Freestanding Retail/Flex Building on
6609 E 82nd St, Indianapolis, IN 46250
For Sale
$2,100,000
18,500 SF retail/flex building with visibility on 82nd Street.
Property Size19,600 SF
Lot Size1.34 Acres
Price / SF$113.51
Days on Market252
Property Features for 6609 E 82nd St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Listing Agency:
SVN | Northern Commercial
Listed By:
Wade Wilson · License IN RB20000720
(317) 863-9271
Source:
Svn
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 6:20AM
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 SVN | Northern Commercial
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Investment Insights
Based on property information with market context.
This 18,500 square foot freestanding retail/flex building is located in the heart of Castleton, directly off 82nd Street. The property offers connectivity to the I-69/I-465 interchange and visibility to 82nd Street, which sees 50,000 vehicles per day. The 1.34-acre site includes approximately 50 parking spaces. The building has undergone extensive renovations in the past three years, including a new roof on the south portion, exterior paint, an extensive interior buildout, and LED lighting throughout. The property includes two drive-in doors and a loading dock.
Key Highlights
- Prime location directly off 82nd Street in Castleton with high visibility (50,000 vehicles per day).
- Excellent connectivity to the I‑69/I‑465 interchange.
- Extensive renovations completed in the past three years, including a new roof on the south portion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,818
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,636,360
$3.6M
Cap Rate 7%
$2,597,400
$2.6M
Cap Rate 9%
$2,020,200
$2.0M
Market Conditions
NOI Build-Up for 18,500 SF
Gross rent
$310.8K $16.80/SF
− Vacancy
−$31.1K −$1.68/SF
EGI
$279.7K $15.12/SF
− OpEx
−$97.9K −$5.29/SF
NOI
$181.8K $9.83/SF
Area
Indianapolis, IN
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,636,360
Cap Rate 7%
$2,597,400
Cap Rate 9%
$2,020,200
Alternative Uses
Best Use
Retail
$2.84M
$2.49M – $3.32M
NOI $199,067 @ 7.0% cap · market cap 9.48%
Second Best
Flex RnD
$2.60M
$2.27M – $3.03M
NOI $181,818 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$4.60M
$4.03M – $5.37M
NOI $322,344 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 46250, IN
19,156
Population
9,815
Households
2
Avg Household Size
35
Median Age
53%
College-Educated
96%
High-School Grad
7.7 sq mi
ZIP Area
2,488
Density / Sq Mi
$69,591
Median Household Income
$45,696
Median Earnings
$1,293
Median Rent
$288,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Retail space in Indianapolis
Vacancy Rate% for Industrial in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Retail space - 18,500 SF retail/flex building with visibility on 82nd Street.
Where is this retail space located?
The property is located at 6609 E 82nd St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime location directly off 82nd Street in Castleton with high visibility (50,000 vehicles per day).; Excellent connectivity to the I‑69/I‑465 interchange.; Extensive renovations completed in the past three years, including a new roof on the south portion.
