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Free-Standing Retail Building Indianapolis

505 E Thompson Rd. Indianapolis, IN 46227

505 E Thompson Rd., Indianapolis, IN, 46227
$2,100,000
For Sale
Claim this Listing
$2,100,000

10,125 SF retail building in thriving Indianapolis area.

Property Size10,125 SF
Price / SF$207.41
AddedMay 14
Days on Market63
Last RefreshJul 15 at 6:28 am

Property Features for 505 E Thompson Rd.

General Information

Standard status
Active
Size
10,125 SF
Property subtype
Retail

Building Details

Year Built
1999

Listing office Premier Commercial Real Estate Services, Inc.

Listing date May 14, 2026

Source Tcnworldwide

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.

Local Financial Insights For Retail

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 $222.3k $21.96
− Vacancy −$15.1k −$1.49
EGI $207.2k $20.47
− OpEx −$62.2k −$6.14
NOI $145.1k $14.33
10,125 SF · lease $21.96/SF/yr · vacancy 6.80% · expense 30.00%

Alternative Uses

Best Use
Retail
$2.07M
$1.81M – $2.42M (±1% cap)
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 (±1% cap)
NOI $176,122 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

CVS Photo (Bike/Boat/Book/etc) Store Coinhub Bitcoin ATM ... Atm Tad Itamura Pharmacy UPS Access Point ... Courier Service

Suggested Use

HVAC Service Real Estate Agency Daycare Center Bakery Garden Center Auto Parts Store (Bike/Boat/Book/etc) Store Gym & Fitness Center (Bike/Boat/Book/etc) Store Acupuncture

Zoning and permitted uses should be independently verified with local authorities.

FAQs

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.
Contact an agent
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