Restaurant and Used-Car Mixed-Use
5602 W Washington St, Indianapolis, IN 46219
For Sale
New
$900,000
The property combines restaurant space with a used-car dealership under month-to-month leases.
Property Size2,160 SF
Price / SF$416.67
Days on Market6
Property Features for 5602 W Washington St
General Information
Standard status
Size
Site & Location
Neighborhood
Highway Access
Tenancy & Operations
Tenant in Place
Real Estate Included
Additional Details
Automotive Uses
Building Details
Tenancy
Listing Agency:
eXp Realty, LLC
(888) 611-3912
Listed By:
Mark Wesler · License #RB19000739
(317) 372-3283
Source:
Exprealty
Added: Nov 2
Changed: Nov 6
Last Checked: Nov 6 at 2:44PM
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 Realty, LLC
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Investment Insights
Based on property information with market context.
This 2,160-square-foot mixed-use property accommodates a restaurant and a used-car dealership. The building has new HVAC, and a parking area serves the site. Both tenant leases are month to month.
Located on Indianapolis’s west side in Wayne Township, the property is a short drive from I-465.
Located on Indianapolis’s west side in Wayne Township, the property is a short drive from I-465.
Key Highlights
- Restaurant and used‑car dealership occupy the property
- 2,160 square feet of mixed‑use space
- New HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,973
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,460
$539.5K
Cap Rate 7%
$385,329
$385.3K
Cap Rate 9%
$299,700
$299.7K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$38.9K $18.00/SF
− Vacancy
−$2.9K −$1.35/SF
EGI
$36.0K $16.65/SF
− OpEx
−$9.0K −$4.16/SF
NOI
$27.0K $12.49/SF
Area
Indianapolis, IN
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,460
Cap Rate 7%
$385,329
Cap Rate 9%
$299,700
Alternative Uses
Best Use
Specialty Retail
$385.3K
$337.2K – $449.6K
NOI $26,973 @ 7.0% cap · market cap 3.00%
Second Best
Mixed Use
$374.9K
$328.1K – $437.4K
NOI $26,244 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$537.7K
$470.5K – $627.3K
NOI $37,636 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Mixed-use properties in Indianapolis
Vacancy Rate% for Retail in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines restaurant space with a used-car dealership under month-to-month leases.
Where is this mixed-use property located?
The property is located at 5602 W Washington St Indianapolis, IN.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Restaurant and used‑car dealership occupy the property; 2,160 square feet of mixed‑use space; New HVAC
