Mixed-Use Property with
For Sale
Contact for pricing
6516 Ferguson St, Indianapolis, IN 46220
Commercial conversion combining front-office space with a restaurant operation in a character-rich building.
Property Size1,924 SF
Price / SF$389.81
Days on Market154
Property Features for 6516 Ferguson St
General Information
Standard status
Active
Size
1,924 SF
Class
B
Total Parking Spaces
6
Property subtype
Retail, Office
Zoning
CS
Investment Type
Owner/User
Building Details
Year Built
1902
Units
6
Tenancy
Multi
Listing Agency:
Assemble Real Estate
Listed By:
Lily Smith · License #RB14044176
Source:
Crexi
Added: May 14
Changed: Oct 7
Last Checked: Oct 12 at 6:51PM
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 Assemble Real Estate
Investment Insights
Based on property information with market context.
Built in 1902 as a residence and subsequently adapted for commercial use, this 1,924-square-foot property provides a blended office and restaurant configuration. The front section is office space scheduled to become available 7.1.2026, while the converted garage supports the Wing Shack restaurant concept under lease through the end of 2028. The main building portion has a new roof and HVAC system.
The property occupies 0.18 acres at 6516 Ferguson Street in Indianapolis, within Broad Ripple. Six dedicated parking spaces serve the site, which is positioned near the district’s restaurants, shops, and other amenities. CS zoning and the existing commercial conversion support the property’s current mixed-use format.
The property occupies 0.18 acres at 6516 Ferguson Street in Indianapolis, within Broad Ripple. Six dedicated parking spaces serve the site, which is positioned near the district’s restaurants, shops, and other amenities. CS zoning and the existing commercial conversion support the property’s current mixed-use format.
Key Highlights
- 1,924 SF mixed‑use property on 0.18 acres
- Front office area available 7.1.2026
- Wing Shack restaurant lease runs through the end of 2028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,403
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,060
$508.1K
Cap Rate 7%
$362,900
$362.9K
Cap Rate 9%
$282,256
$282.3K
Market Conditions
NOI Build-Up for 1,924 SF
Gross rent
$41.6K $21.60/SF
− Vacancy
−$7.7K −$4.00/SF
EGI
$33.9K $17.60/SF
− OpEx
−$8.5K −$4.40/SF
NOI
$25.4K $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 Rate 5%
$508,060
Cap Rate 7%
$362,900
Cap Rate 9%
$282,256
Alternative Uses
Best Use
Office B
$362.9K
$317.5K – $423.4K
NOI $25,403 @ 7.0% cap · market cap 3.39%
Second Best
Specialty Retail
$343.2K
$300.3K – $400.4K
NOI $24,026 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$478.9K
$419.1K – $558.7K
NOI $33,524 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,404
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial conversion combining front-office space with a restaurant operation in a character-rich building.
Where is this mixed-use property located?
The property is located at 6516 Ferguson St Indianapolis, IN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,924 SF mixed‑use property on 0.18 acres; Front office area available 7.1.2026; Wing Shack restaurant lease runs through the end of 2028
