Automotive Dealership
5155 W PIKE PLAZA RD Indianapolis, IN 46254
New
5155 W PIKE PLAZA RD, Indianapolis, IN, 46254
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For Sale
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Automotive dealership property with a large dealership facility, secondary building, and extensive vehicle display capacity.
Property Size15,084 SF
Price / SF$132.59
Days on Market5
Property Features for 5155 W PIKE PLAZA RD
General Information
- Standard status
- Active
- Size
- 15,084 SF
- Property subtype
- Retail, Office, Industrial
Building Details
- Year Built
- 2005
Listing agency
eXp Commercial
(855) 441-0124
Listed by
Michael Marlin · License #RB18001271
Source
Crexi
Added: Jul 17 Updated: Jul 21 at 11:07AM Checked: Jul 21 at 11:07AM
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
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)
Local 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 | $117.7k | $7.80 |
| − Vacancy | −$10.2k | −$0.68 |
| EGI | $107.4k | $7.12 |
| − OpEx | −$32.2k | −$2.14 |
| NOI | $75.2k | $4.98 |
15,084 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Ray Skillman Mitsubishi ...
Car Dealership
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- Home Style Furniture — 4321 Lafayette Rd, Indianapolis, IN 46254
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FAQs
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)
