Flex-Industrial Space with Drive-In
For Sale
$1,285,000
8004-8008 Castleway Drive, Indianapolis, IN 46250
Flexible commercial building with clear-span interiors, parking, and access to major northeast Indianapolis transportation routes.
Property Size8,044 SF
Days on Market240
Property Features for 8004-8008 Castleway Drive
General Information
Standard status
Active
Size
8,044 SF
Property subtype
Industrial
Additional Details
Highway Access
Yes
Clear Span
Yes
Building Details
Building Size
8,044 SF
Year Built
1969
Properties For Sale
at 8004-8008 Castleway Drive Contact us8004 Castleway Drive
Size
5,272 SF
Lease Type
NNN
8008 Castleway Drive
Size
2,772 SF
Lease Type
NNN
Listing Agency:
SVN | Northern Commercial
Listed By:
Jess Lawhead · License #IN RB14047741
(317) 843-8448
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 7
Last Checked: Oct 14 at 7:39PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8,044-square-foot flex-industrial property, built in 1969, combines adaptable interior space with features suited to warehouse, light manufacturing, distribution support, showroom, and office-related operations. Clear-span layouts, drive-in doors, and on-site parking support a range of commercial configurations. The building can be occupied as a combined facility or divided into 5,272-square-foot and 2,772-square-foot spaces.
Located at 8004-8008 Castleway Drive in northeast Indianapolis, the property is near East 82nd Street and offers access to Interstate 69 and Interstate 465. Castleton Square Mall and a broad selection of retail, dining, and service amenities are nearby, while downtown Indianapolis and surrounding suburbs are accessible from the site.
Located at 8004-8008 Castleway Drive in northeast Indianapolis, the property is near East 82nd Street and offers access to Interstate 69 and Interstate 465. Castleton Square Mall and a broad selection of retail, dining, and service amenities are nearby, while downtown Indianapolis and surrounding suburbs are accessible from the site.
Key Highlights
- 8,044 SF flex‑industrial building
- Can be configured as 5,272 SF and 2,772 SF spaces or used together
- Clear‑span interior layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,056
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,581,120
$1.6M
Cap Rate 7%
$1,129,371
$1.1M
Cap Rate 9%
$878,400
$878.4K
Market Conditions
NOI Build-Up for 8,044 SF
Gross rent
$135.1K $16.80/SF
− Vacancy
−$13.5K −$1.68/SF
EGI
$121.6K $15.12/SF
− OpEx
−$42.6K −$5.29/SF
NOI
$79.1K $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%
$1,581,120
Cap Rate 7%
$1,129,371
Cap Rate 9%
$878,400
Alternative Uses
Best Use
Flex RnD
$1.13M
$988.2K – $1.32M
NOI $79,056 @ 7.0% cap · market cap 6.15%
Second Best
Warehouse
$695.6K
$608.7K – $811.5K
NOI $48,692 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,159 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,611
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Similar Off Market Nearby
- International Food Catering Service — 6816 E 82nd St, Indianapolis, IN 46250
- Paco's Taqueria - Food Truck — 6816 E 82nd St, Indianapolis, IN 46250
- Asian Chao — 6020 82nd St #1010, Indianapolis, IN 46250
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with clear-span interiors, parking, and access to major northeast Indianapolis transportation routes.
Where is this flex space located?
The property is located at 8004-8008 Castleway Drive Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 8,044 SF flex‑industrial building; Can be configured as 5,272 SF and 2,772 SF spaces or used together; Clear‑span interior layouts
