Renovated Storefront Retail
For Sale
$1,000,000
7405 Westfield Boulevard, Indianapolis, IN 46240
Flexible layout supports single- or multi-tenant retail use with dedicated parking.
Property Size4,800 SF
Days on Market38
Property Features for 7405 Westfield Boulevard
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Retail - Street Retail
Building Details
Building Size
4,800 SF
Buildings
1
Listing Agency:
Coombes Real Estate
Listed By:
Robert Coombes · License #RB17000978
Source:
Commercialcafe
Added: Jul 26
Changed: Aug 31
Last Checked: Aug 31 at 1:40PM
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 Coombes Real Estate
Investment Insights
Based on property information with market context.
Located at 7405 Westfield Boulevard in Indianapolis, this stand-alone storefront property features a recently updated façade and a broad customer-facing display area. The interior is arranged for adaptable retail occupancy, with the flexibility to operate as one premises or several separate suites.
Dedicated on-site parking supports customer access. The property sits on Westfield Boulevard between the Broad Ripple and Nora areas, providing exposure to vehicle traffic and access to the retail communities serving both markets.
Dedicated on-site parking supports customer access. The property sits on Westfield Boulevard between the Broad Ripple and Nora areas, providing exposure to vehicle traffic and access to the retail communities serving both markets.
Key Highlights
- Recently renovated façade at 7405 Westfield Boulevard
- Expansive storefront provides prominent Westfield Boulevard exposure
- Flexible interior plan for single- or multi‑tenant retail occupancy
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
$51,650
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
5.17%
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%
$1,033,000
$1.0M
Cap Rate 7%
$737,857
$737.9K
Cap Rate 9%
$573,889
$573.9K
Market Conditions
NOI Build-Up for 4,800 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
$80.6K $16.80/SF
− Vacancy
−$6.9K −$1.43/SF
EGI
$73.8K $15.37/SF
− OpEx
−$22.1K −$4.61/SF
NOI
$51.6K $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%
$1,033,000
Cap Rate 7%
$737,857
Cap Rate 9%
$573,889
Alternative Uses
Best Use
Retail
$737.9K
$645.6K – $860.8K
NOI $51,650 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46240, IN
20,148
Population
11,673
Households
1.7
Avg Household Size
40
Median Age
59%
College-Educated
96%
High-School Grad
9.8 sq mi
ZIP Area
2,056
Density / Sq Mi
$70,728
Median Household Income
$51,822
Median Earnings
$1,255
Median Rent
$328,600
Median Home Value
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible layout supports single- or multi-tenant retail use with dedicated parking.
Where is this storefront property located?
The property is located at 7405 Westfield Boulevard Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Recently renovated façade at 7405 Westfield Boulevard; Expansive storefront provides prominent Westfield Boulevard exposure; Flexible interior plan for single- or multi‑tenant retail occupancy
