Retail Building with Private
3040 N Sherman Drive Indianapolis, IN 46218
3040 N Sherman Drive, Indianapolis, IN, 46218
$275,000
For Sale
$275,000
Standalone retail building with private parking, a large overhead door, and flexible interior currently used as a barber/beauty shop.
Property Size2,094 SF
Price / SF$131.33
Days on Market374
Property Features for 3040 N Sherman Drive
General Information
- Standard status
- Active
- Size
- 2,094 SF
- Property subtype
- Retail
Listing agency
F.C. Tucker Company
(317) 989-5613
Listed by
Sarah Fishburn · License #RB19001567
(317) 989-5613
Source
Xome
Added: Jul 13, 2025 Updated: Jul 21 at 1:35PM Checked: Jul 21 at 1:35PM
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 F.C. Tucker Company
Investment Insights
Based on property information with market context.
This retail building is currently operating as a barber shop and beauty shop and offers flexible interior space to support a range of commercial uses. The property includes a large overhead door and dedicated storage areas, providing practical back-of-house utility for many retail and personal-service layouts.
Located at 3040 N Sherman Drive, the site sits just north of 30th Street in the Sherman Drive corridor. The property benefits from a private parking lot for customer and employee parking.
Zoning is C3 on the building, with an adjacent lot zoned D5, supporting additional versatility for retail and other commercial opportunities described in the listing.
Located at 3040 N Sherman Drive, the site sits just north of 30th Street in the Sherman Drive corridor. The property benefits from a private parking lot for customer and employee parking.
Zoning is C3 on the building, with an adjacent lot zoned D5, supporting additional versatility for retail and other commercial opportunities described in the listing.
Key Highlights
- Standalone commercial building on Sherman Drive just north of 30th Street
- Currently operating as a barber shop and beauty shop with flexible interior space
- Large overhead door plus dedicated storage areas
Local Financial Insights For Retail
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 | $35.2k | $16.80 |
| − Vacancy | −$3.0k | −$1.43 |
| EGI | $32.2k | $15.37 |
| − OpEx | −$9.7k | −$4.61 |
| NOI | $22.5k | $10.76 |
2,094 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$321.9K
$281.7K – $375.5K
NOI $22,532 @ 7.0% cap · market cap 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$521.2K
$456.1K – $608.1K
NOI $36,486 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - Standalone retail building with private parking, a large overhead door, and flexible interior currently used as a barber/beauty shop.
Where is this storefront property located?
The property is located at 3040 N Sherman Drive Indianapolis, IN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Standalone commercial building on Sherman Drive just north of 30th Street; Currently operating as a barber shop and beauty shop with flexible interior space; Large overhead door plus dedicated storage areas
