Hard-Corner Retail and Office
5243 Rockville Road Indianapolis, IN 46224
For Sale
$550,000
Pending
SINGLE_FAMILY - Indianapolis, IN
Property Size4,524 SF
Lot Size0.31 Acres
Days on Market93
Property Features for 5243 Rockville Road
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- C3
- Standard status
- Pending
- APN
- 491107122004000900
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Rocklyn Addition Pt L1 & L2 Beg 41.28' S Of Nw Cor L1 S 55' Se 54.37' E 92.12' N 146.24' W 69.17' Sw Irr 47.24' To Beg
Utilities
- Utilities
- Natural Gas Available
Building Details
- Year built
- 1946
Listing Agency:
Keller Williams Indy Metro Partners
(317) 882-5900
Listed By:
Shelly Johnson · License #RB14043056
(317) 882-5900
Added: Apr 25
Changed: Jul 16
Last Checked: Jul 26 at 5:06AM
MLS# 22097917
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located on a hard corner, this 4,524 SF building offers a flexible layout suitable for retail, office, or service-based users. The property is zoned C3, which supports a wide range of permitted uses, including neighborhood retail, professional services, restaurant concepts, and personal care businesses. The building does require renovation, providing an opportunity for a buyer to reposition and customize the space to fit their operating plan. It sits on a 0.31-acre lot with on-site parking and prominent frontage.
The site is positioned at Rockville Road & Lynnhurst and benefits from strong exposure, with over 20,000 cars per day along this stretch. The property is also about 1 mile from I-465, supporting convenient regional access for prospective customers and visitors.
The site is positioned at Rockville Road & Lynnhurst and benefits from strong exposure, with over 20,000 cars per day along this stretch. The property is also about 1 mile from I-465, supporting convenient regional access for prospective customers and visitors.
Key Highlights
- 4,524 SF building on a hard corner at Rockville Road & Lynnhurst
- C‑3 zoning supports a range of uses including neighborhood retail, professional services, restaurant concepts, and personal care businesses
- Over 20,000 cars per day along the corridor for strong traffic exposure
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 | $76.0k | $16.80 |
| − Vacancy | −$6.5k | −$1.43 |
| EGI | $69.5k | $15.37 |
| − OpEx | −$20.9k | −$4.61 |
| NOI | $48.7k | $10.76 |
4,524 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - 4,524 SF building on a hard corner, zoned C3, with on-site parking and strong frontage on Rockville Road.
Where is this retail space located?
The property is located at 5243 Rockville Road 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: 4,524 SF building on a hard corner at Rockville Road & Lynnhurst; C‑3 zoning supports a range of uses including neighborhood retail, professional services, restaurant concepts, and personal care businesses; Over 20,000 cars per day along the corridor for strong traffic exposure
