Free-Standing Retail Building
For Sale
$2,100,000
505 E Thompson Rd., Indianapolis, IN 46227
10,125 SF retail building in thriving Indianapolis area.
Property Size10,125 SF
Price / SF$207.41
Days on Market154
Property Features for 505 E Thompson Rd.
General Information
Standard status
Active
Size
10,125 SF
Property subtype
Retail
Building Details
Building Size
10,125 SF
Year Built
1999
Listing Agency:
Premier Commercial Real Estate Services, Inc.
Listed By:
Matt Ferguson · License #RB17000936
(317) 679-4046
Source:
Tcnworldwide
Added: May 14
Changed: Oct 2
Last Checked: Oct 12 at 6:23PM
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 Premier Commercial Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This 10,125 square foot free-standing building, constructed in 1999, is located in Indianapolis. The property is zoned ZO01, making it suitable for a range of retail uses or adaptive redevelopments. The building features a spacious interior with a versatile layout, high visibility, and a prominent facade. It has a proven retail history in an established area and includes pylon signage and a drive-thru. This property is suitable for retail investors.
Key Highlights
- High‑visibility location in the thriving Indianapolis area.
- Spacious 10,125 SF free‑standing building with versatile layout.
- Zoned ZO01, ideal for a wide range of retail uses or adaptive redevelopments.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,058
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,901,160
$2.9M
Cap Rate 7%
$2,072,257
$2.1M
Cap Rate 9%
$1,611,756
$1.6M
Market Conditions
NOI Build-Up for 10,125 SF
Gross rent
$222.3K $21.96/SF
− Vacancy
−$15.1K −$1.49/SF
EGI
$207.2K $20.47/SF
− OpEx
−$62.2K −$6.14/SF
NOI
$145.1K $14.33/SF
Area
ZIP 46227
Vacancy
6.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,901,160
Cap Rate 7%
$2,072,257
Cap Rate 9%
$1,611,756
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.42M
NOI $145,058 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,122 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46227, IN
62,126
Population
26,411
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
83%
High-School Grad
16.7 sq mi
ZIP Area
3,720
Density / Sq Mi
$50,993
Median Household Income
$35,591
Median Earnings
$994
Median Rent
$192,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - 10,125 SF retail building in thriving Indianapolis area.
Where is this storefront property located?
The property is located at 505 E Thompson Rd. Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: High‑visibility location in the thriving Indianapolis area.; Spacious 10,125 SF free‑standing building with versatile layout.; Zoned ZO01, ideal for a wide range of retail uses or adaptive redevelopments.
