Zoned Retail and Office
For Sale
Contact for pricing
8007 S Meridian St, Indianapolis, IN 46217
1973 building on a 0.29-acre lot with ample on-site parking and C-1 zoning.
Property Size3,135 SF
Lot Size0.29 Acres
Price / SF$191.39
Days on Market178
Property Features for 8007 S Meridian St
General Information
Standard status
Active
Size
3,135 SF
Lot size
0.29 Acres
Property subtype
Office, Retail
Zoning
C-1
Additional Details
Traffic Count
30,698 vehicles/day
Building Details
Year Built
1973
Listing Agency:
Avison Young - Indianapolis
Listed By:
Peter Seoane · License #IN RB15000975
(317) 210-8811
Source:
Crexi
Added: Mar 13
Changed: Jul 22
Last Checked: Sep 3 at 11:03AM
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 Avison Young - Indianapolis
Investment Insights
Based on property information with market context.
This 3,135± square foot commercial building was built in 1973 and sits on a 0.29-acre lot. The property is zoned C-1 and includes ample parking intended for convenient, close-to-the-door access.
The building is approximately a seven-minute drive from Community Hospital South. Average daily traffic is listed at 30,698 vehicles (2024), and the property is located adjacent to Perry Meridian’s Middle and High School.
For-sale presentation includes the existing building size and zoning configuration for retail and office use considerations under C-1.
The building is approximately a seven-minute drive from Community Hospital South. Average daily traffic is listed at 30,698 vehicles (2024), and the property is located adjacent to Perry Meridian’s Middle and High School.
For-sale presentation includes the existing building size and zoning configuration for retail and office use considerations under C-1.
Key Highlights
- 3,135± SF building on a 0.29‑acre lot
- Built in 1973
- C‑1 zoning
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
$41,391
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
6.90%
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%
$827,820
$827.8K
Cap Rate 7%
$591,300
$591.3K
Cap Rate 9%
$459,900
$459.9K
Market Conditions
NOI Build-Up for 3,135 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
$67.7K $21.60/SF
− Vacancy
−$12.5K −$4.00/SF
EGI
$55.2K $17.60/SF
− OpEx
−$13.8K −$4.40/SF
NOI
$41.4K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$827,820
Cap Rate 7%
$591,300
Cap Rate 9%
$459,900
Alternative Uses
Best Use
Office B
$591.3K
$517.4K – $689.9K
NOI $41,391 @ 7.0% cap · market cap 6.90%
Second Best
Retail
$481.9K
$421.7K – $562.2K
NOI $33,734 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$780.3K
$682.8K – $910.4K
NOI $54,624 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,698 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46217, IN
34,725
Population
14,078
Households
2.5
Avg Household Size
35
Median Age
33%
College-Educated
89%
High-School Grad
21.2 sq mi
ZIP Area
1,638
Density / Sq Mi
$88,326
Median Household Income
$46,909
Median Earnings
$1,370
Median Rent
$226,100
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - 1973 building on a 0.29-acre lot with ample on-site parking and C-1 zoning.
Where is this storefront property located?
The property is located at 8007 S Meridian St Indianapolis, IN.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,135± SF building on a 0.29‑acre lot; Built in 1973; C‑1 zoning
