3216 S KEYSTONE AVE, Indianapolis, IN 46237

Building Details

Year Built 1967 More

Buildings 1 More

Stories 1 More

Units 1 More

Listing Agency: Keller Williams Indy Metro South

Listed By: Josh Moss, SIOR · License IN RB14039981 Show Phone

Source: Crexi

Added: Aug 4 Changed: Oct 26 Last Checked: Nov 8 at 7:22AM

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Investment Insights

Based on property information with market context.

This former auto shop property includes a fenced lot and improvements constructed in 1967. The asset is located at 3216 S Keystone Ave in Indianapolis, Indiana 46237.

Key Highlights

• Former auto shop property
• Fenced lot
• Improvements constructed in 1967

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,427

Cap Rate

3.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$328,540 $328.5K

Cap Rate 7%

$234,671 $234.7K

Cap Rate 9%

$182,522 $182.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$25.7K $18.36/SF

− Vacancy

−$2.2K −$1.60/SF

EGI

$23.5K $16.76/SF

− OpEx

−$7.0K −$5.03/SF

NOI

$16.4K $11.73/SF

Area

ZIP 46237

Vacancy

8.70%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$328,540

Cap Rate 7%

$234,671

Cap Rate 9%

$182,522

Alternative Uses

Best Use

Industrial

$234.7K

$205.3K – $273.8K (±1% cap)

NOI $16,427 @ 7.0% cap · market cap 3.29%

Second Best

Retail

$208.0K

$182.0K – $242.6K (±1% cap)

NOI $14,558 @ 7.0% cap · market cap 2.91%

Theoretical Best

Office A

$329.8K

$288.6K – $384.8K (±1% cap)

NOI $23,087 @ 7.0% cap · market cap 4.62%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Allen's Mobile Auto ... Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Spa & Massage Center Nail Salon Building Supply

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

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

297

Businesses Nearby

51k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 66% Dining 26% Hotels & Casinos 4% Beauty & Spa 2%

Speedway Shops & Services

21,963 visits/mo 0.4 miles

Denny's Dining

13,271 visits/mo 0.3 miles

BP Shops & Services

7,342 visits/mo 0.1 miles

Marathon Petroleum Shops & Services

4,637 visits/mo 0.3 miles

Comfort Inn Hotels & Casinos

2,005 visits/mo 0.3 miles

Demographics for 46237, IN

44,378

Population

17,660

Households

2.5

Avg Household Size

36

Median Age

34%

College-Educated

89%

High-School Grad

14.7 sq mi

ZIP Area

3,019

Density / Sq Mi

$76,676

Median Household Income

$47,742

Median Earnings

$1,272

Median Rent

$216,300

Median Home Value

Market

Properties on Market for Auto shops in Indianapolis

Jul

Aug

Sep

Oct

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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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Auto shop - The property includes a fenced lot and improvements constructed in 1967.

Where is this auto shop located?

The property is located at 3216 S KEYSTONE AVE Indianapolis, IN.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Former auto shop property; Fenced lot; Improvements constructed in 1967