Intech Commons Multi-Tenant Retail
For Sale
$5,241,000
6335 Intech Commons Dr, Indianapolis, IN 46278
Fully occupied retail center with service businesses, restaurants, triple-net leases, and paved parking.
Property Size19,040 SF
Lot Size2.16 Acres
Price / SF$275.26
Days on Market150
Property Features for 6335 Intech Commons Dr
General Information
Standard status
Active
Size
19,040 SF
Lot size
2.16 Acres
Property subtype
Shopping Strip
Occupancy
100%
Site & Location
Pylon Signage
Yes
Traffic Count
38,146 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
7.85%
Amenities
monument sign
Fully Stabilized Asset | 100% Leased with Triple-Net Leases
All Leases Include Scheduled Annual Rent Escalations, Providing Year-Over-Year Income Growth Potential
Current Average Rents are Significantly Below Market
Tenants are a Complementary Mix of Service-Oriented Businesses and Restaurants | Majority of the Leases are Personally Guaranteed
Well Positioned to Serve a Community of More Than 147,839 Residents Within a Five-Mile Radius and a Large Daytime Workforce of 104,221 People Within Five Miles | One-Mile Average Household Income is $144,655
Building Details
Building Size
19,040 SF
Year Built
1999
Tenancy
Multi
Listing Agency:
Dallas Office
(972) 755-5225
Listed By:
Philip Levy · License #TX: 0522087
(972) 755-5225
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 4:26AM
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 Dallas Office
Investment Insights
Based on property information with market context.
Intech Commons is a 19,040-square-foot multi-tenant retail center completed in 1999 on a 2.16-acre parcel in Indianapolis. The property is 100 percent leased to a mix of restaurants and service-oriented businesses, including Le Peep Restaurant, Macizo Restaurant, Gatsby's Pub & Grill, LB Extensions, Indianapolis Endodontics, and Staffmark Group. Lease structures are triple-net with annual rent escalations. Paved parking serves the center, and a double-sided monument sign is positioned along 71st Street Connector.
The property is located on Intech Commons Drive near the signalized intersection of Intech Boulevard and West 71st Street, with close access to Interstate 465. West 71st Street carries 38,146 vehicles per day, while Interstate 465 records more than 113,347 vehicles per day. The surrounding area includes several national hotel chains and approximately 104,221 people within a five-mile radius.
The property is located on Intech Commons Drive near the signalized intersection of Intech Boulevard and West 71st Street, with close access to Interstate 465. West 71st Street carries 38,146 vehicles per day, while Interstate 465 records more than 113,347 vehicles per day. The surrounding area includes several national hotel chains and approximately 104,221 people within a five-mile radius.
Key Highlights
- 100 percent leased multi‑tenant retail center
- 19,040‑square‑foot center on a 2.16‑acre parcel
- Triple‑net leases with annual rent escalations
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
$204,878
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
3.91%
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%
$4,097,560
$4.1M
Cap Rate 7%
$2,926,829
$2.9M
Cap Rate 9%
$2,276,422
$2.3M
Market Conditions
NOI Build-Up for 19,040 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
$319.9K $16.80/SF
− Vacancy
−$27.2K −$1.43/SF
EGI
$292.7K $15.37/SF
− OpEx
−$87.8K −$4.61/SF
NOI
$204.9K $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%
$4,097,560
Cap Rate 7%
$2,926,829
Cap Rate 9%
$2,276,422
Alternative Uses
Best Use
Retail
$2.93M
$2.56M – $3.41M
NOI $204,878 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.74M
$4.15M – $5.53M
NOI $331,753 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
38,146 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 46278, IN
8,910
Population
3,357
Households
2.7
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
675
Density / Sq Mi
$153,930
Median Household Income
$79,007
Median Earnings
$1,172
Median Rent
$420,200
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.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied retail center with service businesses, restaurants, triple-net leases, and paved parking.
Where is this strip mall located?
The property is located at 6335 Intech Commons Dr Indianapolis, IN.
What is the asking price?
The asking price for this property is $5,241,000.
What are key features of this property?
This property features: 100 percent leased multi‑tenant retail center; 19,040‑square‑foot center on a 2.16‑acre parcel; Triple‑net leases with annual rent escalations
