Restaurant Building with On-Site
4740 E Southport Rd., Indianapolis, IN 46237
For Sale
Contact for pricing
Second-generation restaurant improvements occupy an outlot within Southport Commons.
Property Size5,659 SF
Lot Size1.18 Acres
Price / SF$387.88
Days on Market20
Property Features for 4740 E Southport Rd.
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Building Details
Buildings
Listing Agency:
Meta CRE LLC
Listed By:
James Cloud · License IN RB22002394
Source:
Crexi
Added: Oct 22
Changed: Nov 8
Last Checked: Nov 10 at 8:42AM
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 Meta CRE LLC
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Investment Insights
Based on property information with market context.
The 5,659-square-foot restaurant building sits on 1.18 acres and includes 101 parking spaces. The property is at 4740 E. Southport Rd. in Indianapolis, with an existing restaurant configuration and on-site parking.
The site occupies an outlot at Southport Commons, a 508,000-square-foot power center anchored by Target, Home Depot, and Kohl's. It is positioned along the I-65 corridor. The tenant's lease runs through March 2029, subject to the landlord's right to recapture the premises with 180 days' notice.
The site occupies an outlot at Southport Commons, a 508,000-square-foot power center anchored by Target, Home Depot, and Kohl's. It is positioned along the I-65 corridor. The tenant's lease runs through March 2029, subject to the landlord's right to recapture the premises with 180 days' notice.
Key Highlights
- 5,659‑square‑foot restaurant building on 1.18 acres
- 101 parking spaces
- Outlot at Southport Commons, a 508,000‑square‑foot power center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,680
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,373,600
$1.4M
Cap Rate 7%
$981,143
$981.1K
Cap Rate 9%
$763,111
$763.1K
Market Conditions
NOI Build-Up for 5,659 SF
Gross rent
$98.5K $17.40/SF
− Vacancy
−$6.9K −$1.22/SF
EGI
$91.6K $16.18/SF
− OpEx
−$22.9K −$4.05/SF
NOI
$68.7K $12.14/SF
Area
ZIP 46237
Vacancy
7.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,373,600
Cap Rate 7%
$981,143
Cap Rate 9%
$763,111
Alternative Uses
Best Use
Specialty Retail
$981.1K
$858.5K – $1.14M
NOI $68,680 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,322 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 46237, IN
44,378
Population
17,660
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
89%
High-School Grad
14.7 sq mi
ZIP Area
3,019
Density / Sq Mi
$76,676
Median Household Income
$47,742
Median Earnings
$1,272
Median Rent
$216,300
Median Home Value
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Market
Properties on Market for Conventional restaurants in Indianapolis
Vacancy Rate% for Retail in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Second-generation restaurant improvements occupy an outlot within Southport Commons.
Where is this conventional restaurant located?
The property is located at 4740 E Southport Rd. Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 5,659‑square‑foot restaurant building on 1.18 acres; 101 parking spaces; Outlot at Southport Commons, a 508,000‑square‑foot power center
