Retail or Restaurant Space
5299 E 38th St Indianapolis, IN
For Sale
Contact for pricing
2,540 SF building suitable for retail or restaurant use.
Property Size2,540 SF
Lot Size0.60 Acres
Price / SF$255.91
Days on Market435
Property Features for 5299 E 38th St
General Information
Standard status
Active
Size
2,540 SF
Lot size
0.60 Acres
Property subtype
RETAIL
Listing Agency:
Premier Commercial Real Estate Services, Inc.
(317) 660-1289
Listed By:
Kristen Berry · License #IN123455
(317) 660-1289
Source:
Moodyscre
Added: May 21, 2025
Changed: Jul 6
Last Checked: Jul 22 at 3:34AM
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 is a 2,540 SF building with a flexible layout suitable for retail or restaurant use. All fixtures, furniture, and equipment are available. The property is located along the newly redeveloped 38th Street in a prime location within the dynamic Indianapolis area.
Key Highlights
- Prime location in the dynamic Indianapolis area
- 2,540 SF building with flexible layout for retail or restaurant use
- Located along newly redeveloped 38th St.
Financial Insights For Specialty 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 | $45.7k | $18.00 |
| − Vacancy | −$3.4k | −$1.35 |
| EGI | $42.3k | $16.65 |
| − OpEx | −$10.6k | −$4.16 |
| NOI | $31.7k | $12.49 |
2,540 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$453.1K
$396.5K – $528.6K
NOI $31,718 @ 7.0% cap · market cap 4.88%
Second Best
Retail
$390.4K
$341.6K – $455.5K
NOI $27,331 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$632.2K
$553.2K – $737.6K
NOI $44,257 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - 2,540 SF building suitable for retail or restaurant use.
Where is this retail space located?
The property is located at 5299 E 38th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime location in the dynamic Indianapolis area; 2,540 SF building with **flexible layout for retail or restaurant use**; Located along newly redeveloped 38th St.
