Vacant Retail Redevelopment
4173 North Keystone Avenue Indianapolis, IN 46205
4173 North Keystone Avenue, Indianapolis, IN, 46205
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For Sale
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Vacant 3,479 SF retail building on a 0.89-acre parcel with excess outdoor land and C5 zoning for multiple commercial uses.
Property Size3,479 SF
Lot Size0.89 Acres
Price / SF$201.21
Days on Market92
Property Features for 4173 North Keystone Avenue
General Information
- Standard status
- Active
- Size
- 3,479 SF
- Lot size
- 0.89 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1971
Listing agency
Matthews
Listed by
Samuel Griffeth · License #SA704287000
Source
Crexi
Added: Apr 22 Updated: Jul 22 at 5:31PM Checked: Jul 22 at 5:31PM
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 Matthews
Investment Insights
Based on property information with market context.
This property is a vacant retail building totaling 3,479 SF on a 0.89-acre parcel, offering an owner-user or redevelopment path. Existing improvements cover only a small portion of the site, leaving substantial excess land that may support outdoor storage, expansion, or site reconfiguration. The building size is positioned for service retail, automotive users, showroom concepts, or adaptive reuse.
Located at 4173 North Keystone Avenue along a highly trafficked corridor, the site provides visibility and convenient access to surrounding neighborhoods and businesses. The property is zoned C5 (Indianapolis), which supports a wide range of commercial uses, including automotive, retail, service, and redevelopment activity.
With low site coverage and a larger land area, the parcel is well suited to plans that rely on outdoor space such as storage and/or parking, while still accommodating future building renovations or repositioning.
Located at 4173 North Keystone Avenue along a highly trafficked corridor, the site provides visibility and convenient access to surrounding neighborhoods and businesses. The property is zoned C5 (Indianapolis), which supports a wide range of commercial uses, including automotive, retail, service, and redevelopment activity.
With low site coverage and a larger land area, the parcel is well suited to plans that rely on outdoor space such as storage and/or parking, while still accommodating future building renovations or repositioning.
Key Highlights
- Vacant 3,479 SF building on a 0.89‑acre parcel (Year Built: 1971)
- Zoned C5 (Indianapolis) with flexibility for commercial uses including automotive, retail, service, and redevelopment
- Low site coverage with existing improvements covering only a small portion of the site for excess outdoor land
Local Financial Insights For Retail
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 | $58.4k | $16.80 |
| − Vacancy | −$5.0k | −$1.43 |
| EGI | $53.5k | $15.37 |
| − OpEx | −$16.0k | −$4.61 |
| NOI | $37.4k | $10.76 |
3,479 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$534.8K
$467.9K – $623.9K
NOI $37,435 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.0K
$757.7K – $1.01M
NOI $60,618 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Restauracion Body Shop
Auto Repair Shop
Auto Wise
Auto Repair Shop
Pigua’s Garage
Auto Repair Shop
MotoWise dealership
Car Dealership
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Vacant 3,479 SF retail building on a 0.89-acre parcel with excess outdoor land and C5 zoning for multiple commercial uses.
Where is this retail space located?
The property is located at 4173 North Keystone Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Vacant 3,479 SF building on a 0.89‑acre parcel (Year Built: 1971); Zoned C5 (Indianapolis) with flexibility for commercial uses including automotive, retail, service, and redevelopment; Low site coverage with existing improvements covering only a small portion of the site for excess outdoor land
