Zoned Retail and Strip Center
For Sale
Contact for pricing
5411 West Washington Street, Indianapolis, IN 46241
For-sale retail building built in 1961, zoned C5, suited for a retail or strip center.
Property Size13,480 SF
Price / SF$133.53
Days on Market96
Property Features for 5411 West Washington Street
General Information
Standard status
Active
Size
13,480 SF
Property subtype
Retail
Zoning
C5
Building Details
Year Built
1961
Units
2
Listing Agency:
Premier Commercial TCN Worldwide Real Estate
Listed By:
Pete Alveal · License #IN123455
(317) 997-9362
Source:
Crexi
Added: Jul 13
Changed: Oct 7
Last Checked: Oct 16 at 8:25AM
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 TCN Worldwide Real Estate
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Investment Insights
Based on property information with market context.
This for-sale retail building totals 13,480 SF and was built in 1961. The property is zoned C5, offering a framework for retail-oriented use and development as a retail or strip center asset.
The building is located at 5411 West Washington Street in Indianapolis, Indiana (46241).
The building is located at 5411 West Washington Street in Indianapolis, Indiana (46241).
Key Highlights
- 13,480 SF commercial building built in 1961
- 5411 W Washington St retail/strip center opportunity
- Zoned C5
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,050
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,901,000
$2.9M
Cap Rate 7%
$2,072,143
$2.1M
Cap Rate 9%
$1,611,667
$1.6M
Market Conditions
NOI Build-Up for 13,480 SF
Gross rent
$226.5K $16.80/SF
− Vacancy
−$19.2K −$1.43/SF
EGI
$207.2K $15.37/SF
− OpEx
−$62.2K −$4.61/SF
NOI
$145.1K $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 Rate 5%
$2,901,000
Cap Rate 7%
$2,072,143
Cap Rate 9%
$1,611,667
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.42M
NOI $145,050 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.36M
$2.94M – $3.91M
NOI $234,876 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 46241, IN
33,568
Population
12,414
Households
2.7
Avg Household Size
33
Median Age
15%
College-Educated
73%
High-School Grad
23.9 sq mi
ZIP Area
1,405
Density / Sq Mi
$51,598
Median Household Income
$33,477
Median Earnings
$1,118
Median Rent
$111,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Strip mall - For-sale retail building built in 1961, zoned C5, suited for a retail or strip center.
Where is this strip mall located?
The property is located at 5411 West Washington Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 13,480 SF commercial building built in 1961; 5411 W Washington St retail/strip center opportunity; Zoned C5
