Industrial Lot with Three
For Sale
Contact for pricing
2000 Doctor M.L.K. Jr St, Indianapolis, IN 46202
Large industrial lot with three buildings and interstate access.
Property Size35,900 SF
Price / SF$58.50
Days on Market1496
Property Features for 2000 Doctor M.L.K. Jr St
General Information
Standard status
Active
Size
35,900 SF
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
1910
Year Renovated
2018
Buildings
3
Listing Agency:
Midland Realty Group Inc
(317) 702-8049
Listed By:
Jhirmal Singh · License #RB20002065
Source:
Crexi
Added: Jul 27, 2022
Changed: Aug 16
Last Checked: Aug 29 at 10:27PM
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 Midland Realty Group Inc
Investment Insights
Based on property information with market context.
This large industrial lot features three buildings and is zoned I-4, making it suitable for industrial or commercial use. The property includes multiple high doors and has been recently renovated. It benefits from nearby interstate access and local traffic. Truck parking is allowed on the site. The property offers potential for various light or medium industrial uses, as well as commercial opportunities.
Key Highlights
- Large industrial lot with three buildings.
- Zoned I‑4, suitable for industrial or commercial uses.
- Multiple high doors and recently renovated.
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
$178,961
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
8.52%
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%
$3,579,220
$3.6M
Cap Rate 7%
$2,556,586
$2.6M
Cap Rate 9%
$1,988,456
$2.0M
Market Conditions
NOI Build-Up for 35,900 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
$280.0K $7.80/SF
− Vacancy
−$24.4K −$0.68/SF
EGI
$255.7K $7.12/SF
− OpEx
−$76.7K −$2.14/SF
NOI
$179.0K $4.98/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
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%
$3,579,220
Cap Rate 7%
$2,556,586
Cap Rate 9%
$1,988,456
Alternative Uses
Best Use
Industrial
$2.56M
$2.24M – $2.98M
NOI $178,961 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.94M
$7.82M – $10.43M
NOI $625,522 @ 7.0% cap · market cap 29.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Large industrial lot with three buildings and interstate access.
Where is this industrial property located?
The property is located at 2000 Doctor M.L.K. Jr St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Large industrial lot with three buildings.; Zoned I‑4, suitable for industrial or commercial uses.; Multiple high doors and recently renovated.
