Flex Showroom Retail
3301 S E ST Indianapolis, IN 46228
3301 S E ST, Indianapolis, IN, 46228
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For Sale
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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 Market54
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
Building Details
- Year Built
- 1953
Listing agency
Harshman Property Services LLC
Listed by
Larry Harshman · License #RB14030305
Source
Crexi
Added: May 29 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 9:25AM
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
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
Local Financial Insights For Industrial
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 | $132.4k | $7.80 |
| − Vacancy | −$11.5k | −$0.68 |
| EGI | $120.9k | $7.12 |
| − OpEx | −$36.3k | −$2.14 |
| NOI | $84.6k | $4.98 |
16,979 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
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
