Flex Industrial Property with
4700-4702 Southeastern Avenue Indianapolis, IN 46203
For Sale
$319,000
Pending
SINGLE_FAMILY - Indianapolis, IN
Property Size5,265 SF
Lot Size0.70 Acres
Days on Market258
Property Features for 4700-4702 Southeastern Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
Various
Security features
Security Lighting
Fencing
Chain Link, Gate
Standard status
Pending
APN
491016126008000101
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
92.50Ft S Line 175Ft E Line Beg 890Ft W Of Secor Nw1-4 Ne1-4 S16 T15 R4 0.54Ac
Building Details
Roof type
Membrane, Rubber
Listing Agency:
Keller Williams Indy Metro S
(317) 882-5900
Listed By:
Michael Huff · License #RB14047252
(317) 882-5900
Added: Nov 13, 2025
Changed: Jul 28
Last Checked: Jul 29 at 1:06PM
MLS# 22071263
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
4700–4702 Southeastern Avenue is an owner-occupied style flex industrial property comprising two adjoining high-visibility corner parcels on 0.7 acres, with approximately 5,265 SF of office, shop, and storage improvements. The site includes ample yard and parking and has operated as a contractor’s office and service facility for more than 50 years.
The property sits along Southeastern Avenue, described as a well-traveled corridor connecting I-465 and Downtown Indianapolis, with traffic noted at approximately 8,798 vehicles per day. The site includes a permanent zoning variance (D-3 variance) authorizing automotive repair use, and City of Indianapolis staff indicated that C-3 zoning would likely be supported upon application.
In 2024, the owner invested over $42,000 in major building upgrades, including a new membrane roof, gutters, downspouts, and skylights on the primary structure, with a transferable 20-year manufacturer’s warranty. Additional improvements include rubber roof replacements completed in 2017 for the 1,935 SF storage section at 4702 and the 1,444 SF building at 4700. The property is secured by a private security camera system monitored by Indiana Alarm and perimeter security fencing covering most of the site.
The property sits along Southeastern Avenue, described as a well-traveled corridor connecting I-465 and Downtown Indianapolis, with traffic noted at approximately 8,798 vehicles per day. The site includes a permanent zoning variance (D-3 variance) authorizing automotive repair use, and City of Indianapolis staff indicated that C-3 zoning would likely be supported upon application.
In 2024, the owner invested over $42,000 in major building upgrades, including a new membrane roof, gutters, downspouts, and skylights on the primary structure, with a transferable 20-year manufacturer’s warranty. Additional improvements include rubber roof replacements completed in 2017 for the 1,935 SF storage section at 4702 and the 1,444 SF building at 4700. The property is secured by a private security camera system monitored by Indiana Alarm and perimeter security fencing covering most of the site.
Key Highlights
- 4700–4702 Southeastern Ave Indianapolis on 0.7 acres with two adjoining high‑visibility corner parcels
- 5,265 SF of improvements with office, shop, and storage, plus ample yard and parking space
- Automotive repair use supported by permanent zoning variance (D‑3 Variance); C‑3 zoning likely supported upon application per staff
Financial Insights For Industrial
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 | $41.1k | $7.80 |
| − Vacancy | −$3.6k | −$0.68 |
| EGI | $37.5k | $7.12 |
| − OpEx | −$11.2k | −$2.14 |
| NOI | $26.2k | $4.98 |
5,265 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 30.00%
Alternative Uses
Best Use
Office B
$993.1K
$868.9K – $1.16M
NOI $69,514 @ 7.0% cap · market cap 21.79%
Second Best
Flex RnD
$739.2K
$646.8K – $862.4K
NOI $51,744 @ 7.0% cap · market cap 16.22%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,737 @ 7.0% cap · market cap 28.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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 - Adjoining corner parcels with office, shop, and storage improvements plus ample yard and parking along Southeastern Avenue.
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 $319,000.
What are key features of this property?
This property features: 4700–4702 Southeastern Ave Indianapolis on 0.7 acres with two adjoining high‑visibility corner parcels; 5,265 SF of improvements with office, shop, and storage, plus ample yard and parking space; Automotive repair use supported by permanent zoning variance (D‑3 Variance); C‑3 zoning likely supported upon application per staff
