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    1552 Main St Speedway, IN 46224

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    For Lease
    $18 SF/Yr

    Class A Office/Retail, Speedway, IN

    Lot size:
    16,000 SF

    Property Features for 1552 Main St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,000 SF
    Class
    A
    Total Rate
    24666.67

    Building Details

    Year Built
    2017
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 1552 Main St, Speedway, IN 46224 Contact us
    Unit First Floor

    $30 /Mo

    Size
    11,700 SF
    Contact us
    Unit Second Floor

    $30 /Mo

    Size
    11,700 SF
    Contact us

    We can help!

    Listing Contact
    Bill Ehret
    Bill Ehret

    Listing Agency: Avison Young Indianapolis Listing Agent: Bill Ehret

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

    Learn more

    Overview

    This exceptional Class A commercial property, the Speedway Rosner Building, offers 16,000 square feet of versatile office and retail space in the vibrant Speedway, Indiana community. Built in 2017, this two-story building boasts a unique blend of historical charm and modern design. Currently configured as multiple suites, up to 11,700 contiguous square feet are available for lease, making it ideal for a variety of businesses. The property features convenient access to 16th Street and is situated in a pedestrian-friendly area with easy access to the P&E and B&O Rail Trails. Ample parking is provided with 47 unreserved and 8 reserved spaces. The building includes an elevator for easy access to both floors. Located at 1552 N Main St, Speedway, IN 46224, in Marion County, this prime location offers proximity to the Indianapolis Motor Speedway and numerous dining options. Furniture is available for lease. The property's unique design and convenient location make it an attractive option for businesses seeking a high-quality space in a thriving community. This is a rare opportunity to secure a prominent location in a highly sought-after area. The available space ranges from 4,000 to 11,700 square feet, offering flexibility for businesses of various sizes. Contact us today to schedule a viewing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Speedway
    County
    Marion
    State
    Indiana
    Longitude
    -86.2413472
    Latitude
    39.7870395

    Nearby Similar for Lease

    • Contact for pricing
      7,700 SF

      Office/Retail Space Near Speedway

      Sublease opportunity near Indianapolis Motor Speedway with parking.
      1552-1564 N Main St, Speedway, IN 46224
      View Details
    • Contact for pricing
      28,146 SF

      Speedway Flex Space - Main Street

      Prime Speedway Flex Space Available
      1255 Main St, Speedway, IN 46224
      View Details
    • Contact for pricing
      5,250 SF

      Retail Space Near Speedway

      Retail space available in mixed-use development near Indianapolis Motor Speedway.
      1515-1545 Main St, Speedway, IN 46224
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Class A Office/Retail, Speedway, IN
    Where is this individual retail property located?
    The property is located at 1552 Main St Speedway, IN.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    (317) 210-8808
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    1552 Main St Speedway, IN 46224
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    Speedway, IN 46224
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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
    1552 Main St Speedway, IN 46224
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    We can help!
    Listing Contact
    Bill Ehret
    Bill Ehret
    Real Estate License ID: RB14029022
    (317) 210-8808 (317) 590-1178
    Learn more
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