Flex Space with Drive-In Loading
For Sale
Contact for pricing
860 Virginia Ave, Indianapolis, IN 46203
Flex space with direct access from Virginia Avenue and an alley, plus a drive-in loading door for deliveries.
Property Size9,872 SF
Price / SF$227.92
Days on Market270
Property Features for 860 Virginia Ave
General Information
Standard status
Active
Size
9,872 SF
Total Parking Spaces
12
Property subtype
RETAIL
Additional Details
Road Access
Yes
Drive-In Doors
1
Listing Agency:
SVN | Northern Commercial
(317) 454-2241
Listed By:
Jess Lawhead, CCIM · License ##RB25000914
(317) 454-2241
Source:
Moodyscre
Added: Nov 7, 2025
Changed: Jul 30
Last Checked: Jul 30 at 9:40PM
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 SVN | Northern Commercial
Investment Insights
Based on property information with market context.
Flex space at 860 Virginia Ave in Indianapolis, IN 46203, offering a versatile setup for retail, office, warehouse, or service uses. The property includes direct access from both Virginia Avenue and an alley, supporting flexible customer and delivery routing. A drive-in door is available for loading and deliveries.
The site provides 12 on-site parking spaces and features 173 feet of frontage on Virginia Avenue. This frontage and dual access can help accommodate day-to-day operations that require easy in-and-out access for people and vehicles.
With a layout designed to support multiple use types, the space is positioned for tenants seeking a flexible operating environment with practical loading and access features.
The site provides 12 on-site parking spaces and features 173 feet of frontage on Virginia Avenue. This frontage and dual access can help accommodate day-to-day operations that require easy in-and-out access for people and vehicles.
With a layout designed to support multiple use types, the space is positioned for tenants seeking a flexible operating environment with practical loading and access features.
Key Highlights
- 12 on‑site parking spaces
- 173 feet of frontage on Virginia Avenue
- Direct access from Virginia Avenue and an alley
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $165.8k | $16.80 |
| − Vacancy | −$16.6k | −$1.68 |
| EGI | $149.3k | $15.12 |
| − OpEx | −$52.2k | −$5.29 |
| NOI | $97.0k | $9.83 |
9,872 SF · lease $16.80/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.21M – $1.62M
NOI $97,022 @ 7.0% cap · market cap 4.31%
Second Best
Warehouse
$853.7K
$747.0K – $996.0K
NOI $59,757 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,010 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
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.
Similar Off Market Nearby
- Casa Boricua — 1317 Lexington Ave, Indianapolis, IN 46203
- Sushi Den — 233 S Delaware St, Indianapolis, IN 46204
- Quick bite — 730 S State Ave, Indianapolis, IN 46203
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with direct access from Virginia Avenue and an alley, plus a drive-in loading door for deliveries.
Where is this flex space located?
The property is located at 860 Virginia Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 12 on‑site parking spaces; 173 feet of frontage on Virginia Avenue; Direct access from Virginia Avenue and an alley
