bike/Boat/Book/etc) Store
Transcat Indianapolis, Indiana ...
Laboratory
Similar Off Market Nearby
- Extra Space Storage — 3380 N Post Rd, Indianapolis, IN 46226
- Stacey Moving & Storage — 2635 Planes Dr, Indianapolis, IN 46219
- Closetbox — 2521 Planes Dr, Indianapolis, IN 46219
FAQs
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)
