Renovated Storefront Retail
For Sale
$950,000
7405 Westfield Boulevard, Indianapolis, IN 46240
Flexible layout supports single- or multi-tenant retail use with dedicated parking.
Property Size4,800 SF
Days on Market83
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: Oct 15
Last Checked: Oct 14 at 8:26PM
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
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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 / Yr
$51,650
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
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
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 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 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Indianapolis, IN
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 $950,000.
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
