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    The Largest CRE Database in the US with Over 1 Million Listings

    Emerson Ave And Edgewood Ave Indianapolis, IN 26237

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    For Lease
    Contact for pricing

    Upshur County retail spaces, flexible sizes.

    Lot size:
    25,413 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    417
    Heeringa Farms Development offers up to four available retail outlots totaling 25,413 square feet on a 27-acre site in Upshur County. Located just seven miles from downtown Indianapolis, this prime commercial property boasts high visibility at the intersection of South Emerson and Edgewood Avenues, experiencing nearly 40,000 vehicles per day. The flexible design allows for customization to suit various tenant needs, with spaces ranging from a minimum of 2,000 square feet to a maximum contiguous space of 17,840 square feet. Currently, the entire 25,413 square feet is vacant, presenting a unique opportunity for businesses seeking significant space in a high-traffic location. While a proposed site plan exists, the outlot and building sizes are adaptable to meet specific requirements. This mixed-use development provides an excellent opportunity for businesses seeking strong visibility and accessibility in a thriving area. The property's substantial size and prime location make it an ideal investment for retailers seeking to establish a strong presence in the Indianapolis market. Contact us to discuss your specific needs and explore the possibilities of this exceptional retail opportunity.

    Property Features for 0 Emerson Ave And Edgewood Ave

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    25,413 SF

    Unit(s) available at that property

    Space
    Outlot 1
    Size
    2,050 SF
    Space
    Outlot 2
    Size
    17,840 SF
    Space
    Outlot 3
    Size
    3,523 SF
    Space
    Outlot 4
    Size
    2,000 SF

    We can help!

    Listing Contact
    Elaine Farhood
    Elaine Farhood

    Learn more

    HighLights

    • Retail and land opportunity totaling 25,413 square feet.
    • Multiple tenancies available, with spaces ranging from 2,000 to 17,840 contiguous square feet.
    • Entire 25,413 square feet currently vacant.
    • 27‑acre lot size in Upshur County.
    • Located 7 miles from downtown Indianapolis, at a high‑traffic intersection with nearly 40,000 vehicles per day.
    • Flexible site plan adaptable to tenant needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Indianapolis
    County
    Upshur
    State
    Indiana

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    FAQs

    What type of property is this?
    Land - Upshur County retail spaces, flexible sizes.
    Where is this land located?
    The property is located at Emerson Ave And Edgewood Ave Indianapolis, IN.
    What are key features of this property?
    This property features: Retail and land opportunity totaling 25,413 square feet.; Multiple tenancies available, with spaces ranging from 2,000 to 17,840 contiguous square feet.; Entire 25,413 square feet currently vacant.
    (317) 284-5528
    Request Owner's contact information
    Emerson Ave And Edgewood Ave Indianapolis, IN 26237
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    Indianapolis, IN 26237
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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
    Emerson Ave And Edgewood Ave Indianapolis, IN 26237
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    We can help!
    Listing Contact
    Elaine Farhood
    Elaine Farhood
    Real Estate License ID: RB22000255
    (317) 284-5528
    Learn more
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