Flex Showroom Retail
For Sale
Contact for pricing
3301 S E ST, Indianapolis, IN 46228
Single-story flex, showroom, and retail building with Madison Avenue and S. East Street frontage in Indianapolis.
Property Size16,979 SF
Lot Size1.24 Acres
Price / SF$64.79
Days on Market141
Property Features for 3301 S E ST
General Information
Standard status
Active
Size
16,979 SF
Lot size
1.24 Acres
Property subtype
Retail, Industrial
Zoning
C5 (and parking lot is C7)
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1953
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Harshman Property Services LLC
Listed By:
Larry Harshman · License #RB14030305
Source:
Crexi
Added: May 29
Changed: Oct 11
Last Checked: Oct 14 at 10:51PM
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 Harshman Property Services LLC
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Investment Insights
Based on property information with market context.
This property is a 16,979-square-foot, one-story flex/showroom/retail building positioned on 1.24 acres. The space is configured for a commercial showroom and retail use, supporting a straightforward layout for businesses that want a street-facing presentation.
The building has frontage along Madison Avenue and S. East Street and is located in the Gateway South District of Indianapolis. An existing lease is in place with First Cash Pawn (National tenant), providing an occupied arrangement for an investor or owner-operator seeking income potential tied to the current tenancy.
For tenants and buyers, the combination of flex-style space and storefront retail usage can support a range of retail and service concepts that benefit from direct access and visible street exposure. The one-story configuration may also simplify customer access and operations compared with multi-level formats. With the property already operating under an active lease, it may be best suited for an ownership transition that accommodates the current tenant’s presence while planning for future use or continued occupancy.
The building has frontage along Madison Avenue and S. East Street and is located in the Gateway South District of Indianapolis. An existing lease is in place with First Cash Pawn (National tenant), providing an occupied arrangement for an investor or owner-operator seeking income potential tied to the current tenancy.
For tenants and buyers, the combination of flex-style space and storefront retail usage can support a range of retail and service concepts that benefit from direct access and visible street exposure. The one-story configuration may also simplify customer access and operations compared with multi-level formats. With the property already operating under an active lease, it may be best suited for an ownership transition that accommodates the current tenant’s presence while planning for future use or continued occupancy.
Key Highlights
- 16,979 SF one‑story flex/showroom/retail building
- Located on 1.24 acres with frontage along Madison Avenue and S. East Street
- Gateway South District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,640
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,692,800
$1.7M
Cap Rate 7%
$1,209,143
$1.2M
Cap Rate 9%
$940,444
$940.4K
Market Conditions
NOI Build-Up for 16,979 SF
Gross rent
$132.4K $7.80/SF
− Vacancy
−$11.5K −$0.68/SF
EGI
$120.9K $7.12/SF
− OpEx
−$36.3K −$2.14/SF
NOI
$84.6K $4.98/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,692,800
Cap Rate 7%
$1,209,143
Cap Rate 9%
$940,444
Alternative Uses
Best Use
Retail
$2.61M
$2.28M – $3.05M
NOI $182,701 @ 7.0% cap · market cap 16.61%
Second Best
Flex RnD
$2.38M
$2.09M – $2.78M
NOI $166,870 @ 7.0% cap · market cap 15.17%
Theoretical Best
Office A
$4.23M
$3.70M – $4.93M
NOI $295,842 @ 7.0% cap · market cap 26.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46228, IN
15,824
Population
6,242
Households
2.5
Avg Household Size
40
Median Age
48%
College-Educated
93%
High-School Grad
7.9 sq mi
ZIP Area
2,003
Density / Sq Mi
$95,574
Median Household Income
$40,571
Median Earnings
$1,234
Median Rent
$241,400
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 - Single-story flex, showroom, and retail building with Madison Avenue and S. East Street frontage in Indianapolis.
Where is this flex space located?
The property is located at 3301 S E ST Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 16,979 SF one‑story flex/showroom/retail building; Located on 1.24 acres with frontage along Madison Avenue and S. East Street; Gateway South District
