Strip Mall Retail
For Sale
Contact for pricing
5868 East 71st Street, Indianapolis, IN 46220
For sale retail shopping center offering storefront space in a strip-mall configuration.
Property Size24,597 SF
Price / SF$331.34
Days on Market97
Property Features for 5868 East 71st Street
General Information
Standard status
Active
Size
24,597 SF
Property subtype
Retail
Zoning
C-4
Occupancy
100%
Net Operating Income
$566,008
Building Details
Year Built
1970
Units
130
Tenancy
Multi
Listing Agency:
Bradley Company Indianapolis
Listed By:
Nicholas R. Miller · License #IN
Source:
Crexi
Added: Jun 1
Changed: Aug 22
Last Checked: Sep 1 at 1:30AM
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 Bradley Company Indianapolis
Investment Insights
Based on property information with market context.
Binford Shoppes is a for-sale strip mall retail center featuring storefront property space designed for retail-oriented occupancy. The asset is classified as shopping center retail and is sized at 24,597 square feet, with the property information identifying it as a consolidated commercial retail format.
The center is located at 5868 East 71st Street in Indianapolis, Indiana, with the listing presented under the Binford Shoppes name. As a strip-mall style retail property, it is positioned to serve tenants looking for storefront-based access within a multi-tenant retail environment.
For prospective tenants, this property format can support retail users seeking a storefront setting within a larger retail center footprint. For buyers, it may be considered as an acquisition opportunity within the retail shopping center category, with the size and retail storefront classification providing a baseline for underwriting and tenant mix planning. Interested parties should review the full offering materials to confirm the specific unit configuration and any leasing or occupancy details associated with the property.
The center is located at 5868 East 71st Street in Indianapolis, Indiana, with the listing presented under the Binford Shoppes name. As a strip-mall style retail property, it is positioned to serve tenants looking for storefront-based access within a multi-tenant retail environment.
For prospective tenants, this property format can support retail users seeking a storefront setting within a larger retail center footprint. For buyers, it may be considered as an acquisition opportunity within the retail shopping center category, with the size and retail storefront classification providing a baseline for underwriting and tenant mix planning. Interested parties should review the full offering materials to confirm the specific unit configuration and any leasing or occupancy details associated with the property.
Key Highlights
- Retail shopping center in a strip‑mall configuration
- Storefront space available
- Built in 1970
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$264,674
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,293,480
$5.3M
Cap Rate 7%
$3,781,057
$3.8M
Cap Rate 9%
$2,940,822
$2.9M
Market Conditions
NOI Build-Up for 24,597 SF
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.
Gross rent
$413.2K $16.80/SF
− Vacancy
−$35.1K −$1.43/SF
EGI
$378.1K $15.37/SF
− OpEx
−$113.4K −$4.61/SF
NOI
$264.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,293,480
Cap Rate 7%
$3,781,057
Cap Rate 9%
$2,940,822
Alternative Uses
Best Use
Retail
$3.78M
$3.31M – $4.41M
NOI $264,674 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.12M
$5.36M – $7.14M
NOI $428,578 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46220, IN
36,078
Population
17,524
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,084
Density / Sq Mi
$103,735
Median Household Income
$58,867
Median Earnings
$1,330
Median Rent
$329,700
Median Home Value
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Intech Retail — 6335 Intech Commons Dr, Indianapolis, IN 46278
Frequently Asked Questions
What type of property is this?
Shopping center - For sale retail shopping center offering storefront space in a strip-mall configuration.
Where is this shopping center located?
The property is located at 5868 East 71st Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $8,150,000.
What are key features of this property?
This property features: Retail shopping center in a strip‑mall configuration; Storefront space available; Built in 1970
