Automotive Dealership
5309 W PIKE PLAZA RD Indianapolis, IN 46254
New
5309 W PIKE PLAZA RD, Indianapolis, IN, 46254
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For Sale
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Former franchise dealership with showroom, offices, service area, customer waiting spaces, and extensive paved parking and vehicle display.
Property Size14,989 SF
Lot Size3.42 Acres
Price / SF$153.45
Days on Market6
Property Features for 5309 W PIKE PLAZA RD
General Information
- Standard status
- Active
- Size
- 14,989 SF
- Lot size
- 3.42 Acres
- Property subtype
- Retail, Office, Industrial
Building Details
- Year Built
- 1985
Listing agency
eXp Commercial
(855) 441-0124
Listed by
Michael Marlin · License #RB18001271
Source
Crexi
Added: Jul 17 Updated: Jul 22 at 2:07AM Checked: Jul 22 at 2:07AM
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 professionally maintained former franchise dealership includes an attractive showroom, professional office space, a service department, and customer waiting areas. The site is supported by ample paved parking and dedicated vehicle display areas, designed for automotive-focused operations.
The property sits along the Pike Plaza Road corridor on Indianapolis’ west side, offering visibility and access for commercial users. Following the relocation of the existing franchise dealership in late 2026/early 2027, the facility is expected to be available for immediate occupancy.
The overall site configuration includes both building improvements for sales and service and exterior paved areas intended for vehicle display, making it well-suited to automotive dealerships, fleet operations, equipment sales, powersports, RV dealers, contractors, or other adaptive commercial redevelopment.
The property sits along the Pike Plaza Road corridor on Indianapolis’ west side, offering visibility and access for commercial users. Following the relocation of the existing franchise dealership in late 2026/early 2027, the facility is expected to be available for immediate occupancy.
The overall site configuration includes both building improvements for sales and service and exterior paved areas intended for vehicle display, making it well-suited to automotive dealerships, fleet operations, equipment sales, powersports, RV dealers, contractors, or other adaptive commercial redevelopment.
Key Highlights
- 1985‑built former franchise dealership with approx. 14,989 SF of building space on 3.42 acres
- Showroom plus professional offices and customer waiting areas
- On‑site service department with space designed for automotive operations
Local Financial Insights For Office B
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 | $332.8k | $22.20 |
| − Vacancy | −$71.5k | −$4.77 |
| EGI | $261.2k | $17.43 |
| − OpEx | −$65.3k | −$4.36 |
| NOI | $195.9k | $13.07 |
14,989 SF · lease $22.20/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.27M
NOI $195,910 @ 7.0% cap · market cap 8.52%
Second Best
Retail
$2.73M
$2.39M – $3.18M
NOI $190,920 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$4.12M
$3.60M – $4.81M
NOI $288,379 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Ray Skillman Mazda ...
Auto Repair Shop
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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 - Former franchise dealership with showroom, offices, service area, customer waiting spaces, and extensive paved parking and vehicle display.
Where is this showroom located?
The property is located at 5309 W PIKE PLAZA RD Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 1985‑built former franchise dealership with approx. 14,989 SF of building space on 3.42 acres; Showroom plus professional offices and customer waiting areas; On‑site service department with space designed for automotive operations
