Manufacturing Property with Drive-In
New
For Sale
$1,075,000
3369 Boulevard Place, Indianapolis, IN 46208
Warehouse improvements include office areas, dedicated parking, and additional parcels behind the building.
Property Size8,016 SF
Lot Size0.54 Acres
Price / SF$134.11
Days on Market3
Property Features for 3369 Boulevard Place
General Information
Standard status
Active
Size
8,016 SF
Class
B
Lot size
0.54 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Building Size
8,016 SF
Year Built
1967
Buildings
1
Properties For Sale
at 3369 Boulevard Place Contact us- Size
- 8,016 SF
- Lease Type
- NNN
North Side 3-Parcel Industrial Opportunity
Listing Agency:
SVN | Northern Commercial
(317) 843-8448
Listed By:
Jess Lawhead · License #IN RB14047741
(317) 843-8448
Source:
Thebrokerlist
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 6:13PM
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 SVN | Northern Commercial
Investment Insights
Based on property information with market context.
This manufacturing property combines an 8,016-square-foot warehouse with supporting land for operational flexibility. The 0.32-acre parcel contains a building suited to manufacturing and assembly, with ceiling heights reaching 16 feet, several office areas, a 10-foot drive-in door, and dedicated on-site parking. Two additional 0.11-acre parcels sit immediately behind the warehouse and can accommodate parking, outdoor storage, another building, or expansion.
The property is located at 3369 Boulevard Place on Indianapolis’s north side, with access to I-65, I-70, and North Keystone Avenue. Downtown Indianapolis, Broad Ripple, Meridian-Kessler, and nearby retail, restaurants, and services are accessible from the site. The building was constructed in 1967.
The property is located at 3369 Boulevard Place on Indianapolis’s north side, with access to I-65, I-70, and North Keystone Avenue. Downtown Indianapolis, Broad Ripple, Meridian-Kessler, and nearby retail, restaurants, and services are accessible from the site. The building was constructed in 1967.
Key Highlights
- 8,016 SF warehouse on a 0.32‑acre parcel
- Two additional 0.11‑acre parcels directly behind the building
- Ceiling heights reach 16 feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,522
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$970,440
$970.4K
Cap Rate 7%
$693,171
$693.2K
Cap Rate 9%
$539,133
$539.1K
Market Conditions
NOI Build-Up for 8,016 SF
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.
Gross rent
$62.5K $7.80/SF
− Vacancy
−$5.4K −$0.68/SF
EGI
$57.1K $7.12/SF
− OpEx
−$8.6K −$1.07/SF
NOI
$48.5K $6.05/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$970,440
Cap Rate 7%
$693,171
Cap Rate 9%
$539,133
Alternative Uses
Best Use
Warehouse
$693.2K
$606.5K – $808.7K
NOI $48,522 @ 7.0% cap · market cap 4.51%
Second Best
Industrial
$570.9K
$499.5K – $666.0K
NOI $39,960 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,671 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 46208, IN
23,996
Population
11,619
Households
2.1
Avg Household Size
31
Median Age
40%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
3,478
Density / Sq Mi
$55,435
Median Household Income
$34,125
Median Earnings
$1,075
Median Rent
$206,000
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Warehouse improvements include office areas, dedicated parking, and additional parcels behind the building.
Where is this manufacturing property located?
The property is located at 3369 Boulevard Place Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 8,016 SF warehouse on a 0.32‑acre parcel; Two additional 0.11‑acre parcels directly behind the building; Ceiling heights reach 16 feet
