Corner Flex Property With
For Sale
$355,000
4700-4702 Southeastern Avenue, Indianapolis, IN 46203
Office, shop, and storage improvements combine with secured outdoor space along a heavily traveled commercial corridor.
Property Size5,265 SF
Lot Size0.70 Acres
Price / SF$67.43
Days on Market294
Property Features for 4700-4702 Southeastern Avenue
General Information
Standard status
Active
Size
5,265 SF
Lot size
0.70 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Amenities
security camera system
3
Security Lighting.
Building Details
Year Renovated
2024
Building Size
5,265 SF
Listing Agency:
Keller Williams Indy Metro S
(317) 443-5016
Listed By:
Michael Huff · License #RB14047252
(317) 443-5016
Source:
Xome
Added: Nov 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:24AM
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 Keller Williams Indy Metro S
Investment Insights
Based on property information with market context.
This flex property combines 5,265 SF of office, shop, and storage improvements across two adjoining corner parcels totaling 0.7 acres. The site includes yard and parking areas, perimeter fencing across most of the property, security lighting, and a monitored private camera system. A permanent D-3 zoning variance authorizes automotive repair use.
Located at 4700-4702 Southeastern Avenue in Indianapolis, the property fronts a corridor carrying 8,798 vehicles per day and provides a connection between I-465 and Downtown Indianapolis. The surrounding area includes commercial, light industrial, and residential uses. Building updates include a new membrane roof, gutters, downspouts, and skylights installed on the primary structure in 2024. Rubber roofs were added in 2017 to the 1,935 SF storage section and the 1,444 SF building.
Located at 4700-4702 Southeastern Avenue in Indianapolis, the property fronts a corridor carrying 8,798 vehicles per day and provides a connection between I-465 and Downtown Indianapolis. The surrounding area includes commercial, light industrial, and residential uses. Building updates include a new membrane roof, gutters, downspouts, and skylights installed on the primary structure in 2024. Rubber roofs were added in 2017 to the 1,935 SF storage section and the 1,444 SF building.
Key Highlights
- 5,265 SF of office, shop, and storage improvements on 0.7 acres
- Two adjoining corner parcels at 4700‑4702 Southeastern Avenue
- Southeastern Avenue traffic volume of 8,798 vehicles/day
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
$31,870
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
8.98%
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%
$637,400
$637.4K
Cap Rate 7%
$455,286
$455.3K
Cap Rate 9%
$354,111
$354.1K
Market Conditions
NOI Build-Up for 5,265 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
$41.1K $7.80/SF
− Vacancy
−$3.6K −$0.68/SF
EGI
$37.5K $7.12/SF
− OpEx
−$5.6K −$1.07/SF
NOI
$31.9K $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%
$637,400
Cap Rate 7%
$455,286
Cap Rate 9%
$354,111
Alternative Uses
Best Use
Office B
$993.1K
$868.9K – $1.16M
NOI $69,514 @ 7.0% cap · market cap 19.58%
Second Best
Retail
$809.3K
$708.2K – $944.2K
NOI $56,654 @ 7.0% cap · market cap 15.96%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,737 @ 7.0% cap · market cap 25.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Portia's Mobile Bartending — 3960 Southeastern Ave #1, Indianapolis, IN 46203
Frequently Asked Questions
What type of property is this?
Flex space - Office, shop, and storage improvements combine with secured outdoor space along a heavily traveled commercial corridor.
Where is this flex space located?
The property is located at 4700-4702 Southeastern Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 5,265 SF of office, shop, and storage improvements on 0.7 acres; Two adjoining corner parcels at 4700‑4702 Southeastern Avenue; Southeastern Avenue traffic volume of 8,798 vehicles/day
