Warehouse with Office and Dock-High
For Sale
Contact for pricing
5905 Decatur Blvd, Indianapolis, IN 46241
Well-maintained 30,090 SF warehouse with 7,357 SF office, dock-high and drive-in doors, and 28' clear height.
Property Size30,090 SF
Lot Size3.00 Acres
Price / SF$166
Days on Market167
Property Features for 5905 Decatur Blvd
General Information
Standard status
Active
Size
30,090 SF
Lot size
3.00 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
28 ft
Dock-High Doors
2
Drive-In Doors
1
Heavy Power
Yes
Building Details
Year Built
2006
Listing Agency:
Bradley Company - Corporate
(317) 663-6000
Listed By:
Tom Osborne
(317) 258-0179
Source:
Moodyscre
Added: Apr 2
Changed: Sep 4
Last Checked: Sep 14 at 5:31AM
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 - Corporate
Investment Insights
Based on property information with market context.
This well-maintained warehouse facility was built in 2006 and totals 30,090 SF, including 22,733 SF of warehouse space and 7,357 SF of office space. The building offers 28’ clear height with column spacing described as 40’ x 40’ and 40’ x 45’. Loading is supported by (2) dock-high doors sized 9’ x 10’ and 9’ x 12’, plus (1) drive-in door sized 12’ x 14’. Electrical service is 480V, 3-phase.
The property includes approximately 3 acres and is expandable by an additional 10,000 SF, supporting future growth. Located at 5905 Decatur Blvd in Indianapolis, IN 46241.
Warehouse access includes both dock-high and drive-in configurations, providing operational flexibility while keeping office space separated within the existing layout.
The property includes approximately 3 acres and is expandable by an additional 10,000 SF, supporting future growth. Located at 5905 Decatur Blvd in Indianapolis, IN 46241.
Warehouse access includes both dock-high and drive-in configurations, providing operational flexibility while keeping office space separated within the existing layout.
Key Highlights
- 30,090 SF total building with 22,733 SF warehouse and 7,357 SF office
- Expandable by an additional 10,000 SF on 3 acres
- (2) dock‑high doors: 9' x 10' and 9' x 12'
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
$397,278
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
7.95%
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%
$7,945,560
$7.9M
Cap Rate 7%
$5,675,400
$5.7M
Cap Rate 9%
$4,414,200
$4.4M
Market Conditions
NOI Build-Up for 30,090 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
$649.9K $21.60/SF
− Vacancy
−$120.2K −$4.00/SF
EGI
$529.7K $17.60/SF
− OpEx
−$132.4K −$4.40/SF
NOI
$397.3K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$7,945,560
Cap Rate 7%
$5,675,400
Cap Rate 9%
$4,414,200
Alternative Uses
Best Use
Office B
$5.68M
$4.97M – $6.62M
NOI $397,278 @ 7.0% cap · market cap 7.95%
Second Best
Flex RnD
$4.22M
$3.70M – $4.93M
NOI $295,725 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$7.49M
$6.55M – $8.74M
NOI $524,288 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
28 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained 30,090 SF warehouse with 7,357 SF office, dock-high and drive-in doors, and 28' clear height.
Where is this flex space located?
The property is located at 5905 Decatur Blvd Indianapolis, IN.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 30,090 SF total building with 22,733 SF warehouse and 7,357 SF office; Expandable by an additional 10,000 SF on 3 acres; (2) dock‑high doors: 9' x 10' and 9' x 12'
