5945 Crawfordsville Rd Indianapolis, Speedway, IN 46224

Building Details

Building Size 16,000 SF More

Year Built 1989 More

Units 11 More

Listing Agency: Encore Real Estate Investment Services

Listed By: Deno Bistolarides · License IN #6502378067 Show Phone

Source: Commercialcafe

Added: Oct 19 Changed: Nov 13 Last Checked: Nov 12 at 4:48AM

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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 Encore Real Estate Investment Services

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This retail property at 5945 Crawfordsville Road is in the Speedway area of Indianapolis. The building was constructed in 1989.

Key Highlights

• 5945 Crawfordsville Road address in Indianapolis’s Speedway area
• Building constructed in 1989

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$192,730

Cap Rate

4.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,854,600 $3.9M

Cap Rate 7%

$2,753,286 $2.8M

Cap Rate 9%

$2,141,444 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,000 SF

Gross rent

$288.0K $18.00/SF

− Vacancy

−$12.7K −$0.79/SF

EGI

$275.3K $17.21/SF

− OpEx

−$82.6K −$5.16/SF

NOI

$192.7K $12.05/SF

Area

Marion County, IN

Vacancy

4.40%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,854,600

Cap Rate 7%

$2,753,286

Cap Rate 9%

$2,141,444

Alternative Uses

Best Use

Retail

$2.75M

$2.41M – $3.21M (±1% cap)

NOI $192,730 @ 7.0% cap · market cap 4.01%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.09M

$3.58M – $4.77M (±1% cap)

NOI $286,341 @ 7.0% cap · market cap 5.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Strip malls

Suggested Use

Top Pick Dental Office Law Firm Building Supply Skin Care Clinic Auto Parts Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

538

Businesses Nearby

Explore this area Business Placement

Demographics for 46224, IN

38,822

Population

16,912

Households

2.3

Avg Household Size

32

Median Age

24%

College-Educated

83%

High-School Grad

7.2 sq mi

ZIP Area

5,392

Density / Sq Mi

$53,731

Median Household Income

$35,726

Median Earnings

$1,048

Median Rent

$166,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Mixed-Use Property with Storefronts

1430 N Main Street, Speedway, IN 46224

$899,000

8,400 SF

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Storefront Property with Patio

1032 North Main Street, Speedway, IN 46224

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Frequently Asked Questions

What type of property is this?

Strip mall - Located on Crawfordsville Road in Indianapolis’s Speedway area.

Where is this strip mall located?

The property is located at 5945 Crawfordsville Rd Indianapolis Speedway, IN.

What is the asking price?

The asking price for this property is $4,804,894.

What are key features of this property?

This property features: 5945 Crawfordsville Road address in Indianapolis’s Speedway area; Building constructed in 1989