Automotive Dealership
For Sale
$2,000,000
5155 W Pike Plaza Rd, Indianapolis, IN 46254
Automotive dealership property with a large dealership facility, secondary building, and extensive vehicle display capacity.
Property Size15,084 SF
Days on Market93
Property Features for 5155 W Pike Plaza Rd
General Information
Standard status
Active
Size
15,084 SF
Property subtype
Retail
Building Details
Building Size
15,084 SF
Year Built
1989
Listing Agency:
eXp Commercial
Listed By:
Michael Marlin · License #IN #RB18001271
(317) 730-3848
Source:
7s
Added: Jul 20
Changed: Oct 5
Last Checked: Oct 19 at 4:18AM
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 eXp Commercial
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Investment Insights
Based on property information with market context.
This automotive property offers a mix of dealership and secondary-use space on 4.23 acres. The site includes an 11,709-square-foot dealership facility along with a 3,375-square-foot secondary building, supporting flexible operational layouts. The property is currently operating as a Mitsubishi dealership, and buyers may be able to purchase the real estate separately or acquire both the franchise and real estate, subject to manufacturer approval. If the franchise does relocate, the property is also available for lease.
The property provides showroom and service infrastructure, along with extensive vehicle display capacity. With additional room for expansion and the potential for complementary commercial uses, the site can support a range of automotive and related operating requirements.
The property provides showroom and service infrastructure, along with extensive vehicle display capacity. With additional room for expansion and the potential for complementary commercial uses, the site can support a range of automotive and related operating requirements.
Key Highlights
- 4.23‑acre automotive property with a 11,709 SF dealership facility and a 3,375 SF secondary building
- Year built 2005, currently operating as a Mitsubishi dealership
- Buy the real estate only or buy both the dealership franchise and real estate (subject to manufacturer approval)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,193
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,503,860
$1.5M
Cap Rate 7%
$1,074,186
$1.1M
Cap Rate 9%
$835,478
$835.5K
Market Conditions
NOI Build-Up for 15,084 SF
Gross rent
$117.7K $7.80/SF
− Vacancy
−$10.2K −$0.68/SF
EGI
$107.4K $7.12/SF
− OpEx
−$32.2K −$2.14/SF
NOI
$75.2K $4.98/SF
Area
ZIP 46254
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,503,860
Cap Rate 7%
$1,074,186
Cap Rate 9%
$835,478
Alternative Uses
Best Use
Retail
$2.74M
$2.40M – $3.20M
NOI $192,130 @ 7.0% cap · market cap 9.61%
Second Best
Industrial
$1.07M
$939.9K – $1.25M
NOI $75,193 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,207 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46254, IN
40,162
Population
17,955
Households
2.2
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,187
Density / Sq Mi
$57,825
Median Household Income
$36,883
Median Earnings
$1,021
Median Rent
$175,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Indianapolis, IN
Similar Off Market Nearby
- Top Deals Furniture — 5120 W 38th St, Indianapolis, IN 46254
- Home Style Furniture — 4321 Lafayette Rd, Indianapolis, IN 46254
Frequently Asked Questions
What type of property is this?
Showroom - Automotive dealership property with a large dealership facility, secondary building, and extensive vehicle display capacity.
Where is this showroom located?
The property is located at 5155 W Pike Plaza Rd Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 4.23‑acre automotive property with a 11,709 SF dealership facility and a 3,375 SF secondary building; Year built 2005, currently operating as a Mitsubishi dealership; Buy the real estate only or buy both the dealership franchise and real estate (subject to manufacturer approval)
