Downtown Indianapolis Restaurant
42 W South St, Indianapolis, IN 46225
For Sale
Contact for pricing
Turnkey restaurant for sale near Lucas Oil Stadium.
Property Size11,864 SF
Price / SF$164.36
Days on Market255
Property Features for 42 W South St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Stories
Listing Agency:
Midland Atlantic Properties - Indianapolis
Listed By:
Shawn Heffern
(317) 597-1715
Source:
Crexi
Added: Mar 5
Changed: Oct 31
Last Checked: Nov 12 at 5:50AM
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 Midland Atlantic Properties - Indianapolis
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Investment Insights
Based on property information with market context.
A restaurant opportunity is available for purchase in downtown Indianapolis, situated near Lucas Oil Stadium. The property encompasses 11,864 square feet and is suitable for restaurant, mixed-use, retail, and office purposes.
Key Highlights
- Turnkey Restaurant Opportunity
- Prime Downtown Indianapolis Location
- Steps Away From Lucas Oil Stadium
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,640
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,132,800
$3.1M
Cap Rate 7%
$2,237,714
$2.2M
Cap Rate 9%
$1,740,444
$1.7M
Market Conditions
NOI Build-Up for 11,864 SF
Gross rent
$256.3K $21.60/SF
− Vacancy
−$47.4K −$4.00/SF
EGI
$208.9K $17.60/SF
− OpEx
−$52.2K −$4.40/SF
NOI
$156.6K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,132,800
Cap Rate 7%
$2,237,714
Cap Rate 9%
$1,740,444
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.61M
NOI $156,640 @ 7.0% cap · market cap 8.03%
Second Best
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,152 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$2.95M
$2.58M – $3.45M
NOI $206,718 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,346
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46225, IN
6,503
Population
3,056
Households
2.1
Avg Household Size
35
Median Age
29%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
1,626
Density / Sq Mi
$47,917
Median Household Income
$36,132
Median Earnings
$1,104
Median Rent
$123,600
Median Home Value
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Market
Properties on Market for Restaurants in Indianapolis
Vacancy Rate% for Office in Indianapolis, IN
Similar Off Market Nearby
- The Crane Bay Event Center — 551 W Merrill St, Indianapolis, IN 46225
- Centerplate — 100 S Capitol Ave, Indianapolis, IN 46225
- Sushi Den — 233 S Delaware St, Indianapolis, IN 46204
- Encore Catering — 140 W Washington St, Indianapolis, IN 46204
- Abundance Catering LLC — Indianapolis, IN 46204
Frequently Asked Questions
What type of property is this?
Restaurant - Turnkey restaurant for sale near Lucas Oil Stadium.
Where is this restaurant located?
The property is located at 42 W South St Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Turnkey Restaurant Opportunity; Prime Downtown Indianapolis Location; Steps Away From Lucas Oil Stadium
