Mixed-Use Retail and Industrial
5450 W 86th Street Indianapolis, IN 46268
For Sale
$2,500,000
Pending
COMMERCIAL - Indianapolis, IN
Property Size15,000 SF
Lot Size3.05 Acres
Days on Market469
Property Features for 5450 W 86th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
I4 - C4
Fencing
Chain Link
Standard status
Pending
APN
490413109039000600
Lot size
3.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
5450 West 86th Street L1
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
1
Roof type
Flat
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Jason Alsup · License #RB14035549
(812) 734-6048
Added: Apr 17, 2025
Changed: Jun 26
Last Checked: Jul 29 at 9:06AM
MLS# 22033393
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.
This mixed-use property totals 3.05 acres and includes both a retail component and an industrial building. The retail portion is zoned C4 and is configured with 8 units in a 15,000-square-foot setup, with an indicated potential to convert the configuration into 9 units. Most of the retail spaces are built out, with the site expected to benefit from capital improvements aimed at modernization and maximizing performance of the existing unit mix. The industrial building is zoned I4 and provides 6,300 square feet, supporting a range of industrial uses and accommodating either an owner-user setup or leasing demand.
The property is located at 5450 W 86th Street in Indianapolis, Indiana 46268, within Marion County. The listing notes zoning designations intended to support both retail and industrial operations on the same site.
For buyers and operators, this layout can fit users seeking a multi-component real estate structure, including retail tenants served by the unitized configuration and industrial users evaluating the stand-alone building. The current built-out condition of the retail spaces may reduce upfront work relative to a raw shell, while the indicated need for CAPEX modernization provides a clear path for improving the retail offering over time.
The property is located at 5450 W 86th Street in Indianapolis, Indiana 46268, within Marion County. The listing notes zoning designations intended to support both retail and industrial operations on the same site.
For buyers and operators, this layout can fit users seeking a multi-component real estate structure, including retail tenants served by the unitized configuration and industrial users evaluating the stand-alone building. The current built-out condition of the retail spaces may reduce upfront work relative to a raw shell, while the indicated need for CAPEX modernization provides a clear path for improving the retail offering over time.
Key Highlights
- 3.05‑acre mixed retail/industrial property with both C4 (retail) and I4 (industrial) zoning
- Retail portion: 15,000 SF zoned C4, currently configured with 8 units and potential to convert to 9 units
- Industrial portion: 6,300 SF zoned I4 with flexibility for various industrial uses
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 | $252.0k | $16.80 |
| − Vacancy | −$21.4k | −$1.43 |
| EGI | $230.6k | $15.37 |
| − OpEx | −$69.2k | −$4.61 |
| NOI | $161.4k | $10.76 |
15,000 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.69M
NOI $161,406 @ 7.0% cap · market cap 6.46%
Second Best
Warehouse
$1.30M
$1.13M – $1.51M
NOI $90,798 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$3.73M
$3.27M – $4.36M
NOI $261,360 @ 7.0% cap · market cap 10.45%
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 - A combined retail and industrial site with zoning for multiple uses and room for unit reconfiguration.
Where is this retail space located?
The property is located at 5450 W 86th Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 3.05‑acre mixed retail/industrial property with both C4 (retail) and I4 (industrial) zoning; Retail portion: 15,000 SF zoned C4, currently configured with 8 units and potential to convert to 9 units; Industrial portion: 6,300 SF zoned I4 with flexibility for various industrial uses
