Multi-Tenant Distribution
New
For Sale
$995,000
722 Ketcham St, Indianapolis, IN 46222
Three heated and cooled industrial buildings support multiple occupancies with lease terms extending through 2028 and 2030.
Property Size11,362 SF
Days on Market2
Property Features for 722 Ketcham St
General Information
Standard status
Active
Size
11,362 SF
Property subtype
Industrial - Warehouse/Distribution
Building Details
Building Size
11,362 SF
Units
4
Listing Agency:
SVN | Northern Commercial
Listed By:
Nick O'Patterson · License ##RB25000914
(317) 586-0541
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 9:22PM
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
Investment Insights
Based on property information with market context.
This multi-tenant distribution property comprises three industrial buildings totaling 5,258 SF, 4,066 SF, and 1,638 SF, with I-2 zoning. Building 1 includes 19.57'–21.84' clear heights, a drive-in door, dock, 240V 3-phase/400-amp power, four offices, three bathrooms, a mezzanine, and a crane. Building 2 offers 15.84' clear height, two drive-ins, a dock, two offices, a conference room, LED lighting, and a 2021 roof and insulation package. Building 3 features 11.97' clear height, two drive-ins, office and light-storage space, LED lighting, and an insulated metal roof with silicone coating. All three buildings are heated and cooled.
The property is located at 722 Ketcham Street, just west of downtown Indianapolis, with access to I-65, I-70, and I-465. Current lease terms extend through 2028 and 2030, and the site sits within an established industrial corridor serving downtown, nearby employment centers, and the broader Central Indiana market.
The property is located at 722 Ketcham Street, just west of downtown Indianapolis, with access to I-65, I-70, and I-465. Current lease terms extend through 2028 and 2030, and the site sits within an established industrial corridor serving downtown, nearby employment centers, and the broader Central Indiana market.
Key Highlights
- Three‑building industrial property with 5,258 SF, 4,066 SF, and 1,638 SF buildings
- I‑2 zoning with access to I‑65, I‑70, and I‑465
- Building 1: 19.57'–21.84' clear height, dock, drive‑in, crane, and 240V 3‑phase/400‑amp power
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
$68,776
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
6.91%
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%
$1,375,520
$1.4M
Cap Rate 7%
$982,514
$982.5K
Cap Rate 9%
$764,178
$764.2K
Market Conditions
NOI Build-Up for 11,362 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
$88.6K $7.80/SF
− Vacancy
−$7.7K −$0.68/SF
EGI
$80.9K $7.12/SF
− OpEx
−$12.1K −$1.07/SF
NOI
$68.8K $6.05/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,375,520
Cap Rate 7%
$982,514
Cap Rate 9%
$764,178
Alternative Uses
Best Use
Warehouse
$982.5K
$859.7K – $1.15M
NOI $68,776 @ 7.0% cap · market cap 6.91%
Second Best
Industrial
$809.1K
$708.0K – $944.0K
NOI $56,639 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,971 @ 7.0% cap · market cap 19.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 46222, IN
37,185
Population
15,782
Households
2.4
Avg Household Size
31
Median Age
17%
College-Educated
78%
High-School Grad
11.0 sq mi
ZIP Area
3,380
Density / Sq Mi
$45,198
Median Household Income
$30,548
Median Earnings
$1,050
Median Rent
$104,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Distribution center - Three heated and cooled industrial buildings support multiple occupancies with lease terms extending through 2028 and 2030.
Where is this distribution center located?
The property is located at 722 Ketcham St Indianapolis, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three‑building industrial property with 5,258 SF, 4,066 SF, and 1,638 SF buildings; I‑2 zoning with access to I‑65, I‑70, and I‑465; Building 1: 19.57'–21.84' clear height, dock, drive‑in, crane, and 240V 3‑phase/400‑amp power
