Retail Office Building with
For Sale
Contact for pricing
Pending
5243 ROCKVILLE RD, Indianapolis, IN 46224
For sale C-3 zoned building featuring 17 parking spaces and 200+ feet of hard-corner frontage.
Property Size4,524 SF
Days on Market137
Property Features for 5243 ROCKVILLE RD
General Information
Standard status
Pending
Size
4,524 SF
Class
D
Total Parking Spaces
17
Property subtype
Retail, Office
Zoning
C-3
Investment Type
Value Add
Building Details
Year Built
1946
Buildings
1
Stories
1
Units
17
Listing Agency:
KW Commercial Indy Metro South
Listed By:
Shelly Johnson · License #IN RB14043056
(317) 882-5900
Source:
Crexi
Added: Apr 25
Changed: Aug 8
Last Checked: Jul 24 at 5:23PM
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 KW Commercial Indy Metro South
Investment Insights
Based on property information with market context.
This C-3 zoned retail/office building is offered for sale with 17 parking spaces and a hard-corner configuration. The property also has 200+ feet of frontage, supporting flexible street-level presence for commercial uses.
The site is located about one mile from I-465, providing convenient regional access for retail and office operations.
With its parking count and substantial frontage, the building is designed to accommodate day-to-day customer or client access in a straightforward, easily marketable footprint.
The site is located about one mile from I-465, providing convenient regional access for retail and office operations.
With its parking count and substantial frontage, the building is designed to accommodate day-to-day customer or client access in a straightforward, easily marketable footprint.
Key Highlights
- C‑3 zoned building built in 1946
- Hard‑corner location with 200+ feet of frontage
- 17 parking spaces on site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,680
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$973,600
$973.6K
Cap Rate 7%
$695,429
$695.4K
Cap Rate 9%
$540,889
$540.9K
Market Conditions
NOI Build-Up for 4,524 SF
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.
Gross rent
$76.0K $16.80/SF
− Vacancy
−$6.5K −$1.43/SF
EGI
$69.5K $15.37/SF
− OpEx
−$20.9K −$4.61/SF
NOI
$48.7K $10.76/SF
Area
Indianapolis, IN
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$973,600
Cap Rate 7%
$695,429
Cap Rate 9%
$540,889
Alternative Uses
Best Use
Office B
$853.3K
$746.6K – $995.5K
NOI $59,730 @ 7.0% cap · market cap 10.86%
Second Best
Retail
$695.4K
$608.5K – $811.3K
NOI $48,680 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$1.13M
$985.3K – $1.31M
NOI $78,826 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 46224, IN
38,822
Population
16,912
Households
2.3
Avg Household Size
32
Median Age
24%
College-Educated
83%
High-School Grad
7.2 sq mi
ZIP Area
5,392
Density / Sq Mi
$53,731
Median Household Income
$35,726
Median Earnings
$1,048
Median Rent
$166,500
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale C-3 zoned building featuring 17 parking spaces and 200+ feet of hard-corner frontage.
Where is this retail space located?
The property is located at 5243 ROCKVILLE RD Indianapolis, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: C‑3 zoned building built in 1946; Hard‑corner location with 200+ feet of frontage; 17 parking spaces on site
