Building Details

Year Built 2005

Listing Agency: Exp Realty, LLC

Listed By: Streamlined Realty Show Phone

Source: Streamlinedrealty

Added: Aug 19 Changed: Oct 15 Last Checked: Oct 14 at 11:42PM

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Investment Insights

Based on property information with market context.

This 12,104-square-foot shopping center was built in 2005 and occupies a commercial site along N German Church Rd. The property offers a sizable footprint for retail-oriented operations, with visibility from the road and convenient access within the surrounding corridor.

The property is situated in Indianapolis’s established Far Eastside retail area, near retail, dining, residential, and transportation amenities. Its location provides direct exposure to an active commercial setting, while the building’s scale supports a range of retail and service-oriented configurations, subject to zoning and applicable approvals.

Key Highlights

• 12,104‑square‑foot shopping center
• Built in 2005
• Located on N German Church Rd in Indianapolis, IN 46229

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,244

Cap Rate

7.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,604,880 $2.6M

Cap Rate 7%

$1,860,629 $1.9M

Cap Rate 9%

$1,447,156 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,104 SF

Gross rent

$203.3K $16.80/SF

− Vacancy

−$17.3K −$1.43/SF

EGI

$186.1K $15.37/SF

− OpEx

−$55.8K −$4.61/SF

NOI

$130.2K $10.76/SF

Area

Indianapolis, IN

Vacancy

8.50%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,604,880

Cap Rate 7%

$1,860,629

Cap Rate 9%

$1,447,156

Alternative Uses

Best Use

Retail

$1.86M

$1.63M – $2.17M (±1% cap)

NOI $130,244 @ 7.0% cap · market cap 7.04%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.01M

$2.64M – $3.52M (±1% cap)

NOI $210,900 @ 7.0% cap · market cap 11.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

El Tacotorro Restaurant Carniceria Mi Mexico Take-out & Catering

Suggested Use

Top Pick Real Estate Agency Restaurant Auto Repair Shop Pharmacy Gym & Fitness Center Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

62

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46229, IN

29,252

Population

12,046

Households

2.4

Avg Household Size

35

Median Age

26%

College-Educated

92%

High-School Grad

11.3 sq mi

ZIP Area

2,589

Density / Sq Mi

$62,982

Median Household Income

$40,407

Median Earnings

$1,020

Median Rent

$170,100

Median Home Value

Market

Vacancy Rate% for Retail in Indianapolis, IN

6.6% 2019

7.4% 2020

6.4% 2021

5% 2022

4.7% 2023

4.6% 2024

4.8% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Commercial footprint positioned near retail, dining, residential, and transportation amenities.

Where is this shopping center located?

The property is located at 2915 N German Church Rd Indianapolis, IN.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: 12,104‑square‑foot shopping center; Built in 2005; Located on N German Church Rd in Indianapolis, IN 46229