Renovated Light Industrial
For Sale
Contact for pricing
3940 Pendleton Way, Indianapolis, IN 46226
Fully leased, recently renovated light industrial building on 3.45 acres with 3.09-year WALT and access to I-465.
Property Size41,350 SF
Lot Size3.45 Acres
Days on Market328
Property Features for 3940 Pendleton Way
General Information
Standard status
Active
Size
41,350 SF
Lot size
3.45 Acres
Property subtype
FLEX_R_AND_D
Occupancy
100%
Site & Location
Neighborhood
Arlington Woods
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Colliers
(317) 713-2100
Listed By:
Alex Davenport
(317) 556-3676
Source:
Moodyscre
Added: Dec 4, 2025
Changed: Oct 26
Last Checked: Oct 26 at 7:14PM
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 Colliers
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Investment Insights
Based on property information with market context.
This infill light industrial building offers 41,350 square feet on 3.45 acres. The recently renovated property is fully leased to five tenants and reports a 3.09-year WALT. Rent rolls indicate rents averaging 21% below market.
Located in Indianapolis’ East submarket, the asset provides immediate access to I-465.
Designed for durable cash flow, the building’s current occupancy and renovation support ongoing tenant stability while offering room for improvement through above-market leasing outcomes.
Located in Indianapolis’ East submarket, the asset provides immediate access to I-465.
Designed for durable cash flow, the building’s current occupancy and renovation support ongoing tenant stability while offering room for improvement through above-market leasing outcomes.
Key Highlights
- 41,350 SF infill light industrial building on 3.45 acres in Indianapolis’ East submarket
- Fully leased to five tenants with a 3.09‑year WALT
- Recently renovated asset
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46226, IN
43,997
Population
21,380
Households
2.1
Avg Household Size
35
Median Age
24%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
2,973
Density / Sq Mi
$47,086
Median Household Income
$34,225
Median Earnings
$1,045
Median Rent
$148,900
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Flex space - Fully leased, recently renovated light industrial building on 3.45 acres with 3.09-year WALT and access to I-465.
Where is this flex space located?
The property is located at 3940 Pendleton Way Indianapolis, IN.
What are key features of this property?
This property features: 41,350 SF infill light industrial building on 3.45 acres in Indianapolis’ East submarket; Fully leased to five tenants with a 3.09‑year WALT; Recently renovated asset
