Office Warehouse with Fenced
For Sale
Contact for pricing
3235 N EMERSON AVE, Indianapolis, IN 46218
Office and warehouse space includes 15-foot clear height, a drive-in overhead door, and a secured fenced yard.
Property Size14,246 SF
Lot Size2.03 Acres
Price / SF$147.41
Days on Market117
Property Features for 3235 N EMERSON AVE
General Information
Standard status
Active
Size
14,246 SF
Lot size
2.03 Acres
Property subtype
Industrial
Investment Type
Owner/User
Site & Location
Neighborhood
Arlington Woods
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
1
Building Details
Year Built
1958
Stories
1
Units
1
Listing Agency:
RP Lux Company
Listed By:
Stephen Flanagan · License #IN rb16001253
Source:
Crexi
Added: Jun 30
Changed: Oct 10
Last Checked: Oct 23 at 4:07AM
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 RP Lux Company
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Investment Insights
Based on property information with market context.
This office/warehouse facility combines a finished office environment with functional warehouse space designed for light industrial and equipment-focused operations. The warehouse offers 15-foot clear height (18 feet to the deck) and includes a drive-in overhead door. A secured fenced yard supports outdoor storage, and an expansive paved site provides areas for parking and equipment or fleet vehicle storage. The office portion features 8.5-foot finished ceilings (9.5 feet to the deck) and includes a new HVAC system.
The property is located on Indianapolis’ east side with quick access to I-70, I-465, and Downtown Indianapolis, supporting regional connectivity for employees, customers, and logistics.
Immediate occupancy is available, making the space suitable for an owner-user or investor seeking a flexible office/warehouse configuration with outdoor storage capabilities.
The property is located on Indianapolis’ east side with quick access to I-70, I-465, and Downtown Indianapolis, supporting regional connectivity for employees, customers, and logistics.
Immediate occupancy is available, making the space suitable for an owner-user or investor seeking a flexible office/warehouse configuration with outdoor storage capabilities.
Key Highlights
- Office/warehouse facility built in 1958 with 14,246 SF on approx. 2.03 acres
- Warehouse offers 15‑foot clear height (18 feet to the deck) plus a drive‑in overhead door
- Secured fenced yard with outdoor storage capability for equipment and material staging
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,010
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,800,200
$2.8M
Cap Rate 7%
$2,000,143
$2.0M
Cap Rate 9%
$1,555,667
$1.6M
Market Conditions
NOI Build-Up for 14,246 SF
Gross rent
$239.3K $16.80/SF
− Vacancy
−$23.9K −$1.68/SF
EGI
$215.4K $15.12/SF
− OpEx
−$75.4K −$5.29/SF
NOI
$140.0K $9.83/SF
Area
Indianapolis, IN
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,800,200
Cap Rate 7%
$2,000,143
Cap Rate 9%
$1,555,667
Alternative Uses
Best Use
Flex RnD
$2.00M
$1.75M – $2.33M
NOI $140,010 @ 7.0% cap · market cap 6.67%
Second Best
Warehouse
$1.23M
$1.08M – $1.44M
NOI $86,234 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$3.55M
$3.10M – $4.14M
NOI $248,222 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46218, IN
30,400
Population
15,343
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
9.5 sq mi
ZIP Area
3,200
Density / Sq Mi
$34,635
Median Household Income
$29,745
Median Earnings
$1,056
Median Rent
$90,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse space includes 15-foot clear height, a drive-in overhead door, and a secured fenced yard.
Where is this flex space located?
The property is located at 3235 N EMERSON AVE Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Office/warehouse facility built in 1958 with 14,246 SF on approx. 2.03 acres; Warehouse offers 15‑foot clear height (18 feet to the deck) plus a drive‑in overhead door; Secured fenced yard with outdoor storage capability for equipment and material staging
