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    7848 Pendleton Pike Lawrence, IN 46226

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    For Lease
    Contact for pricing

    Flex space, ideal for various uses.

    Lot size:
    10,000 SF

    Property Features for 7848 Pendleton Pike

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,000 SF
    Class
    A
    Total Rate
    15000

    Building Details

    Year Renovated
    2024
    Buildings
    1

    Spaces For Lease

    at 7848 Pendleton Pike, Lawrence, IN 46226 Contact us
    Unit Available Space 1

    $22 /Mo

    Size
    5,000 SF
    Contact us

    We can help!

    Listing Contact
    Eric Harvey
    Eric Harvey

    Listing Agency: Randy Faulkner & Associates Listing Agent: Eric Harvey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Pike Plaza, located at 7848 Pendleton Pike in Lawrence, Indiana, presents a unique investment opportunity. This Class A, 10,000 square foot retail and industrial center sits on 2.078 acres of land and features 20 suites, with a minimum divisible space of 150 square feet and options up to 5,000 square feet. The property boasts 48 parking spaces and underwent renovations in 2024. Currently, a portion of the building is being converted into salon and spa loft spaces, offering a turnkey solution for beauty professionals. An additional 2,000 square feet is available for a laundromat or similar use, providing flexibility for diverse business needs. The property is zoned C4 and its convenient location in the Lawrence submarket, near I-465 and U.S. 36, ensures high visibility and accessibility. The APN is 49-07-13-105-008.000-407. This is a rare chance to establish or expand your business in a thriving area with ample space and modern amenities. Don't miss this opportunity to secure your space in this dynamic commercial center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Marion
    State
    Indiana
    Longitude
    -86.0314249
    Latitude
    39.8349414

    Nearby Similar for Lease

    • Contact for pricing
      10,400 SF

      Retail Space in Shopping Center

      Neighborhood shopping center with retail space for lease.
      6880 Pendleton Pike, Lawrence, IN
      View Details
    • Contact for pricing
      1,640 SF

      Remodeled Retail Center on Pendleton

      Remodeled retail center with high visibility and traffic counts.
      8375 Pendleton Pike, Lawrence, IN
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Flex space, ideal for various uses.
    Where is this individual retail property located?
    The property is located at 7848 Pendleton Pike Lawrence, IN.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Class A, 10,000 SF retail/industrial center on 2.07 acres in Lawrence, IN.; 20 suites available, ranging from 150 SF to 5,000 SF.; 48 parking spaces and 2024 renovations.
    (317) 889-9299 Call to check price and availability
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    Lawrence, IN 46226
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7848 Pendleton Pike Lawrence, IN 46226
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Harvey
    Eric Harvey
    Real Estate License ID: RB14040530
    (317) 889-9299
    Learn more
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