Leased Flex Property with Drive-In
For Sale
Contact for pricing
7141 E 46th St, Indianapolis, IN 46226
Fully leased flex property with multiple tenants, varied suite sizes, and a mix of NNN and modified gross leases.
Property Size16,000 SF
Lot Size1.29 Acres
Price / SF$81.25
Days on Market59
Property Features for 7141 E 46th St
General Information
Standard status
Active
Size
16,000 SF
Lot size
1.29 Acres
Property subtype
FLEX_R_AND_D
Zoning
C-4
Occupancy
100%
Net Operating Income
$110,251
Financials
Asking Price
$1,300,000
Cap Rate
8.48%
Additional Details
Drive-In Doors
8
Building Details
Buildings
1
Building Size
16,000 SF
Tenancy
Multi
Listing Agency:
Allies Commercial Realty
(317) 908-6479
Listed By:
Mitchell Ayers
(317) 361-4787
Source:
Moodyscre
Added: Aug 19
Changed: Oct 14
Last Checked: Oct 15 at 12:38AM
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 Allies Commercial Realty
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Investment Insights
Based on property information with market context.
This 16,000-square-foot flex property is fully leased to five tenants in suites ranging from 1,280 to 4,480 square feet. The building includes eight drive-in doors and is zoned C-4, supporting its industrial and flex-space configuration. The 1.29-acre property combines multi-tenant occupancy with practical loading access.
Lease terms include four triple net agreements and one modified gross lease. Each lease provides for 3 percent annual rent increases, with a reported weighted average lease term of 2.48 years. The property produces an 8.48% capitalization rate.
Lease terms include four triple net agreements and one modified gross lease. Each lease provides for 3 percent annual rent increases, with a reported weighted average lease term of 2.48 years. The property produces an 8.48% capitalization rate.
Key Highlights
- 16,000‑square‑foot flex and industrial building on 1.29 acres
- Fully leased to five tenants across suites from 1,280 to 4,480 square feet
- Eight drive‑in doors provide at‑grade loading access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,393
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,860
$2.0M
Cap Rate 7%
$1,419,900
$1.4M
Cap Rate 9%
$1,104,367
$1.1M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$155.5K $9.72/SF
− Vacancy
−$13.5K −$0.85/SF
EGI
$142.0K $8.87/SF
− OpEx
−$42.6K −$2.66/SF
NOI
$99.4K $6.21/SF
Area
ZIP 46226
Vacancy
8.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,860
Cap Rate 7%
$1,419,900
Cap Rate 9%
$1,104,367
Alternative Uses
Best Use
Apartment 5plus
$2.46M
$2.15M – $2.87M
NOI $172,289 @ 7.0% cap · market cap 13.25%
Second Best
Flex RnD
$2.03M
$1.77M – $2.37M
NOI $141,960 @ 7.0% cap · market cap 10.92%
Theoretical Best
Office A
$4.20M
$3.67M – $4.90M
NOI $293,760 @ 7.0% cap · market cap 22.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46226, IN
43,997
Population
21,380
Households
2.1
Avg Household Size
35
Median Age
24%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
2,973
Density / Sq Mi
$47,086
Median Household Income
$34,225
Median Earnings
$1,045
Median Rent
$148,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Indianapolis, IN
Similar Off Market Nearby
- Hattie's Global Soulfood and Catering — 6638 meadowlark dr, indianapolis, in 46226
Frequently Asked Questions
What type of property is this?
Flex space - Fully leased flex property with multiple tenants, varied suite sizes, and a mix of NNN and modified gross leases.
Where is this flex space located?
The property is located at 7141 E 46th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 16,000‑square‑foot flex and industrial building on 1.29 acres; Fully leased to five tenants across suites from 1,280 to 4,480 square feet; Eight drive‑in doors provide at‑grade loading access
